Akin Gump Advises Lyric Capital Group in $500M Strategic Alliance with Northleaf Capital Group
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(New York) – Akin Gump advised Lyric Capital Group, a market leader in the music royalty space and the owner of independent music publisher Spirit Music Group, in its strategic alliance with Northleaf Capital Partners, through which funds managed by Northleaf hold an interest in certain music royalty catalogs managed by Lyric Capital Group.
Northleaf led the $500 million investment, in which Caisse de dépôt et placement du Québec, a global investment group, was a significant co-investor.
The Spirit Music Group portfolio is largely made up of mature music royalty assets managed by Lyric Capital Group and represents combined catalogs totaling over 100,000 songs. It is one of the largest and most diversified independent music portfolios and includes iconic catalogs with 800+ charted hits and 200+ number one songs.
Akin Gump tax partner Patrick Fenn and counsel Menachem Danishefsky advised on all tax aspects of the transaction. Corporate senior counsel Carlos Villota advised on the financing.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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