(CNN) --
Pop star Justin Bieber has sold the publishing rights and royalties to his catalog of songs to Hipgnosis Songs Capital, a partnership between Hipgnosis Songs Capital and funds managed by the Blackstone group, the company announced Tuesday.
The deal, valued at $200 million, according to Rolling Stone magazine, makes it the biggest sale of any artist of Bieber's generation.
"Justin is truly a once-in-a-generation artist and that is reflected and recognized by the magnitude of this deal," Scooter Braun, Bieber's longtime manager, said in a statement.
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“For 15 years I have been grateful to witness this journey and today I am happy for everyone involved.
Justin's greatness is just beginning, he added.
CNN has reached out to Bieber's publicist for further comment.
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