The joint venture will give the Japanese entertainment company funds to build up its portfolio of songs[LOS ANGELES] Sony Music Group and Singapore’s GIC sovereign wealth fund are forming a joint venture to acquire music copyrights, with plans to invest US$2 billion to US$3 billion in the project. Universal Music Group announced a similar deal with Dundee Partners in early 2024, while Warner Music Group set up a partnership with Bain Capital last year. “Partnering with GIC brings together long-term capital and Sony Music Group’s operational capabilities to acquire and manage premier catalogues, creating new opportunities for artists’ and songwriters’ music globally,” Kevin Kelleher, Sony Music’s chief operating officer, said in the statement. Sony and GIC plan to seek high-quality, marquee music assets across a range of genres. Sony owns the second-largest record label group and is the largest music publisher in the world.