Nelly has sold 50 percent of his recording catalog to HarbourView Equity Partners for a reported $50 million.
HarbourView Equity Partners, the global alternative asset management company founded by Sherrese Clarke Soares, announced that it has agreed to partner with and purchase select recorded assets of the multi-platinum-selling, Grammy-winning music artist.
The deal includes some of Nelly’s most iconic tracks such as “Ride Wit Me,” “Dilemma” featuring Kelly Rowland, and smash hit “Hot in Herre. “Hot in Herre” and “Dilemma” notably held the No. 1 spot on the Billboard Hot 100 for seven and ten weeks respectively.
Nelly commented on the new venture saying, “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.”
Sherrese Clarke Soares said, “This 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.”
Although HarbourView didn’t disclose the terms of the deal, TMZ reported that the deal was for $50 million and covered half of Nelly’s recorded-music assets.
(Photo: Joshua Sobel)
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