Justin Timberlake has sold his song catalogue to Hipgnosis Song Management and a fund backed by the private equity firm Blackstone in a deal thought to be worth just over $100m (£75.5m).
Hipgnosis offers investors the chance to make money from the royalties of popular songs by artists from Barry Manilow to Beyoncé. It teamed up with Blackstone last year to launch a private vehicle called Hipgnosis Songs Capital. With $1bn of initial funding from Blackstone, it was set up to acquire music rights and manage catalogues. The private equity firm also took a stake in Hipgnosis.
