Beyonce’s Former Manager Raises $260 million To Acquire The Rights To Her Music And Many Others
Merck Mercuriadis, ex-manager of Beyonce and Guns N’ Roses, owns the music IP investment company Hipgnosis Songs. According to reports, he’s raised $260 million from an investment capital fundraiser that he’d like to use to purchase the rights to over 1000 songs from at least eight artists. It’s speculated that those artists may include Beyonce, Adele, and Kanye West.
I’m delighted that the financial community is supporting our thesis that the proven hit songs we are targeting for acquisition are very investable assets.
I’ve spent the better part of the last 35 years advocating for great artists, songwriters and producers and my ambition is to grow the fund not only to provide great returns for our investors but equally well in due course to create the leverage that only critical mass can provide to change the songwriters position in the economic model.
Mercuriadis isn’t just going for any old songs. He’s seeking to collect more than 10 Number 1’s in the U.K. and U.S., spanning each of the past five decades.