Music royalties firm Round Hill today said it is planning to raise $375m (£288m) through a listing on the London Stock Exchange.
Guernsey-based Round Hill Music Royalty Fund said it was targeting annual returns of between nine and 11 per cent through its investment in music intellectual property.
Founded in 2010, Round Hill is an owner and operator of music copyright properties and the seventh largest music company in the US.
The company invests in songwriters’ rights to songs and seeks to generate additional revenue from royalties by placing the music in films, TV shows and adverts.
The New York-headquartered group said it has identified a portfolio of catalogues that it intends to acquire with the proceeds of the float.
The catalogues consist of more than 120,000 songs by artists including The Beatles, Celine Dion, The Rolling Stones, Louis Armstrong, Elvis Presley and Katy Perry.
Round Hill chief executive Josh Gruss said the company was “delighted” at the prospect of listing in London.
“The prospect of offering investors the opportunity to potentially own a seed portfolio comprised of a flagship collection of Round Hill’s assets that has been carefully curated by our team over the past decade is very exciting,” he said.
“Round Hill as a business has carefully created a catalogue of songs that are timeless and high quality and we look forward to having the opportunity to develop and diversify the business further as a listed entity in London.”
Round Hill, which will list on the specialist fund segment of the London Stock Exchange, has so far raised more than $175m of net royalty income.
The newly-incorporated company will offer fresh competition to London-listed Hipgnosis Songs Fund, a music royalties investment firm led by Merck Mercuriadis and Nile Rogers.
Songs funds offer savvy investors the chance to cash in new sources of income through streaming platforms such as Spotify, Youtube and Tiktok.