Firm News
Schulte Advises Influence Media on the Formation of a Fund to Invest in Catalogs of Female Music Creators
April 2021
Schulte advised IMP IM, LP (“Influence Media”) on the formation of Influence x Music Fund I, L.P. (“Fund”), a fund that targets investments in royalties, intellectual property and other contractual rights to proceeds from the sale, distribution, licensing or exploitation of music assets, with a focus on catalogs of the most influential female artists and songwriters. Influence Media is led by Founder and Co-Managing Partner Lylette Pizarro, and Co-Managing Partner Lynn Hazan. Prior to founding Influence Media, Pizarro spent over a decade “monetizing well-known music copyrights” with blue-chip brands for ads that aired during events including the Grammy Awards and the Super Bowl. Hazan, meanwhile, served a combined 15 years as General Manager & CFO of Epic Records and prior to that, RED Music. The Fund has the potential to invest up to $100 million and has been established in partnership with Municipal Employment Retirement System (MERS of Michigan).
The Schulte team advising Influence Media was led by litigation partner Howard Schiffman, investment management partner Stephanie Breslow, M&A and securities partner Daniel Eisner and investment management special counsel Daniel Daneshrad. The team also included investment management associate Alexis Marion and tax partner David Griffel.
Related Insights
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]