Last checked at 
30 May 2019 07:00
30 May 2019
Hipgnosis Songs Fund Limited ("Hipgnosis" or the "Company")
Acquisition of Music Catalogue
The Board of Hipgnosis Songs Fund Limited and its Investment Adviser, The Family (Music) Limited, are pleased to announce that the Company has acquired the music catalogue of Al Jackson Jr., an American drummer, producer, and songwriter.
Al Jackson Jr. is one of the most influential and revered songwriters, producers and musicians of the classic soul era of the 1960s and 1970s. As a founding member of Booker T & The M.G's, Al Jackson Jr. shaped the sound of Stax Records and their iconic artists who were a who's who of Southern soul, Memphis soul and Pop Radio.
Al Jackson Jr. co-wrote and played on some of Al Green's most successful songs, including the US Top 5 Pop hits: 'I'm Still In Love With You', 'You Ought To Be With Me', 'Look What You Done For Me', and 'Call Me' as well as Al Green's signature song 'Let's Stay Together'. 'Let's Stay Together', which reached Number 1 in the US, is ranked 60th by Rolling Stone in their '500 Greatest Songs of All Time' and was inducted into the Grammy Hall of Fame in 1999. The catalogue also includes Booker T & The M.G's Top 10 tracks 'Time is Tight' and 'Green Onions'. 'Green Onions' is regarded as one of the most popular instrumental rock and soul songs of all time and was introduced into the Grammy Hall of Fame in 1999. It has featured in numerous movies and TV shows, including Quadrophenia, The Sandlot and The Sopranos.
In addition to co-writing some of the greatest songs of all time, the catalogue includes Al Jackson Jr.'s artist royalties on some of the most significant recordings of the era which he co-produced or featured on as a drummer. These include Otis Redding's global Number 1 '(Sittin' On) The Dock of the Bay', which won two Grammy Awards, as well as Bill Withers' timeless album 'Just as I am' which includes the legendary US Top 5 single 'Ain't No Sunshine' and the soul classic 'Grandma's Hands'.
With Booker T & The M.G's, Al Jackson Jr. was introduced into the US Rock and Roll Hall of Fame in 1992 and the Memphis Music Hall of Fame in 2012. He was separately introduced individually into the Memphis Music Hall of Fame in 2015.
Hipgnosis has acquired 100% of the copyright interest in Al Jackson Jr.'s catalogue, which includes his writer's, producer's and artist's share of income, comprising of 185 compositions and 199 recordings.
Merck Mercuriadis, Founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited, said:
"The word evergreen is used far too frequently to truly express the incredible power of Al Jackson Jr.'s work as a co-creator of some of the finest music of all time. Whether as songwriter, producer, musician, or artist his incredible influence on songs and recordings as important as Al Green's 'Let's Stay Together', Booker T & The M.G's 'Green Onions', Bill Withers' 'Ain't No Sunshine' and Otis Redding's '(Sittin' On) The Dock Of The Bay' to name but a few is as much a foundation of American music as any. This is not just pop music, or black music, or American music. This music is part of the foundation on which the entire world spins. We are proud to be the custodians of Al Jackson Jr.'s incredible work and to celebrate him in a way that is worthy of his almost singular achievements."
For further information, please contact:
The Family (Music) Limited Merck Mercuriadis
| Tel: +44 (0)1481 742742 |
N+1 Singer James Maxwell / James Moat (Corporate Finance) Alan Geeves / James Waterlow / Sam Greatrex (Sales)
| Tel: +44 (0)20 7496 3000 |
The Outside Organisation Alan Edwards / Nick Caley | Tel: +44 (0)7711 081 843 |
NOTES TO EDITORS
About Hipgnosis Songs Fund Limited
(www.hipgnosissongs.com)
Hipgnosis, which was founded by Merck Mercuriadis, is a Guernsey registered investment company established to offer investors a pure-play exposure to songs and associated musical intellectual property rights. In its Initial Public Offering on the Specialist Fund Segment of the London Stock Exchange's main market on 11 July 2018, the Company raised approximately £200m gross equity capital. In its Subsequent Placing under its Placing Programme on 12 April 2019, the Company raised approximately £140m of further equity capital.
About The Family (Music) Limited
The Company's Investment Adviser is The Family (Music) Limited, which was founded by Merck Mercuriadis, former manager of globally successful recording artists, such as Elton John, Guns N' Roses, Morrissey, Iron Maiden and Beyoncé, and hit songwriters such as Diane Warren, Justin Tranter and The-Dream, and former CEO of The Sanctuary Group plc. The Investment Adviser has assembled an Advisory Board of highly successful music industry experts which include award winning members of the artist, songwriter, publishing, legal, financial, recorded music and music management communities, all with in-depth knowledge of music publishing. Members of The Family (Music) Limited Advisory Board include Nile Rodgers, The-Dream, Giorgio Tuinfort, Starrah, Nick Jarjour, David Stewart, Bill Leibowitz, Ian Montone, and Jason Flom.