NEW YORK--(BUSINESS WIRE)--Lyric Capital Group (“Lyric Capital”), a New York-based private equity firm that specializes in investing in music copyrights and the owner of global music publishing operation Spirit Music Group, announced today that it has successfully closed its second fund, with total commitments of approximately $410 million, exceeding its target with support from a diverse group of new and existing institutional investors. In addition, the firm also raised senior debt financing to bring Lyric’s new deployable capital 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,” said Jon Singer, 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 catalogs and recordings, we have a robust pipeline of proprietary opportunities and the capital to pursue them,” continued Mr. Singer.
“Since inception, Lyric Capital has transacted on over $800 million to develop outstanding catalogs 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,” said Ross Cameron, Partner, and Co-Founder at Lyric Capital. “We are very pleased to close our second fund and thank our investors for their continued support of our unique platform,” continued Mr. Cameron.
The Lyric Capital owned Spirit Music Group, has a catalog comprised of over 100,000 owned and managed copyrights and master recordings spanning nine decades across every leading musical genre and an impressive legacy of evergreen music copyrights and contemporary hit songs. The Spirit Music Group portfolio is largely made up of mature music royalty assets and is one of the largest and most diversified independent music portfolios. Its holdings include iconic catalogs with 800+ charted hits and 200+ number one songs. The company's repertoire includes hits recorded by such iconic artists as 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.
Eaton Partners served as the exclusive placement agent and Ropes & Gray LLP served as legal counsel.
About Lyric Capital Group
Lyric Capital Group was founded by Jon Singer and Ross Cameron. Lyric Capital, owners of Spirit Music Group, collaborates with artists and songwriters to invest in music royalties, to enable them to protect their creative property and artistic legacies. The team applies more than 25 years of proprietary music royalty data and investment discipline to provide investors with consistent yield, downside protection, and private equity-like returns.
With several hundred million dollars of committed capital currently under management, and over $800 million transacted, Lyric Capital seeks to acquire new royalty generating assets primarily from songwriters and artists, to complement its existing portfolio of copyrights.