HarbourView Equity Partners has acquired “select recorded music assets” of Grammy Award-winning rapper, Nelly.
Financial terms of the deal were not disclosed in a press release sent to MBW, but TMZ reports that Nelly secured $50 million for 50% ownership of his entire catalog.
Founded by former Tempo Music CEO Sherrese Clarke Soares with backing from Apollo Global Management, HarbourView says that it owns a catalog of over 20,000 songs, encompassing both master recordings and publishing income streams.
This latest acquisition follows HarbourView’s recent purchase of SoundHouse Acquisitions LLC’s catalog for a reported $325 million.
HarbourView has been actively pursuing deals, including the acquisition of publishing catalogs from country music artists Lady A and Brad Paisley, as well as the publishing catalog of Latin music superstar Luis Fonsi.
The company has also secured Big Loud Mountain Music’s publisher share of select songs from the catalog of country music duo Florida Georgia Line and the music publishing catalog of Incubus.
The latest deal covers the purchase of some of Nelly’s well-known tracks including hits like Ride Wit Me, Dilemma featuring Kelly Rowland, and Hot in Herre.
“My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
Nelly
Nelly (born Cornell Iral Haynes Jr.), said: “As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry.
“My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”
Nelly’s career spans 20 years and has seen him work across music, film, and television. He has collaborated with superstars like Janet Jackson, Nicki Minaj, Pharrell Williams, and Usher.
He has earned three Grammy Awards, three American Music Awards, and seven Billboard Music Awards. Nelly continues to pursue an active and diverse career across various entertainment mediums.
Sherrese Clarke Soares said Nelly’s catalog “has made an incredible impact on generations of fans”.
“Works such as, ‘Hot in Herre’ and ‘Shake Ya Tailfeather’ defined an era of music of a unique blend of hip-hop, R&B, and country music that is undeniable. We are thrilled to add these influential pieces to our repertoire and work with the team to continue supporting the artistry within our ecosystem.”
Nelly ventured into country-inspired music with his eighth studio album, Heartland. The album debuted on the Billboard Top Country Albums chart.
Nelly was represented by Steven Shapiro of Davis Shapiro Lewit & Grabel LLP during the acquisition process.
Music Business Worldwide
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