Lyric Capital Group, a New York-based private equity firm focused on investing in music copyrights and the owner of global music publishing company Spirit Music Group, has closed its second fund with total commitments of approximately $410 million, exceeding its original target.
The firm also raised senior debt financing to bring Lyric’s new deployable capital to over $800 million. Lyric Capital looks to acquire new royalty-generating assets primarily from songwriters and artists, to complement its existing portfolio of copyrights.
“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,” says Ross Cameron, partner, and co-founder at Lyric Capital.
Eaton Partners served as placement agent and Ropes & Gray LLP served as legal counsel.