Hipgnosis Songs Fund Raises an Additional £75m for Future Acquisitions
Hipgnosis Songs
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Hipgnosis secures additional capital to fund potential purchases
This past Friday, Hipgnosis Songs Fund announced that it had raised an estimated £75 million (approximately $103 million) in connection with its latest sale of shares.
According to a Music Business Worldwide report, Morgan Stanley Investment Management was at the forefront of the activity.
In line with Morgan Stanley’s financing, existing investors provided the remaining amount.
The report also stated, “It means that not only does Hipgnosis have access to Morgan Stanley money, but that UK-listed Hipgnosis has also, for the first time, welcomed a US-based institutional investor into its business”.
The recent sale is just the start of Hipgnosis’s fundraising initiatives for 2021.
Hipgnosis recently published a prospectus which outlines its annual goals of raising more than $2 billion through issuing shares.
Kevin James has over 20 years of experience in the entertainment industry in various facets. He has worked as a recording artist, songwriter, producer, on-air radio personality, background actor and film director. Kevin is a Member of the National Writer's Union.