Universal Music Group completed the acquisition of a majority stake in Mavin Global from TPG Growth.

Universal Music Group, a music-based entertainment firm, completed the acquisition of a majority stake in Mavin Global, an independent record label, from TPG Growth, a private equity firm. Financial terms were not disclosed. “Our criteria for identifying partners is straightforward: great artists, great entrepreneurs, great people. With Don Jazzy, Tega, the Mavin Global team and their artist roster, we’ve found ideal partners with whom to grow together. Mavin’s brilliant artists have been catalysts in the transformation of Afrobeats into a global phenomenon and we’re thrilled to welcome them into the Universal Music Group family," Lucian Grainge, Universal Music Group Chairman & CEO.