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Lyric Capital and Spirit Music Group raise over $800 million to buy music rights
By Andy Malt | Published on Wednesday 1 March 2023
Music-focussed private equity firm Lyric Capital Group and its music publishing operation Spirit Music Group have announced that they have raised $410 million in new investment to buy music copyrights. Additional debt financing brings the total available to over $800 million.
“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”, says Lyric co-founder Jon Singer. “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”.
Fellow co-founder Ross Cameron adds: “Since inception, Lyric Capital has transacted on over $800 million to develop outstanding catalogues of music, in partnership with artists and songwriters. 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”.
Lyric Capital was founded in 2019 to orchestrate a management buyout of the Spirit Music Group. Through Spirit it now owns more than 100,000 song and recording copyrights, including songs recorded by the likes of Taylor Swift, Ed Sheeran, Jay-Z, Madonna, Elvis Presley, Eminem, Tom Petty, Frank Sinatra and more.
