Blackstone completed its acquisition of Hipgnosis Songs Fund, leading the latter's shares to be suspended from trading.
Blackstone has officially completed its $1.6-billion acquisition of Hipgnosis Songs Fund , bringing an end to the six-year-old, London-listed investment trust that amassed a catalog of 65,000 copyrights including songs byon July 8 and a court approval on Friday , the acquisition scheme was delivered to the Guernsey Register on Monday , according to a. As a result, all HSF shares are now owned by Blackstone and trading was suspended on Monday.
As the music industry soared on the back of streaming growth, the publicly traded HSF ran into turmoil. By 2021, a deflated share price hampered HSF’s ability to raise additional capital to acquire more catalogs. Shareholders were frustrated by a series of missteps and voted against continuation in 2023, which prompted HSF’s board to conduct a strategic review that produced evidence of
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