International Literary Properties, an estate management firm formed late last year with headquarters in London and New York, has acquired 12 literary estates, including those of Evelyn Waugh and Georges Simenon.
The new firm is focused solely on literary estates, seeking to both purchase and manage them. In the U.K., ILP is overseen by CEO Hilary Strong, who formerly ran the Agatha Christie Estate, and director Bob Benton, who previously held an executive role at the financial firm Canaccord Adams. In New York, Scott Hoffman, a co-founder of a New York City-based literary management firm, is global CEO, and Ted Green, former founder and president of Sony Wonder, is executive chairman.
In a release from ILP, the deal for the estates was cited as an eight-figure one. The portfolio of estates—in addition to the aforementioned two, it includes those of Eric Ambler, Margery Allingham, Edmund Crispin, Dennis Wheatley, Robert Bolt, Richard Hull, George Bellairs, Nicolas Freeling, John Creasey, and Michael Innes—was acquired from the U.K.-based literary agency Peters, Fraser + Dunlop. Through the deal, Peters, Fraser + Dunlop will continue to represent the portfolio.
Elaborating on its model, ILP said that it seeks to "acquire the rights in literary estates from those who have inherited them, or from living authors seeking financial certainty from an experienced and engaged buyer." It added that it will "proactively manage the estates it buys or buys into, working with agents to support their exploitation across all media platforms."
Strong, in the release about the acquisition, said it marked "a very important step for us in building the business." Hoffman added: "When we launched ILP, it was our vision to build a portfolio of some of the world’s most important and iconic literary works with an eye toward preserving their creators’ legacies and ensuring they would bring enjoyment to readers for decades to come. This acquisition is a major step toward that goal."
Correction: An earlier version of this story referred to ILP as a literary agency; it is an estate management firm. Additionally, Scott Hoffman is a current co-founder of a New York-based literary management firm, not a former one, and his title at ILP is global CEO.