Nelly Furtado, the Grammy award-winning singer, is to turn out to be the newest global song megastar to harvest wealthy rewards from her catalogue by means of hanging a handle a undertaking sponsored by means of Blackstone, the non-public fairness large.
Sky Information has learnt that Ms Furtado, a Canadian whose hits come with I am Like a Hen, is on the point of signing an settlement to promote her choice of songs to Hipgnosis Track Control (HSM).
The price of the deal was once unclear on Thursday, however analysts speculated that it might be value within the area of $50m.
It’s going to be the second one acquisition struck by means of HSM since Blackstone introduced in November that it was once going into partnership with Merck Mercuriadis, founding father of the London-listed Hipgnosis Songs Fund.
The primary deal was once agreed closing month with the property of the overdue Leonard Cohen.
HSM’s settlement with Ms Furtado would be the newest in a snow fall of song rights acquisitions, with monetary buyers an increasing number of drawn to the strong long-term returns equipped by means of song royalties.
The explosion in call for for streaming products and services has bolstered hobby in paying attention to older hit songs.
In fresh months the likes of Pimco, the arena’s largest bond fund, and KKR, Blackstone’s non-public fairness rival, have waded into the field with new ventures.
One of the vital automobiles sponsored by means of the ones buyers are anticipated to hunt public listings sooner or later.
A spokesman for HSM declined to remark.