Hedge Fund's Route to 30% Fees: Cash Advances to Hip-Hop Artists
- Jamie Dinan’s York emerged as force in music-royalty financing
- As cash advances, usury laws capping lending rates don’t apply
A man works on a mixing console.
Photographer: Loic Venance/AFP via Getty Images
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Stephen Marley comes from music royalty. Sean Garrett has written and produced smash hits for Beyoncé, Usher and Ciara.
Even so, when they and hundreds of lesser-known names in the world of hip-hop and rap needed cash, one Wall Street figure emerged as an unlikely source behind the financing: hedge-fund titan Jamie Dinan.