Pegasus Capital Advisors Acquires Spirit Music Group

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Pegasus Capital Advisors Acquires Spirit Music Group

Pegasus
Capital Advisors announced today that an affiliate has acquired a
majority interest in New York-based Spirit Music Group. Spirit controls
a catalog of thousands of classic and contemporary songs, providing a
full range of administration and promotion services for its works as
well as other catalogs.

Spirit is the fastest growing
independent music publisher of the last decade, representing hundreds
of hits and thousands of titles spanning seven decades and virtually
every music genre. The copyrights the company represents range from the
standards of Frank Sinatra and Billie Holliday to the pioneering rock
of Elvis Presley, Chubby Checker and Dion; from the seminal blues of
Elmore James and Lightnin’ Hopkins to the envelope-pushing jazz of
Charles Mingus; from the timeless soul of Chaka Khan to the influential
work of Lou Reed and The Grateful Dead and massive pop hits by Madonna,
Mariah Carey, Janet Jackson and Jay-Z. Spirit Music’s collection of
works reflects more than 700 charted hit songs.

“Spirit Music
Group is a great success story, having reached a leadership position in
the music world in a relatively short period of time. Its portfolio of
songs and songwriters is stellar and its advocacy on behalf of its
clients is the best in the industry, ” said Craig Cogut, founder and
co-managing partner of Pegasus. “We’re delighted to be partnering with
this talented organization and see it as an ideal platform for
additional investment in the music industry.”

“All of us at
Spirit are delighted that Pegasus has made this investment. Pegasus’
resources — both financial and human — will help us at Spirit to
expand our client services and continue to build a second-to-none music
catalog, ” said Mark Fried, CEO of Spirit Music Group.

About Pegasus Capital Advisors

Pegasus
Capital Advisors, L.P. is a private equity fund manager that provides
creative capital and strategic solutions to middle market companies
across a wide variety of industries. It is currently pursuing
initiatives in several key emerging sectors, including alternative
energy, all-natural human and pet foods, alternative building
materials, LED lighting, homeland security and sustainable business
solutions in a number of industries. Established in 1995, Pegasus has
cumulatively managed approximately $2 billion in assets through several
private equity funds and has made more than 70 investments. The firm
employs over 50 uniquely talented investment and advisory professionals
located in Cos Cob, CT and New York, NY, as well as several satellite
offices. “>www.spiritmusicgroup.com.

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