WMG and Bain Capital said on Tuesday (July 1) that they will source and acquire the catalogs together, while WMG will manage all aspects of marketing, distribution, and administration. The funds might be deployed swiftly: Warner and Bain are reportedly mulling the acquisition of the Red Hot Chili Peppers’ recorded music catalog for around $350 million. Source: Warner Music Group and Bain launch $1.2 billion fund to buy rights; each party owns 50% of venture