Jay-Z and Rihanna‘s business relationship is on the verge of entering its next phase, as Hov’s investment firm is reportedly set to acquire a sizable ownership stake in Rihanna’s Fenty Beauty brand.

According to Puck, sources close to the deal say Jay-Z’s MarcyPen Capital Partners is in the process of purchasing the 50% stake in Fenty Beauty currently held by LVMH. Terms of the potential deal, which could reportedly be finalized within weeks, are currently undisclosed.

MarcyPen has not yet responded to a request for comment.

LVMH partnered with Rihanna to help develop and create Fenty Beauty in 2016. The brand launched in 2017 alongside Kendo Brands, with Fenty Beauty becoming an instant success, reportedly grossing $100 million in sales in its first 100 days on the market.

However, the brand’s initial dominance has gradually waned, according to insiders, as competing brands have encroached on Fenty Beauty’s market share.

Industry insiders first reported that LVMH was looking to unload its stake in Fenty Beauty in October 2025, when the multinational conglomerate sought out investment bank Evercore to help facilitate a sale. At the time, Fenty Beauty was valued around $2.8 billion. According to Reuters, the brand is currently valued at $1 billion, with Fenty Beauty raking in approximately $450 million in net sales in 2024.

MarcyPen Capital Partners was co-founded by former Jay-Z, Jay Brown, D’Rita, and Robbie Robinson in 2025. The capital venture firm was created when Robinson’s Pendulum Holdings firm merged with Hov and Brown’s Marcy Venture Partners.

Marcy Venture Partners previously invested in Rihanna’s Savage X Fenty, adding the brand to its portfolio in 2021. MarcyPen Capital Partners co-founder Jay Brown has a deep history with Fenty Beauty, as he co-founded the brand and Savage X Fenty.