Round Hill Music Royalty Fund raises $282m on the London Stock Exchange

 By Emmanuel Legrand

Round Hill Music Royalty Fund has successfully completed its IPO on the London Stock Exchange, raising some £212m ($282 million) in the process, lower than its $375m target. The fund, incorporated in Guernsey, promises steady returns on investment from the exploitation of its intellectual property.

  Round Hill Music, the private equity firm founded in 2010 by Josh Gruss dedicated to investments music copyright assets, will act as the private equity firm for the fund. Cenkos Securities acted as sole bookrunner and financial adviser to the company.

  “I am delighted to announce the successful IPO of Round Hill Music Royalty Fund Limited," said Trevor Bowen, chair of Round Hill Music Royalty Fund. "When considered against the global turbulence prevalent during the IPO process due to Covid-19, this achievement clearly demonstrates a strong investor appetite for both the music royalty asset class, the performance of which is highly uncorrelated to movements in the global economy, and the recognised expertise of the Round Hill team as an investment manager in this sector."

  Bowen added that the company has identified a portfolio of assets containing "exceptional songs and catalogues including classic tracks from some of the world’s best-known artists that are already extremely familiar to the investment manager." He concluded: "We will actively progress and update on our intention to purchase the identified portfolio for the company as soon as practical.”