Singer follows other artists, selling to Blackstone-backed fund Hipgnosis Songs Capital
Justin Timberlake has sold his song catalogue to Hipgnosis Song Management and a fund backed by the private equity firm Blackstone in a deal thought to be worth just over $100m.
Hipgnosis offers investors the chance to make money from the royalties of popular songs by artists from Barry Manilow to Beyoncé. It teamed up with Blackstone last year to launch a private vehicle called Hipgnosis Songs Capital. With $1bn of initial funding from Blackstone, it was set up to acquire music rights and manage catalogues. The private equity firm also took a stake in Hipgnosis.
The deal with Timberlake gives Hipgnosis Songs Capital full control and ownership over his interest in 200 songs he has written or co-written during his career with the boyband ‘NSync and as a solo artist. He first came to prominence in 1995 as one of the two lead singers in ‘NSync, whose albums have sold 70m copies worldwide. As a solo artist, he has eclipsed those sales, with 88m copies of his albums sold globally.
Read more: The Guardian
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.