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Scooter Braun and Yael Cohen have split.
PEOPLE has learned Braun, who manages Justin Bieber and Ariana Grande among others, and businesswoman Cohen are separating after seven years of marriage, but there are still hopes that they may work it out.
"Their friendship is the best it's ever been but they're taking some time apart to sort things out," a source close to Braun and his wife tells PEOPLE.
"So many couples went through this during the pandemic. They love each other and just need some time apart and will hopefully bounce back for their kids," adds a second source.
News of their split was first reported on by Page Six.
The pair shares three children: sons Jagger, 6, and Levi, 4, as well as 2 ½-year-old daughter Hart.
Braun, 40, proposed to Cohen, who founded and serves as the CEO of the charity health organization F— Cancer, at his Los Angeles home in January 2014. They wed that July in Whistler, British Columbia, Canada.
Four days before news of their split, Braun shared an anniversary tribute to his wife on Instagram.
"If just for the kids you have given me everything. But thanks to you I have grown, I have been pushed to be the best version of myself and to continue growing and learning. That all happened because you came in to my life. 7 years. The adventure is just beginning. Thank you Yae. I love you. Happy anniversary," he wrote along with a black-and-white portrait from their wedding.
"A Team 4lyfe," Cohen added in the comments section.
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In March 2020, Braun raved about Cohen and spoke about his work-life balance on Ashley Graham's podcast Pretty Big Deal.
"I found that people who have a foundation of family — whether it be with the family they make with their friends, the family they start, or the family they already had — they're able to sustain a lot better because that's what really matters," the father of three said, later adding, "I don't think I actually figured it out until I met my wife Yael."
"There was my insecurities; I was having a lot of success and I was looking for what validated me. And then when I met her, I realized, between her and the kids, I don't need that validation anywhere anymore," Braun continued. "I can just do good work and I can try and be kind to people. Other people's issues are not my issue. I can only control my own actions. But she kind of gave me that comfort that I'm enough."
And in summer 2019, Cohen defended Braun after Taylor Swift slammed him for alleged "incessant, manipulative bullying" following his purchase of her musical catalog.
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