LONDON (CelebrityAccess) — Merck Mercuriadis’ Hipgnosis Songs Fund Ltd, an investment vehicle for music rights, announced the acquisition of the music catalog of British songwriter Jamie Scott.
Scott’s catalog features 144 songs, including hits recorded by high profile artists such as Ed Sheeran, Nelly Furtado, Little Mix and 5 Seconds of Summer, among others.
Scott also has co-writing credits on more than two dozen songs for the British boyband One Direction, including hits “Drag Me Down” and “Story of My Life.”
“From 29 songs that drove the seminal boy band of their generation, One Direction, to Rag N’ Bone Man to this year’s Ivor Novello nomination with Rudimental featuring Jess Glynne, Macklemore and Dan Caplen, Jamie never fails to deliver. Nile Rodgers and I love working with him and Rick, and we are delighted to welcome them to the Hipgnosis family,” Mercuriadis told Music Business Worldwide.
The catalog will continue to be administered by Sony/ATV.
Hipgnosis, which is domiciled in the financial haven of Guernsey, debuted in 2018 after raising more than £200 million in its initial round of fundraising. Last month, Hipgnosis added a second successful round of fundraising, adding approximately £141.5 million to its war chest.
“Having raised over £140 million today and almost £350 million since the IPO, I am delighted that we have this tremendous early support from best-in-class investors as this is not only a vote of confidence in Hipgnosis, it’s an acknowledgment of the power of hit songs all over the world,” Mercuriadis said earlier this month.
“Thanks to streaming, the music industry, once again, has its best days in front of it and our aim is to highlight the fact that great songs, and their creators, are its most valuable currency while delivering a great return for our investors,” he added.