His departure from the company will be effective upon closing of the proposed acquisition of Hipgnosis Songs Fund Limited by Lyra Bidco Limited, a company owned by Blackstone-managed funds. Blackstone already owns two other elements of Hipgnosis — the investment fund Hipgnosis Songs Capital and the advisor Hipgnosis Song Management.
Source: Merck Mercuriadis to Exit as Hipgnosis Song Management Chairman Ahead of Blackstone Acquisition