Wondering if 2020’s spate of mega catalogue deals is going to slow down in 2021? Well, not if Round Hill has anything to do with it…
Round Hill Music Royalty Fund has announced it has raised a further $46.1m (£33m) in share issuances. That brings the total capital raised for Round Hill Music Royalty Fund to $328.5m (£242m), which it says is the largest amount of capital raised for a new London listed investment company in 2020.
It raised $282m (£212m) via its IPO in November.
Round Hill has catalogues with more than 120,000 songs by artists including The Beatles, Celine Dion, The Rolling Stones, Louis Armstrong, Elvis Presley and Katy Perry. But it will be competing with the likes of Hipgnosis and Primary Wave, which have been rapidly buying up copyrights.
And the majors have indicated their continued willingness to compete, with Universal Music Publishing Group recently stumping up close to $400m to bring Bob Dylan’s catalogue across from Sony/ATV. Meanwhile, Music Week broke the news that Dolly Parton was contemplating selling her stellar song catalogue.
Round Hill says the proceeds from its fund raising will ensure it has sufficient capital, combined with its ability to utilise gearing of up to 25% of economic NAV to acquire all of its pipeline investments, which it describes as “a seasoned portfolio of iconic catalogues including a large number of timeless iconic hits featuring some of the world’s best known artists”.
Watch this space…
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