StockMarketWire.com - Music rights investor Hipgnosis Songs Fund said it has acquired a share of the music catalogue of Grammy Award-winning songwriter and record producer Rick James.

Hipgnosis confirmed its acquisition of 50% of James' publishing interests, writers' share, neighbouring rights and recorded masters share of income in his catalogue comprising 97 songs.

James' album 'Street Songs' spent 78 weeks on the US R&B chart, including 20 weeks at Number 1, and included the global hit 'Super Freak'. As a producer, he worked with Eddie Murphy and The Temptations.

The catalogue was acquired using proceeds from the company's July C share fundraising.

Merck Mercuriadis, founder of Hipgnosis Songs Fund Limited and The Family (Music) Limited, said: 'We are delighted to welcome his iconic work to the Hipgnosis family and look forward to working closely with his daughter Ty James and his estate to ensure his legacy shines.'





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