New York, NY – November 15, 2023
GoldState Music (“GoldState” or “the Company”) today announced a significant investment and a new partnership with funds managed by Flexpoint Ford Asset Opportunities (“Flexpoint”) to accelerate its strategy of investing in music intellectual property assets, including full catalogs, influential copyrights, master recordings, and publishing rights. As part of the partnership, GoldState will source new catalog acquisitions and manage the licensing, synchronization, and administration for the existing and acquired copyrights.
GoldState was launched in 2022 by Charles Goldstuck, a music industry veteran who brings decades of music experience to the firm. GoldState was formed to create a diversified portfolio of music copyrights and sound recordings, with a differentiated strategy of acquiring rights from active, well-known artists, writers and producers. In its first year of operations, GoldState successfully acquired music rights from several artists and songwriters, spanning multiple genres, geographies, and asset types.
“GoldState aims to provide a home for active music creators looking to monetize their current music assets and focus on continuing their creative endeavors,” said Charles Goldstuck, Founder of GoldState. “The capital from Flexpoint will allow us to accelerate our strategy and create a diversified portfolio of music assets across various artists and genres.”
“Charles has a strong pedigree within the music industry that enables him and the GoldState team to identify and acquire music rights with attractive performance trajectories,” said Mike Morris, Managing Director of Flexpoint Ford. “We continue to see strong secular demand for music underpinned by increased penetration of streaming and expanding avenues for music consumption, and we believe GoldState has the expertise, experience and deep commitment to artists needed to develop a successful and differentiated business in this rapidly evolving space. We are thrilled to partner with Charles and the opportunities that lie ahead for GoldState.”
Flexpoint has approximately $7.7 billion of assets under management and specializes in privately negotiated investments in the financial services and healthcare industries. The capital is being provided by Flexpoint Asset Opportunity Fund II, which leverages the firm’s institutional knowledge and relationships to complete opportunistic investments across the capital structure.
Reed Smith served as legal counsel to Flexpoint. Artisan One served as financial advisor and Alston & Bird served as legal counsel to GoldState.
GoldState Music is a private investment firm with a primary focus on the music sector. GoldState funds invest in music rights, enterprises in need of growth and expansion capital, as well as emerging music technology. The firm was founded in 2022 by Charles Goldstuck, and currently has offices in New York, NY and Lake Nona, FL (Orlando). The team consists of experienced industry professionals who are deeply rooted in the music ecosystem.