Round Hill Music Royalty Fund Limited
RHILF
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ROIC.AI
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- Round Hill Music Royalty Fund Limited (RHILF) is a Guernsey-based closed-end investment company focused on acquiring and managing high-quality music intellectual property to deliver regular income and capital appreciation to investors. Incorporated in 2020 and listed on the Specialist Fund Segment of the London Stock Exchange, the company is headquartered at Ground Floor, Dorey Court, Admiral Park, St Peter Port, Guernsey. It targets small- to medium-sized music catalogs, typically comprising 100-1,000 copyrights, diversified across artists, genres (with emphasis on rock), decades (primarily pre-2010s), and royalty types including publishing rights (approximately 66-69%), master recordings (31-34%), mechanical royalties, performance royalties, and synchronization income. The fund owns and actively manages a portfolio of 51 catalogs encompassing over 150,000 songs by iconic artists such as The Beatles, Alice In Chains, The Offspring, Elvis Presley, Meat Loaf, James Brown, Billie Holiday, Johnny Cash, Aretha Franklin, Ella Fitzgerald, Peggy Lee, George Harrison, Celine Dion, Carrie Underwood, The Supremes, and Wilson Pickett; it also holds a stake in the Carlin Catalog. Revenue generation stems from proactive commercialization, including sync placements with global brands (e.g., Lay's Champions League campaign, Cacharel, F1, Meta, Netflix), digital streaming, licensing for films (e.g., John Wick 4 trailer), television (e.g., White Lotus), Broadway, and infringement litigation, supported by an in-house team handling royalty administration, song placement, and global collection. The portfolio emphasizes evergreen, time-tested copyrights with enduring appeal and consistent usage across income streams and geographies. In a major strategic development, Concord fully acquired the company's portfolio in late 2023 for US$468.8 million following shareholder approval on October 18, 2023, with 99% of votes in favor, transferring ownership of the 51 catalogs and over 150,000 songs to Concord while marking a successful exit for investors. This transaction followed the fund's strong 2022 performance, including 32% year-on-year revenue growth to US$32.4 million, 13% portfolio fair value increase, and full deployment of IPO proceeds raised in November 2020. Post-acquisition, Round Hill Music Royalty Fund Limited, previously managed by Round Hill Music LP (with offices in New York, Nashville, Los Angeles, and London), ceased active portfolio operations, though its ticker RHILF persists in over-the-counter trading.