PUBCOS GET HIP AS SUITORS VIE FOR ADMIN DEAL

Word has it that the Blackstone/Hipgnosis team—led by Qasim Abbas, Henry Tan, Ben Katovsky, Dan Pounder and Jon Baker— is considering offers for an admin deal from all of the big pubcos. Hipgnosis administration is currently shared by the three majors, Peer, Kobalt, Concord and Downtown. This will be a big differentiator in the market-share wars. The team is not said to be looking for a big advance but instead seeking a low-fee deal, ideally under 5%. Which pubbery will secure this plum? Stand by.