HarbourView Equity Partners, the asset-management company founded by Sherrese Clarke Soares, announced today it has agreed to partner with and purchase “select” recorded-music assets of Grammy-winning rapper-singer Nelly, a rep for the company confirms to Variety.
Further terms of the deal were not disclosed, although TMZ reported that the deal was for $50 million and covered half of Nelly’s recorded-music assets.
Nelly was represented by Steven Shapiro of Davis Shapiro Lewit & Grabel LLP.
The deal includes some of Nelly’s most iconic tracks such as “Ride Wit Me,” “Dilemma” featuring Kelly Rowland, and “Hot in Herre,” both of which topped the Billboard Hot 100 for multiple weeks.
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Nelly 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.”
Soares added, “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.”
Over the course of his two-decade-plus career, Nelly has collaborated with Janet Jackson, Nicki Minaj, Pharrell Williams, and Usher, and was among the first rappers to branchin into country. He has won three Grammy Awards and three American Music Awards. He recently released “Heartland,” his eighth studio and first fully country-inspired album, and performed at the country-themed Stagecoach festival in April.
In recent years HarbourView has acquired catalogs from artists including country stars Brad Paisley and Lady A as well as rockers Incubus.
