Ogier in Guernsey advises Blackstone on US$1.572bn Hipgnosis acquisition

Ogier's Corporate and Dispute Resolution teams in Guernsey advised Lyra Bidco Limited, a newly formed company indirectly wholly owned by investment funds advised by affiliates of Blackstone Inc., on the acquisition of Hipgnosis Songs Fund Limited 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.

The multi-disciplinary Ogier team advising included partners Richard Sharp 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.

Blackstone Inc. is one of the world’s leading investment firms, with US$1 trillion in assets under management as at 31 December 2023, including investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.

Hipgnosis Songs Fund Limited (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.