|Hipgnosis Song Management (“Hipgnosis” or the “Company”), which offers investors a pure-play exposure to songs and associated intellectual property rights, has announced the Company’s acquisition of the writer’s share of performance income for all songs written by David Foster, the acclaimed Canadian songwriter, composer, musician, arranger and producer. The acquisition has been made on behalf of Hipgnosis Songs Capital, a partnership between Hipgnosis Song Management and funds managed by Blackstone. |
David Foster has been nominated for 47 Grammy Awards – winning 16 of them – in a one-of-a-kind career that spans more than five decades and includes songs and albums that have collectively sold in the hundreds of millions.
|Merck Mercuriadis, Chief Executive Officer and Founder of Hipgnosis Song Management, said: “David is recognized globally as one of the greatest songwriters and producers of all time. He is the songwriters’ songwriter and the producers’ producer. David is truly special, and we are delighted to be working with his almost 50 years of incredible songs and to welcome him to the Hipgnosis family.”|
David Foster said: “I’m very happy to be joining the Hipgnosis family. I’ve long admired what Merck and his team have built and I trust they will be terrific partners.”