• The deal covers five albums that were released by Capitol Records between 2008 and 2020, which include 16 multiplatinum singles
  • Litmus Music was launched in 2022 by veteran music executives Hank Forsyth and Dan McCarroll with a $500 million equity investment from Carlyle

Litmus Music, a music rights business that’s backed by Carlyle‘s global credit platform, have agreed to acquire some of Katy Perry’s music catalog.

Carlyle declined PE Hub‘s request to comment on the terms of the deal, but media outlets have pegged it at $225 million.

The deal covers the music rights to five albums that were released by Capitol Records between 2008 and 2020, which include 16 multiplatinum singles.

“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture,” said Matt Settle, managing director at Carlyle in a statement.

In August 2022, Litmus Music was launched by veteran music executives Hank Forsyth and Dan McCarroll with a $500 million equity investment from Carlyle.

Carlyle Global Credit has invested capital for this partnership from its Credit Opportunities strategy, and has deployed more than $3 billion in and around the sports, media, and entertainment space since 2018.