Private equity giant Blackstone bought an accounting firm for $2 billion – but the real story isn’t about the price tag. On a recent episode of The Accounting Podcast, we connected the dots.
Blackstone didn’t just buy Citrin Cooperman—they purchased the firm that happens to be an expert in valuing music catalogs.
Why does this matter? Blackstone owns massive music rights portfolios, including catalogs from Shawn Mendes, Panic at the Disco, and One Direction.
Here’s the problem: The same company now owns both the valuation experts and the assets being valued. It raises the question, can investors trust the valuations?
That’s why independence is so important — and if private equity firms reduce independence, or just call into question our independence, that could be a big problem for the accounting profession.
