Ropes & Gray Advises TPG Growth on its Exit from Afrobeats Label Mavin Global

Ropes & Gray has advised Kupanda Holdings, an affiliate of TPG Growth, the middle market and growth equity investment platform of global investment firm TPG, on its exit from Africa's industry-leading music label, Mavin Global (Mavin).

Founded in Lagos, Nigeria in 2012 by legendary producer Don Jazzy, Mavin has produced a number of the most iconic artists and songs of the last decade. The multi-award-winning label has enjoyed rapid growth, alongside commercial success, contributing to the rise of Afrobeats.

Ropes & Gray advised Kupanda Holdings on its partnership with Mavin in January 2019, which enabled the label to focus on scaling operations to meet rapidly growing international demand for African music.

In connection with the exit, Universal Music Group has acquired a majority investment in Mavin. Kupanda Capital will remain a minority investor and strategic advisor.

The Ropes & Gray team was led by private equity partners Carl Marcellino and John Newton, and mergers & acquisition counsel David Dowling with support from private equity associate Kenan Ceylan and trainee Lewis Bizaoui. Additional support was provided by tax partners Brenda Coleman, Adam Greenwood and Benjamin Rogers, and associate Omar Asfar.