A new asset class
HIPGNOSIS Songs Fund Limited has brought a new asset class to the London Stock Exchange, providing investors with exposure to songs and associated musical intellectual property rights.
Hipgnosis is a Guernsey registered investment company that was admitted to the London Stock Exchange just over two years ago after an initial public offering (IPO) of € 202.2 million. He has now lifted a total of over 860m. of the market.
Hipgnosis was founded by Merck Mercuriadis, the former director of successful international artists such as Elton John, Iron Maiden and Beyonce. His vision is to create a $ 2 billion fund that invests in the best music catalogs while recognizing the contribution of songwriters and promoting their interests in the economic equation. This provides the investment community with a new asset class which, through expert management of acquired songs, delivers strong and growing returns for shareholders.
A success story
Hipgnosis was a real success story, rising over 860m. in total via its IPO in July 2018 and four subsequent issues. In August 2020, another milestone was taken when its market capitalization exceeded $ 1 billion for the first time.
This level of success saw Hipgnosis be promoted to the FTSE 250 Index in March 2020, after only 20 months since its first fundraiser. With a strong catalog pipeline, new fundraising activities should be on the horizon.
Hipgnosis now has over 50 music catalogs comprising over 13,000 songs, some of which are the most culturally significant and commercially successful songs of all time, including Journeys Dont Stop Believin, Amy Winehouses Back to Black and Ed Sheerans Castle on a Hill to put it mildly. but a few.
There’s more to come too, with Hipgnosis continuing to build a huge pipeline to give the financial community access to songs as an asset class that have very low correlation with broader markets.
Guernsey is a vibrant offshore financial center. Due to its stable financial and political environment, flexible regulatory regime, and thriving financial services industry, it continues to be a popular home destination for funds and a channel for global businesses. Its effectiveness as an agile jurisdiction was embodied in the way it weathered the Covid-19 pandemic
Involvement of Ocoriens
Hipgnosis not only needed an experienced fund administrator who could provide a highly personalized service and support them through the initial stages of the funds, but they also needed an administrator with the scale required to service the fund. throughout their ambitious growth journey and we have been working with them since the creation of the funds.
Ocorian provides all day-to-day administration, accounting, corporate secretarial, governance and regulatory services, ensuring the efficient operation of the fund and subsidiaries in compliance with all applicable regulations and best practices.
We are very proud to be part of the Hipgnosis family and delighted to support the fund throughout its incredible journey of growth, adapting and tailoring our services as the fund has grown to meet investor demand. .
Ocorian has extensive experience in providing flexible and tailor-made services to a wide variety of London Stock Exchange listed hedge funds.
Our experience in serving new promoters and partnering with funds throughout their lifecycle means that we continue to support Hipgnosis on its growth journey.
Fund administration is a highly specialized service that requires precision and expertise for investment managers to focus their efforts on formulating and implementing a distraction-free strategy.
Ocorian combines high level technical experience with a proven track record in the administration of fund structures, both private and listed, investing in alternative asset classes.
Contact us at ocorian.com to discuss how we can meet your specific fund needs or if you would like to join our successful and growing team.
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