Lyric Capital Group has successfully closed its second fund, with total commitments of approximately $410 million. It exceeded the target with support from a diverse group of new and existing institutional investors.
Lyric Capital is a New York-based private equity firm that specialises in investing in music copyrights. It is also the owner of global music publishing operation Spirit Music Group.
In addition to the fund announcement, the firm also raised senior debt financing to bring Lyric’s new deployable capital to over $800m.
Lyric Capital Group was founded by Jon Singer and Ross Cameron. With several hundred million dollars of committed capital currently under management, and over $800m transacted, it is seeking to acquire new royalty-generating assets, primarily from songwriters and artists, to complement its existing portfolio of copyrights.
“I couldn’t be more excited about completing our latest fundraise with the participation of existing and new investors which validates our unique and collaborative approach to acquiring high-quality assets from recording artists and songwriters,” said Jon Singer (pictured), managing partner and co-founder at Lyric Capital, and chairman Spirit Music Group. “Thanks to our relationships and proven reputation as good stewards of legendary song catalogues and recordings, we have a robust pipeline of proprietary opportunities and the capital to pursue them.”
“Since inception, Lyric Capital has transacted on over $800 million to develop outstanding catalogues of music, in partnership with artists and songwriters,” said Ross Cameron, partner and co-founder at Lyric Capital. “Our disciplined investment approach is informed by our ownership of Spirit Music Group and supported by 25 years of proprietary music royalty data providing us with an unmatched insight when acquiring and managing copyrights. We are very pleased to close our second fund and thank our investors for their continued support of our unique platform.”
The Lyric Capital-owned Spirit Music Group has a catalogue comprised of more than 100,000 owned and managed copyrights and master recordings. Its portfolio is largely made up of mature music royalty assets, including iconic catalogues with 800-plus charted hits and 200-plus No.1 songs.
The company's repertoire includes hits recorded by The Who, Ed Sheeran, John Legend, Chicago, The Go-Go's, Faith Hill, Tim McGraw, Camilla Cabello, Jay-Z, Ricky Martin, Brad Paisley, Toto, Madonna, Jason Aldean, Graham Nash, T.Rex, Charles Mingus, Carrie Underwood, Taylor Swift, Billy Squier, Chaka Khan, Whitney Houston, Eminem, Elvis, Frank Sinatra, Eminem, Salt-N-Pepa, Electric Light Orchestra, Tom Petty, The Traveling Wilburys, and more.
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