Carlyle Group CEO says Taylor Swift catalog will be a 'successful investment'
Braun’s Ithaca Holdings and helped finance the $300 million deal Ithaca made to acquire Big Machine Label Group -- along with Swift’s entire back catalog -- from its founder, president and CEOThe sale immediately ignited an ongoing public dispute between Braun, Borchetta and Swift, who accused Braun of “incessant, manipulative bullying” against her for years and said she hadn’t learned about the deal until it was announced.
Swift subsequently announced a plan to circumvent the purchase of her master recordings by re-recording her back catalog, though she later accused Braun and Borchetta of trying to prevent it, saying and at the American Music Awards. In that same tweet, Swift sent out a plea specifically to Carlyle Group asking for help in the matter.
During the CNBC interview, Lee largely skirted Frost’s direct questions on the Swift dispute, noting he isn't “involved in the day-to-day of all of our portfolio companies.” When Frost quoted-- in which the Democratic presidential candidate said Swift “is one of many whose work has been threatened by a private equity firm" -- Lee also declined to directly address it.
“I do think private equity is a misunderstood industry,” he said. “We have an enormous value-added function in the economy because of the returns that we are providing to first responders, teachers, folks in unions.... We help businesses become better. We build better businesses. And everything that we do is to invest for impact. So, it is not only about looking for financial returns.”
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