Guns N’ Roses Former Manager Merck Mercuriadis Seeks New Venture
According to FNLondon
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A fund offering investors the chance to profit from some of the best-loved music of the last 50 years is seeking to raise £200m on the London Stock Exchange.
Hipgnosis Songs Fund, which invests in musical intellectual property rights, said on Wednesday that it has identified catalogues of “proven, evergreen songs from award winning songwriters” and aims to offer attractive returns by acquiring the associated copyrights.
The fund was set up by music industry veteran Merck Mercuriadis, who has in the past managed rock bands including Guns N’ Roses and Iron Maiden as well as individual artists like Elton John and Beyoncé. The American songwriter and producer Nile Rodgers is an adviser to the fund.
Hipgnosis is hoping to benefit from changes in the way music is acquired and consumed around the world. It said in a statement that global music revenues are “predicted to increase due to penetration of smartphones and a reduction in piracy rates in emerging markets, global synchronisation income being more trackable, and integration of music technology in other products”.
It added that investors in its fund would have exposure to hits from more than 50 recording artists that span the last five decades and include 10 number one songs in the UK and US.
The small and mid-cap stockbroker N+1 Singer Advisory is adviser and bookrunner on the initial public offering.