Music industry veterans Hank Forsyth and Dan McCarroll, together with Carlyle’s (NASDAQ: CG) Global Credit platform, has announced the launch of Litmus Music. Litmus will acquire and manage music rights, including both music publishing and recorded music, across genres, geographies, and vintages. Carlyle Global Credit has initially committed US$500 million in both equity and debt, alongside capital committed by management, which will be used to launch the business and fund the pursuit of a robust pipeline of music rights targets.
Latham & Watkins LLP represents Carlyle Global Credit in the transaction with a corporate deal team led by partners Stelios Saffos, Cory Tull, Rick Offsay, and Peter Sluka, with associates Brad Guest and Brad Johnson. Advice was also provided on finance matters by counsel Marcela Ruenes, with associate Julio Martinez Rivas; on tax matters by partner Jocelyn Noll, with associate Shruti Hazra; and on benefits & compensation matters by partner Dave Della Rocca, with associate Courtney Thomson.