Phillips has been on gardening leave since from Warner since last March, after spending seven years at the label. This year he was executive producer for the Brits 2007 show.

Edge Group, founded four years ago by David Glick, is now the biggest specialist investment fund for the live music and events industry, it says, adding that it is planning a period of increased activity.

It has actively recruited major players from the music industry including Harvey Goldsmith, Elton John ...