Universal Music, a world-leader in music-based entertainment, and Dundee Partners, the investment office of the Hendel family, completed the acquisition of a 25.8% stake in Chord Music Partners, a catalog of premier music intellectual property, from KKR, an investment firm, for $240m. "Finding partners who share our passion for identifying iconic songs and recordings that will stand the test of time and deliver long-term growth is essential, which is why we're so pleased to be working with Stephen and Sam Hendel and Dundee Partners. With the leadership of Jody Gerson at UMPG, Nat Pastor and JT Myers at Virgin, and the support of our experienced creative executives around the world, no one can do more with music rights than our teams. We look forward to creating maximum commercial and creative value for the songwriters and artists in Chord and building for the future," Lucian Grainge, Universal Music Chairman and CEO.