Hipgnosis Songs Fund Limited (LON:SONG) has acquired a music catalogue from US-based songwriter and producer, Poo Bear.
The investment company, which listed on London’s main market in July, observed that Poo Bear has had Top 10 hits, with some of the biggest artists over the last 20 years, including Usher, David Guetta, DJ Khaled, Chris Brown, Fifth Harmony, Jennifer Lopez and Skrillex. He is best known as one of Justin Bieber's closest collaborators.
The company did not reveal how much it had paid for the catalogue, which comprises 214 songs in total.
"It's fortuitous to be able to acquire a song catalogue of this importance so early in its life,” claimed Merck Mercuriadis, the founder of Hipgnosis Songs Fund.
“Poo Bear is an extraordinary young man whose songs have not only been Number 1 and won Grammy Awards but also have a long life in front of them. In a streaming world that is growing every day his songs are at the forefront, ”Mercuriadis added.
#SONG bought a Catalogue of 214 Songs done by Poo Bear (this is not a joke tweet !!) - wrote most of Justin Bieber album & wrote that Disposcito Tune thing. Works with DJ Khaled, Usher, Chris Brown, J Lo, etc (I believe they are Popular Beat Combos). No value given. I don't hold
— WheelieDealer (@wheeliedealer) November 16, 2018
How Poo Bear Went From Homeless To Writing Justin Bieber?s Biggest Hits https://t.co/pfK6af5ZRz
— RAZRmusic (@Razrmusic_) November 16, 2018