Ogier’s Corporate and Dispute Resolution teams in Guernsey have advised Lyra Bidco, a newly formed company indirectly wholly owned by investment funds advised by affiliates of Blackstone., on the acquisition of Hipgnosis Songs Fund.
This took place by means of a Royal Court of Guernsey sanctioned scheme of arrangement.
The acquisition values Hipgnosis Songs Fund Limited’s entire issued ordinary share capital at approximately US$1.572 billion.
Hipgnosis was launched in 2018 to offer investors a pure-play exposure to music royalties and their associated intellectual property rights with a focus on building a diversified portfolio, acquiring catalogues that are built around proven hit songs of cultural importance by some of the most talented and important songwriters globally.
Since launch, Hipgnosis has built a portfolio currently comprising 138 catalogues with more than 40,000 songs, containing copyright and income streams derived from compositions performed by some of the top artists of the past 50 years. Hipgnosis’ portfolio is diversified across genres, artists, vintages and right types.
The multi-disciplinary Ogier team advising included partners Richard Sharp (main picture) and Bryon Rees, counsel James Walsh, senior associate Diana Collas and associate Amy Parker advising on the corporate elements of the transaction, with partner Alex Horsbrugh-Porter, managing associate Michael Rogers and associate Margeaux Newman advising in respect of and undertaking the advocacy.
Ogier worked with lead counsel Kirkland & Ellis International LLP and provided a full range of Guernsey corporate, regulatory, advocacy and finance law advice.
