UK-listed Hipgnosis Songs Fund (HSF) has today (September 14) issued its shareholders a proposal to sell 29 catalogs from its portfolio for USD $440 million to another Hipgnosis fund – the private, Blackstone-backed Hipgnosis Songs Capital (HSC). In an announcement to its investors this morning, Hipgnosis Songs Fund makes no bones about one of its primary motivations for selling the 29 catalogs to HSC: That it will act “as a catalyst for a re-rating of [HSF’s] share price”.
