HarbourView Equity Partners continues to gobble up hip-hop and R&B music assets as it announces the acquisition of select recorded music and publishing assets of rap artist Wiz Khalifa. This deal comes on the heels of the news the firm acquired a stake in the artist royalty income stream of Nelly. Like the latter deal, terms of the Wiz deal were not disclosed, nor would a HarbourView spokesman provide details on whether the firm acquired the artist’s master recordings and publishing rights or just income streams from those assets.
According to the announcement, “assets in the deal include chart-topping titles ‘See You Again,’ ‘Black and Yellow’ and ‘The Thrill,’ and span Wiz’s prolific career across dozens of albums, mixtapes, and collaborations with some of the biggest names in entertainment.” Since his Show and Prove debut album in 2006, Khalifa’s music has generated 11.55 million album consumption units in the U.S, according to Luminate.
“Sherrese [Clarke Soares, founder and CEO of HarbourView] and HarbourView truly understand the value of music and artistry,” Khalifa said in a statement. “We are excited to partner with them as they continue to build a dynamic media company that is in line with the values and goals we all have here at Taylor Gang.”
HarbourView’s announcement stated, “Wiz maintains an active and far-reaching career across media and entertainment, as he parlayed his musical success into an entertainment empire that spans a variety of businesses and media genres, including ownership of independent record, management company and lifestyle brand – Taylor Gang.”
“Wiz Khalifa has already made a profound impact on culture as a musician, executive, media visionary and creative force,” Clarke Soares said in a statement. “We celebrate his talent and creativity and are thrilled to welcome him and Taylor Gang to the HarbourView family today.”
HarbourView describes itself as a “multi-strategy, global investment firm focused on investment opportunities in the entertainment and media space” and says its asset portfolio covers both master recordings and publishing income streams and includes over 20,000 song titles, representing numerous genres. Beyond its music asset investments, press reports say a HarbourView-led consortium is among bidders competing to buy a majority stake in BET Media Group Paramount global.
