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Business News Deals Labels & Publishers
Spirit Music owner announces $500 million alliance with investment group
By Chris Cooke | Published on Friday 15 October 2021
From the increasingly bulging file marked “Investment Entities Put Money Into Music Rights” comes the news that the Lyric Capital Group has announced a new alliance with investment firm Northleaf Capital Partners. As part of that alliance, Northleaf is leading a consortium of investors that are together making a $500 million investment. And why not?
Lyric Capital Group is a private equity outfit fully focused on music rights, it having been set up to orchestrate the management-led buyout of the Spirit Music Group back in 2019. It says the new alliance with Northleaf will allow “the 25 year old Spirit Music Group to continue to build upon its already impressive legacy of evergreen copyrights and present day hit songs”.
Confirming the new big-bucks alliance, Lyric Capital Group Managing Partner Jon Singer says: “This strategic alliance allows us to continue to anticipate our clients’ needs in a constantly evolving market and accelerate our growth strategy of investing in iconic catalogues, elevating new music and serving the needs of the songwriters who entrust us with their life’s work. We are excited to have Northleaf on board who share our vision”.
Meanwhile, Northleaf Managing Director Michael Morris adds: “We are delighted to work with the team at Lyric. Our collaboration represents a compelling opportunity in the music royalty space alongside a best-in-class operator. This is a rapidly growing and uncorrelated asset class that provides our investors with predictable and growing cash flows”.
Lovely stuff. Meanwhile, do check today’s one liners with all the latest release news – or, if you prefer, updates on all the latest assets being added to the all important “rapidly growing and uncorrelated asset class” that is music.
