By Michael Susin
Hipgnosis Songs Fund said it has completed the sale of around 20,000 non-core songs for $23.1 million.
The London-listed music investor said Monday that proceeds will be used to pay down drawings.
It added that the songs were sold at a 14.2% discount to its valuation.
In the same statement, Hipgnosis said it has appointed a lead adviser to conduct due diligence on its assets as part of a strategic review.
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