Music industry veterans Hank Forsyth and Dan McCarroll, together with Carlyle’s (NASDAQ: CG) Global Credit platform, have announced the launch of Litmus Music. 

The venture has an initial $500 million at its disposal, and aims to acquire and manage music rights, including both music publishing and recorded music, across genres, geographies and vintages.

The team bring decades of music industry experience to the table, with Forsyth holding various executive roles at Warner Chappell Music, EMI Music, and Blue Note Records, and McCarroll previously serving as president of Warner Brothers Records and Capitol Records, and holding executive roles at Amazon Music and EMI Music Publishing.

“Our partnership with Hank and Dan, two highly regarded executives in the music industry, underscores the value we see in music rights, driven by strong tailwinds and the uncorrelated nature of the asset class.”

– Matt Settle, Carlyle Global Credit

Matt Settle, Managing Director with Carlyle Global Credit, said, “Our partnership with Hank and Dan, two highly regarded executives in the music industry, underscores the value we see in music rights, driven by strong tailwinds and the uncorrelated nature of the asset class. Streaming and other new mediums have enabled more ways than ever to consume content, and we believe Litmus has the right mix of skills, experience and connectivity to develop a successful and differentiated business, and to care for works that people have spent their lifetimes creating.”