Lyric Capital Group, a music private equity firm focused on investing in music royalties, has closed a $130 million investment with the support of new and existing limited partners.
The acquisition, a single-artist catalog, is a masters, publishing, and video portfolio built by a singer, songwriter, and producer whose works span over 20 years. This portfolio consists of numerous #1 U.S. singles, #1 U.S. albums, and many global awards from major music institutions.
“The emergence of music streaming coupled with a favorable regulatory backdrop has propelled the music royalty industry into a highly desirable asset class,” said Jon Singer, managing partner at Lyric Capital Group. “With our $1 billion-plus, proprietarily sourced pipeline and value-oriented approach, we believe we are well-positioned to capture the momentum of an exciting sector.”
“Eaton Partners has been a vital cog to Lyric’s growth, helping us take another major step towards realizing our long-term vision,” added Ross Cameron, partner at Lyric Capital Group.
“During one of the music industry’s most exciting periods, Eaton was elated to work with Lyric through this investment and assist Lyric’s acquisition of this truly iconic music catalog,” said Peter Martenson, partner at Eaton Partners. “We believe Lyric has cemented itself as a market leader within the music royalty investment arena and we are pleased to have continued the opportunity to partner with the Lyric team. Congratulations to Jon and Ross on their successful journey thus far and on this tremendous investment.”
Eaton Partners, a placement agent and financial advisory firms and a wholly-owned subsidiary of Stifel Financial Corp., acted as exclusive financial advisor and placement agent for the transaction. Ropes & Gray acted as fund counsel; Akin Gump acted as tax counsel.