London-listed songs investment fund, Hipgnosis, has appointed famed record industry dealmaker Richard Rowe as executive vice president.
Rowe, who was president of Sony Music Publishing for nearly 15 years, is known for making the deal that saw Sony ATV acquire the iconic Beatles’ back catalogue from Michael Jackson.
The veteran co-founded royalty fund Round Hill Music, which floated in November valued at £344 million.
Hipgnosis, which has raised more than £1 billion from investors since floating in 2018, has been on a buying spree this year - snapping up rights ranging from Michael Bublé albums to music by Neil Young, and Shakira’s 145-song back catalogue.
The fund was launched by Merck Mercuriadis, former manager to Beyoncé. He said: “Richard is one of the most important and successful executives in the music industry.
“His experience is second to none and he will be adding an additional layer of expertise to our investment and finance teams.”
Rowe said: “Music publishing is evolving at a fast pace and Hipgnosis is leading that charge.
“I am excited to have this opportunity to be part of the next stage of its growth.”