Ogier's leading funds advisers in Guernsey have assisted first-of-its-kind music fund Hipgnosis Songs Fund Limited with its latest £75 million fundraising.
The funds team provided Guernsey law advice on the issue of new shares in Hipgnosis in the latest round of fundraising. The shares in Hipgnosis, which owns music from artists including Shakira and Metallica, were admitted to trading on the Main Market of the London Stock Exchange on 10 February 2021.
Hipgnosis is the first UK listed investment company offering investors a pure-play exposure to songs and associated musical intellectual property rights. Ogier has advised the fund since its launch and initial listing in 2018.
"We were delighted to assist Hipgnosis with achieving yet another significant milestone for the company. It's an excellent start to 2021 for the fund and we look forward to seeing its continued growth this year," said partner Craig Cordle, who headed up a team including senior associate Charlotte Brown and associate William Schofield.
Hipgnosis is a Guernsey registered investment company and was founded by Merck Mercuriadis, the former manager of globally successful recording artists, such as Beyoncé, Elton John, Morrissey, Iron Maiden and Guns N’ Roses.