The new name brings three previously separate Hipgnosis companies — both catalog acquisition funds and their investment manager — under one management team.
An investor group led by Blackstone now holds a key piece of the accounting giant, which owns one of music's most powerful valuation firms.
Following ownership moves at BMI and GMR, SESAC is the latest performance rights organization to receive interest from financial investors as the sector heats up.
Acquired from Hipgnosis Songs Fund in July, the 45,000-song catalog includes songs by the Red Hot Chili Peppers, Neil Young and Shakira.
A pair of lawsuits over $1.5 million in unpaid bonuses provide a look into the kinds of contracts that Hipgnosis entered into during its acquisition spree.
Trading of HSF shares were suspended Monday and will be removed from the London Stock Exchange on Tuesday.
With 99.97% of shares voted voting for its $1.6 billion offer, Blackstone now owns 100% of the company that popularized music as an asset class
The private equity giant is sticking to its offer of $1.31 per share, which values Hipgnosis Songs Fund's share capital at $1.584 billion.
Concord said on Thursday it would not raise its bid to beat Blackstone's $1.6 billion offer for the publicly listed music royalty fund.
Concord's offer of $1.25 per share has been rejected, with HSF directors now recommending shareholders go with Blackstone.
