Hipgnosis Track Administration has introduced the acquisition of a career-spanning catalog created by legendary Canadian artist and composer Leonard Cohen.
The acquisition marks a landmark deal for the personal, Blackstone-backed Hipgnosis Songs Capital ICAV fund, a separate entity to the UK-listedHipgnosis Songs Fund.
Each of these funds (Hipgnosis Songs Capital and Hipgnosis Songs Fund) have their investments managed by Hipgnosis Track Administration, wherein Blackstone is additionally an investor.
Hipgnosis has acquired an curiosity in all 278 songs and derivatives written by Leonard Cohen.
Inside these 278 compositions, 127 songs are from Leonard Cohen’s Stranger Music catalog, for which Hipgnosis has acquired the author’s share of royalties.
(The Stranger Music catalog covers the interval from the inception of Cohen’s profession via to the yr 2000 and consists of all by-product works, making a complete of 211 songs. The writer’s share of those works is owned by Sony Music Publishing.)
This catalog consists of Hallelujah, which has been lined greater than 300 instances and bought virtually 10 million information, along with being streamed greater than 5 billion instances throughout all companies.
Hipgnosis has additionally acquired the possession of 100% of the copyrights – together with writer’s share and author’s share – of royalties within the Previous Concepts catalog, which consists of 67 songs plus by-product works written by Leonard Cohen from 2001 till his dying, at age 82, in 2016.
The Cohen Property was represented within the deal by very long time Leonard Cohen supervisor, Robert Kory, plus KR Capital Companions and Jonathan Friedman at Stubbs, Alderton and Markiles LLP.
Merck Mercuriadis, Founder and CEO of Hipgnosis Track Administration, mentioned: “To now be the custodians and managers of Leonard Cohen’s incomparable songs is a superb but very severe duty that we method with pleasure and totally perceive the significance of.
“Leonard wrote phrases and songs which have modified our lives, none extra so apparent than Hallelujah however there are such a lot of extra that we stay up for reminding the world of every day. He’s revered everywhere in the globe due to the magnitude of his work and we’re delighted that the Cohen household and Robert Kory have chosen Hipgnosis on this most essential resolution of who to entrust with Leonard’s legacy.
“We welcome them to the Hipgnosis household and stay up for working collectively to honour the songs of the nice Leonard Cohen.”
“To now be the custodians and managers of Leonard Cohen’s incomparable songs is a superb but very severe duty.”
Merck Mercuriadis, Hipgnosis
Robert Kory mentioned: “Merck Mercuriadis is exclusive within the music publishing world along with his background as an artist supervisor. We all know he cares about artists, and as a Québécois he has a very deep appreciation of Leonard’s distinctive standing in fashionable music. {The catalogue} is in good arms. The Hipgnosis staff has been a pleasure to work with all through the transaction.”
The Leonard Cohen catalog buy is the second publicly introduced acquisition for the Hipgnosis Songs Capital fund, which has a billion dollars-worth of backing from Blackstone.
In January, Hipgnosis introduced it had acquired an 80% stake within the recorded music royalty stream of nation star Kenny Chesney.
Except for Hallelujah and Suzanne, Leonard Cohen is thought for different hits together with So Lengthy Marianne, Chook on a Wire, Well-known Blue Raincoat, I’m Your Man, Democracy, Dance Me to the Finish of Love, All people Is aware of, First We Take Manhattan, Coming House and most lately, You Need it Darker.
Amongst Cohen’s three Grammy awards, the artist gained a Grammy Lifetime Achievement Award in 2010, in addition to being honored with a posthumous Grammy in 2017 for Finest Rock Efficiency for the observe You Need It Darker.
As well as many different accolades, Cohen can also be a five-time Juno Award winner.Music Enterprise Worldwide
