Scooter Braun’s Supergroup

Justin Bieber manager Scooter Braun is assembling a management supergroup with major backing from Waddell & Reed Financial.


Sources reportedly close to the matter told the New York Times Braun is in talks with several potential partners including Drake and his management team, Shania Twain and Little Big Town manager Jason Owen, and Troy Carter, who recently split ways with Lady Gaga.

The $120 million project is expected to tap the resources of its members and backers for investment in areas typically outside the realm of artist managers, such as tech companies and publishing.

The structure of the team will stay loose, according to the Times, with all parties remaining relatively autonomous and deals covering only 50 percent of managers’ businesses.

Hollywood producer Thomas Tull and BetterCloud founder David Politis will serve as board members, while DreamWorks CEO Jeffrey Katzenberg is said to be an informal adviser to the venture, the paper said.