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Hipgnosis Songs Fund came under further pressure a day after the music investor announced it will sell some of its catalogues, including hits by pop star Shakira and rapper Nelly, for £370m.
Justin Bieber sold the rights to his recording career to London-listed company Hipgnosis Songs Capital, with sources telling Variety that the singer’s tunes will continue to be administered by Universal Music where he has been throughout his career.
Sylvia Coleman, senior independent director of Hipgnosis Songs Fund, said: “The board and the investment adviser have each engaged widely with investors over recent months.