‘Despacito’ Songwriter Luis Fonsi Sells Catalog to HarborView

variety.com:

Jem Aswad Senior Music EditorLuis Fonsi, co-writer and singer of the massive global hit “Despacito” and many others, has sold his entire publishing catalog to HarbourView Equity Partners, the global alternative asset management company founded by Sherrese Clarke Soares.Terms of the deal, which an announcement says was negotiated and closed in two weeks, were not disclosed.

Billboard reports that the deal includes both the songwriter and publisher share on all songs Fonsi wrote or co-wrote; Sony Music Publishing will continue to administer his catalog.“We are extremely excited to acquire the chart-topping, multi-platinum selling catalog of world renowned artist Luis Fonsi,” said Clarke Soares. “This remarkable acquisition grounds us firmly in our mission to support creators and maximize value for all and is a fantastic addition to our existing portfolio of iconic intellectual property.” Puerto Rico-born Fonsi has been one of the most successful Latin artists of the past 25 years, since the release of his 1998 debut album “Comenzaré.”He has won five Latin Grammy Awards, 12 Latin Billboard Awards, 17 Premios Juventud Awards, two American Music Awards, and has received seven Guinness World Records titles for “Despacito,” which was co-written with Erika Ender and Daddy Yankee and became an even bigger hit when Justin Bieber appeared on a remix — that version of the song topped the Billboard Hot 100 for 16 weeks in 2019, tying the record set by Mariah Carey and Boyz II Men “One Fine Day.”Fonsi’s ninth and most recent album “Vida,” debuted at No.

1 on Billboard’s Top Latin Albums chart in 2019.Launched last fall, HarbourView is focused on investment opportunities in the media and entertainment space.