Catalogue funds live and die by two numbers: what the asset is worth, and what the asset actually yields. We interrogate both - pre-acquisition diligence against a 207 million-track reference catalogue, and quarterly monitoring across the portfolio. Third-party, independent, and defensible at the LP meeting.
A forensic sweep of the target catalogue before you close. Registered rights, streaming legitimacy, territory exposure, unclaimed-royalty upside. The valuation model, checked against reality.
Quarterly monitoring across the entire portfolio. Title-variant drift, ISRC registrations lapsing, emerging fraud patterns on performing assets, territory-level income anomalies. Early signal beats year-end audit.
Black Box applied to portfolio assets - where is the fund owed money it has not claimed? Where is the writer s royalty owed money the fund never had? The recovery work is a return line.
Quarterly LP-grade portfolio report, formatted to sit alongside your existing LP letter. Third-party methodology, independent firm, defensible numbers. Useful the day you need to raise the next fund.
Typical shape: a fund-level retainer for portfolio monitoring and LP reporting, plus per-deal diligence engagements on each new acquisition. Recovery engagements sit on top where the numbers warrant - outcome-based, scoped per-catalogue, separately papered.
We expect to sit alongside your valuation firm, your audit firm, and your outside counsel. Different questions, different methodology, complementary answers.
Due diligence is fixed-fee per engagement. Portfolio monitoring is an annual retainer sized to portfolio value. Recovery share is outcome-based. There is no public price card.
We will tell you, on a thirty-minute call, whether the engagement is a fit and the indicative commercial shape. NDA first; conversation second.
Open a fund conversation→An appraisal values the asset. We interrogate it. We check whether registrations exist, whether streaming is real, whether the territory mix is stable, and whether there is uncollected upside. A valuation tells you the number; we tell you whether the number is defensible.
Yes. Every DD engagement is NDA-first. We hold in-force NDAs with funds we are not currently engaged with. Our methodology is public; the catalogues we examine are not.
Yes - the deliverable is designed for it. Third-party methodology, independent firm, no conflict with the fund s interests. Several LPs now ask specifically for third-party catalogue DD; we are the answer.
Portfolio monitoring applies whether we were involved in the original DD or not. We commonly onboard a fund s existing portfolio as the starting point, then run DD on new acquisitions as they come forward.
Due diligence is fixed-fee per engagement, scoped to catalogue size and complexity. Monitoring is an annual retainer. Recovery upside is outcome-based, commonly taken as a share of recoveries. We are happy to align our economics with yours.
Tell us the deal window, the catalogue rough size, and what the valuation model assumes. We will come back in four to six weeks with an LP-grade report.
Open a fund conversation→