Blackstone rebrands music business to Recognition, consolidates assets
ft.com —
Blackstone has rebranded its $3 billion music investment group from Hipgnosis to Recognition. This change comes as the company plans to resume acquiring music rights, consolidating its assets into one entity managing over 45,000 songs. Recognition combines the former Hipgnosis Songs Assets and Hipgnosis Songs Fund, which Blackstone took private last year. The new structure aims to operate more efficiently than the previous three separate businesses. The group, led by CEO Ben Katovsky, intends to invest in technology to enhance asset value and increase royalty collection. Recognition aims to grow selectively while maintaining the quality of its music portfolio.