Hipgnosis Songs, a music IP investment company set up by former Beyoncé and Guns N' Roses manager Merck Mercuriadis, has raised £200 million ($260 million) in investment capital to fund the acquisition of hit songs and copyrights.
The Guernsey-registered business, which is listed on the London Stock Exchange, says it is initially looking to acquire eight catalogs from well-known songwriters, spanning over 1,000 songs, including more than 10 Number 1s in the U.K. and U.S. The targeted catalogs are said to include compositions from each of the past five decades and include hits that have been performed by more than 50 global artists.
A prospectus published last year ahead of an aborted IPO identified Adele, Beyonce, Justin Bieber and Kanye West among the recording artists identified. Hipgnosis' current prospectus doesn't mention any artist names, but does state that the "pipeline catalogs" it is looking at "contain proven, evergreen songs from award- winning songwriters… well suited to the company's investment strategy."