CALGARY (CelebrityAccess) – Music buying fund, ICM Crescendo Music Royalty Fund, has acquired what it says is Albert Grossman’s “commission rights” to classic recordings performed by Janis Joplin and Gordon Lightfoot.
Legendary manager Albert Grossman managed Bob Dylan, The Band, Janis Joplin, Gordon Lightfoot, Todd Rundgren, Peter, Paul, and Mary, and several other iconic artists. He also established Bearsville Record and Studios in Bearsville, NY.
The ICM Crescendo Music Royalty Fund was formed through a partnership between ICM Asset Management and Crescendo Royalty Corporation in July 2020.
Founded in 2003, ICM Asset Management manages more than $1.2 billion of assets across real estate, private equity, venture capital, and alternative income. The company has offices in Atlanta, Munich, and Mexico City.
The Fund has been buying up rights since its launch. In addition to the Albert Grossman deal, the fund has recently bought the following:
~In May, it acquired rights to six albums of songs by the American rock band, Sleeping With Sirens.
~In January, it acquired what it says was the “producer rights” from Chad Elliott for the songs “If You Leave” and “Jumpin’ Jumpin” by Destiny’s Child.
~In December 2021, it bought a catalog of pop and hip hop songs from engineer and producer Brian Kidd, such as “Do You Know” and “Dimelo” by Enrique Iglesias, “All About Tonight” by Pixie Lott, and “Can’t Get Enough” by J Cole.
~In November, it acquired an interest in the writer’s share and co-publishing royalties of The Exclusives, an R&B and hip hop songwriting and production team.
Joplin had five singles reach the Billboard Hot 100, including “Me and Bobby McGee,” which reached No.1 in March 1971. Some of her most popular songs include her cover versions of “Piece of My Heart,” “Cry Baby,” “Down on Me,” “Ball and Chain,” “Summertime,” and her original song and final recording, “Mercedes Benz.”
Lightfoot has topped the US Hot 100 charts with the hits “If You Could Read My Mind,” “Sundown,” “Carefree Highway,” “Rainy Day People,” and “The Wreck of the Edmund Fitzgerald.”