Lyric Capital Group, owner of Spirt Music Group, has once again reinvented its capital structure with a $500 million investment led by Northleaf Capital Partners.
The new influx comes from a group led Northleaf Capital Partners and takes out Morgan Stanley from the company's ownership.
That 2019 deal took out Spirit Music majority owner Pegasus Capital Advisors and retired about $50 million in debt from the Fortress Credit Corp. Now, a company spokesman confirms that the latest deal takes out Morgan Stanley from the ownership picture.. It's unknown what valuation this deal comes in at.
“Northleaf is the right long-term strategic partner for us as they bring strong creative sensibilities and private markets expertise as well as access to flexible capital to support our growth strategies within the music royalty space,” Cameron said in a statement. Spirit Music also represents such recent tunes as Luke Bryan’s “Waves,” Lainey Wilson’s “Things A Man Oughta Know,” Thomas Rhett’s “Country Again,” Scott McReery’s “You Time,” Drake’s “Way 2 Sexy” and Champagne Poetry.”
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