The company also appointed Victor Mijares as its first vp of Latin music.
The fintech platform provides indie artists financing in exchange for stakes in their masters, and it's the latest to capitalize on a flood of private equity funding.
The deal includes part of the reggaetón superstar's rights to "Gasolina," "Con Calma" and his rights as a featured artist on "Despacito."
The iconic singer-songwriter has a friend in the Carlyle-backed rights company.
Sources previously told Billboard that the band was seeking $1.2 billion for the assets.
The late producer's catalog includes megahits "Te Boté" and "La Jeepeta."
The Nasdaq-traded company, which went public through a SPAC merger in 2021, plans to raise $100 million in a secondary offering.
Since its 2021 launch, the Korean firm has almost exclusively invested in Asian catalogs.
Private equity isn’t wrecking the industry. But investors own rights to music by Stevie, Whitney, and now Cyndi Lauper. How much will that change things?
Also this week: Live Nation and Oak View Group partner on a historic Nigeria arena, Warner Music Group expands its partnership with an India-based label and more.
