Hipgnosis buys music royalty catalogue of 'godfather of Chicago hip hop'
Purchase comprises 273 songs
Hipgnosis Songs Fund has purchased 100% of the music royalty catalogue of renowned US hip hop and R&B producer Ernest Dion Wilson, known as No I.D.
The purchase of the artist's international copyright and publishing loyalties comprises 273 songs, and includes the writer's share of income.
No I.D., whose songs and productions have collectively been streamed more than 7 billion times, has collaborated with the likes of Kanye West, Jay-Z, Rihanna, Ed Sheeran, Drake and Common.
Known affectionately in the music industry as 'The Godfather of Chicago hip hop', he first rose to fame in the early 1990s following the production of Common's album Resurrection.
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In 2007, No I.D. began co-writing alongside Jay-Z on his US number one and platinum-certified album American Gangster. He teamed up with Jay-Z two years later, co-writing and producing six songs on The Blueprint 3 album.
The LP spawned the worldwide smash hit Run This Town featuring Kanye West and Rihanna, and would go on to win a Grammy Award for Best Rap Song and Best Rap/Sung Collaboration in 2010.
Other success stories under No I.D.'s belt include Kiss Me by Ed Sheeran, Kanye West's platinum-certified Black Skinhead, which has been streamed more than 600 million times, and 4x platinum-certified Holy Grail by Jay-Z and Justin Timberlake, which has seen more than 40 million streams.
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Merck Mercuriadis, founder of the Hipgnosis Songs fund, said: "The words No I.D. are a stamp of excellence on any album. From Kanye West's 808s & Heartbreak, My Beautiful Dark Twisted Fantasy and Yeezus to Jay-Z's astonishing run from American Gangster through to The Blueprint 3, Magna Carta Holy Grail and 4:44, Dion has been in the middle of everything that is great about hip hop for more than two decades.
"He is a special creator and everyone in the Hipgnosis family is proud to have him standing next to us."
No I.D. added: "Not many have the best intentions for the artist and the creators. Merck and the Hipgnosis team have shown that they are a safe home for the songs that score our lives."
Since its launch in July 2018, the £606m Hipgnosis Songs Fund has returned 28% in total return terms, according to data from FE fundinfo. It currently trades on a premium to NAV of 25% and has a dividend yield of 4.1%.
Earlier this month, the trust acquired Blondie and Barry Manilow's music catalogues, while at the end of last month, purchased the royalties and intellectual property of award-winning producer and songwriter Rodney 'Darkchild' Jerkins.
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