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LYRIC CAPITAL HAS RAISED $800M FOR MUSIC RIGHTS ACQUISITION




Lyric Capital Group Closes Second Fund with $410m in Total Commitments.


Lyric Capital Group, the New York-based private equity firm, has closed its second fund with total commitments of approximately $410 million.

In addition, it has raised senior debt financing to bring its new deployable capital to over $800 million. Lyric says it exceeded its funding target, thanks to "support from a diverse group of new and existing institutional investors." Its latest fundraise follows the news in October 2021 that the firm had struck a $500 million strategic alliance with Northleaf Capital.


Lyric Capital Group was founded in 2019 by Jon Singer and Ross Cameron.

Its Spirit Music Group portfolio is largely made up of mature music royalty assets managed by Lyric Capital Group and represents combined catalogs totalling over 100,000 songs.

The company's repertoire includes hits recorded by such artists as The Who, Ed Sheeran, John Legend, Chicago, The Go-Go's, Taylor Swift, and more.


Lyric's new $800 million raise marks the latest evidence that the music rights acquisition space is hotting up again and follows a string of recent big-money deals and investments. This includes the Los Angeles-based investment company Shamrock Capital, which raised more than $600 million in commitments for its third equity fund, and Primary Wave, which announced a new $2 billion deal with Brookfield Capital. K-pop and media giant Kakao Entertainment also secured an investment worth around $1 billion from sovereign wealth funds.


Lyric Capital Group has closed its second fund with total commitments of approximately $410 million, exceeding its funding target. The company also raised senior debt financing to bring Lyric's new deployable capital to over $800 million. Lyric Capital Group is among the many private equity firms participating in music rights acquisition, with companies such as Shamrock Capital, Primary Wave, and Kakao Entertainment securing recent big-money deals and investments.


With Lyric's latest raise, the music rights acquisition space appears to be hotting up again, marking the latest evidence that investors are keen on investing in the music industry.

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