Catalog cover

Luis Fonsi sells his catalog of songs to HarbourView – Billboard

HarbourView Equity Partners has acquired the entire publishing catalog of Latin music superstar Luis Fonsi, the lead artist behind single “Despacito,” which he originally co-wrote with Erika Ender and Daddy Yankee, and performed with the latter in its first iteration.

Financial terms of the deal were not disclosed, but the pact includes both songwriter’s and publisher’s share of any songs Fonsi has written or co-written. Sony Music Publishing, with whom Fonsi has long been signed as a songwriter, will continue to administer his catalog.

This is the first publicly announced acquisition by HarbourView Equity Partners, the company created 4 months ago by Sherrese Clarke Soares. The company is already living up to its tagline as an alternative asset management firm, investing in the Latin music market instead of the rock catalogs that most private equity investors come to the market from. musical assets seem to hunt.

HarbourView says it is looking for investment opportunities in the media and entertainment space and, in addition to music assets, the company says it has expertise in film, television and sports. Additionally, the company views Apollo Global Management as a strategic relationship with that company’s clients and the funds serving as the lead investor in HarbourView.

“We are extremely pleased to acquire the multi-platinum selling catalog of world-renowned artist Luis Fonsi,” Clarke Soares, who previously founded Tempo Music and previously ran the structured entertainment, media and sports at Morgan Stanley. , said in a statement. “This remarkable acquisition firmly anchors us in our mission to support creators and maximize value for all and is a fantastic addition to our existing portfolio of iconic intellectual property.”

Born in Puerto Rico and raised in Orlando, the bilingual Fonsi has released 10 albums to date since releasing his first album. Comenzare in 1998 on Universal Music Latino. Fonsi did not write songs overall, but gradually emerged as a songwriter over the years, eventually writing or co-writing his greatest hits. They include “Aquí Estoy Yo”, which spent two weeks at No. 1 on the Billboard Hot Latin Songs chart in 2009, and “No Me Doy Por Vencido”, which spent 19 weeks at No. 1 in 2008.

But his biggest hit by far is “Despacito”, originally credited to him, Ender and Daddy Yankee. The track also reached No. 1 on the Hot Latin Songs chart in 2017. But its remix, featuring Justin Bieber, generated the most activity, topping the Hot 100 for 16 weeks and tying the record set by Mariah Carey. and Boyz II. Men “One fine day”.

In total, this song has generated almost 16 million song consumption units since its release. Depending on the version played, Fonsi owns between 22.5% of the song and 37.5% of the song’s edition.

Fonsi’s latest album Vidagenerated 1.94 million album consumer units in the United States, according to MRC Data.

For the deal, Alter, Kendrick and Baron served as legal counsel to HarbourView in the transaction, while Fonsi, which is managed by Tony Mojenawas represented by Angie Martinez, Esq. and Denny Marte at MPA Advisors, LLC.

Leila Cobo contributed to this article.