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GOOD TIMES AT LONDON STOCK EXCHANGE

Nile Rodgers performed a gig at the London Stock Exchange today—bet you never thought you’d read that—to celebrate the floatation of Hipgnosis Songs Fund, helmed by manager Merck Mercuriadis, and its first signing, top songwriter The-Dream.

The City suits were seen shaking off the mid-week slump to “Le Freak,” “We are Family” and “Good Times.”

To recap, Hipgnosis will acquire songs and their associated copyrights, enabling investors to benefit from music royalties and related income from those songs, and has raised over £200m. Its first signing is a big one: four time Grammy-winner The Dream has written for Rihanna, Justin Bieber, Beyonce, Jay-Z and Kanye West.

Its first acquisition is a big one: a 75% interest in the catalog of four-time Grammy winner The-Dream for $23.75m. That comprises 302 songs, including #1s "Umbrella" by Rihanna, "Single Ladies" by Beyonce, "Baby" by Justin Bieber and "Touch My Body" by Mariah Carey. The remaining 25% will be kept by The-Dream.

"It’s critical for us to set the highest standards with our first acquisition,” Mercuriadis said. “The-Dream is not only arguably the culturally most important songwriter of his generation, but he has written the marquee songs for the culturally most significant artists of our time including Beyoncé, Rihanna, Justin Bieber, Jay Z and Kanye West.

"It’s an honour for this to not only be our first order of business but also to welcome Dream to our Advisory Board. He is a catalyst on so many levels and a big part of our future.”

The-Dream noted, “Merck is a music titan who began his career well before I ever imagined having one. His futuristic views captured my attention and instantly made an impact. Merck sees me as I see myself. I sought out to be my generation’s Babyface and Dr. Dre, he sees the same.

"In making this decision I said to Merck 'I need a Jimmy Iovine in my life', not just to nurture my songs but to also help solidify the legacy I seek for myself and my songs even after I’m gone, for my children and beyond. His reply was simply 'Got it!' and after came action like the one you see playing out today in real time. So here we are one step in the face of the endless future.”

 

 

 

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