John Legend sells his music catalog to KKR and BMG

John Legend is the latest pop star to cash in on the sale of publishing rights to his music catalog.

The R&B singer-songwriter reached a deal with global investment firm KKR & Co. and music company BMG to sell both copyrights and the rights to receive royalties from songs he wrote beginning in 2004.

Terms of the deal were not disclosed. Filings indicate that the agreement was consummated in September.

DL Music IP LP, which is affiliated with KKR Credit Advisors LLC, and BMG Rights Management will each own a 50 percent stake in the catalog, according to Bloomberg.

KKR and BMG partnered up last month to acquire the music rights to rock group ZZ Top.

Legend’s business relationship with BMG began in 2010 when the company acquired his music publisher, Cherry Lane Music Publishing Co.

News of Legend’s sale of his catalog comes just a month after Bruce Springsteen sold his music rights to Sony Music Entertainment for a whopping $550 million.

The deal surpassed Bob Dylan’s blockbuster $400 million sale of the rights to his work to Universal Music Group.