Pras Michel Sells Stake in Fugees Library to Apollo-Backed Firm

Prakazrel “Pras” Michel, the hip-hop artist facing federal charges tied to Malaysia’s multibillion-dollar 1MDB fraud, agreed to sell a portion of his music catalog to an investment firm backed by Apollo Global Management Inc.

HarbourView Equity Partners bought Michel’s stake in the master recordings of the Fugees, the rap group he co-founded more than three decades ago, according to a commercial filing in Washington that doesn’t disclose how much Michel was paid. Attorneys for the performer and a HarbourView spokesman had no comment.

Apollo committed as much as $1 billion in funding to Newark, New Jersey-based HarbourView, which has ...