Primary Wave Music (“Primary Wave” or the “Firm”), a leading independent publisher of iconic and legendary music in the world and a strategic partner of Brookfield, announced today the final closing of Primary Wave Music IP Fund 4 (“the Fund”), with total commitments of $2.225 billion.
The Fund significantly exceeded its original target of $1.5 billion as well as its hard cap of $2 billion, making it the largest dedicated closed-end music royalties fund raised to date in the industry. Backed by a diverse global investor base, spanning insurance companies, pension funds, endowments, and large family offices, the Fund’s close marks the fourth consecutive oversubscribed Primary Wave Fund. This reflects the deepening institutional recognition of music intellectual property (IP) as a differentiated and scalable asset class and specifically Primary Wave’s ability to partner with unique artists and enhance the value of those rights.
Primary Wave Music IP Fund 4 is the latest vintage of the Firm’s flagship strategy focused on acquiring high-quality music and actively enhancing its value through Primary Wave’s integrated platform. This includes marketing and branding, sync licensing, digital distribution, content development, and immersive experience, with the objective of generating consistent and long-term capital appreciation.
Larry Mestel, CEO of Primary Wave Music said, “This fundraise validates both the platform we have built at Primary Wave and our conviction that an active, aggressive hands-on approach to marketing music is what drives superior long-term returns for our investors and growth in value to our artists.”
Craig Noble, CEO of Brookfield’s Credit business, said, “Primary Wave has built a category-defining platform in music IP, with a clear track record of sourcing, scaling, and enhancing high-quality assets. The success of this fundraise reflects both the strength of their strategy and the growing role of music royalties within institutional portfolios. We are excited about our long-term partnership with the company.”
Bill Cisneros, President of Primary Wave IP Investment Management adds, “We are thrilled with this exceptional result, and most importantly with the group of thought leading global institutional investors which has joined us in Fund 4.”
To date, Fund 4 has invested $700 million, to a diversified set of over 65 single-artist catalogs including The Notorious B.I.G., Village People, Neil Sedaka, Itzhak Perlman, Ric Ocasek, The Cars, Robert “Kool” Bell, Gilberto Gil, Thin Lizzy, Dave Brubeck, and others.
About Primary Wave Music
Primary Wave Music is the leading independent publisher of iconic and legendary music in the world. The company is home to some of the most iconic songwriters, artists, and record labels across the history of recorded music including Bob Marley, Prince, Stevie Nicks, Notorious B.I.G., James Brown, The Doors, Frankie Valli & the Four Seasons, Smokey Robinson, Whitney Houston, Ray Charles, Burt Bacharach, Harry Chapin, Neil Sedaka, Bing Crosby, Dave Brubeck, Gilberto Gil, Luther Vandross, Olivia Newton-John, Patti LaBelle, Isaac Hayes, Andre 3000, Ric Ocasek, The Cars, Eartha Kitt, Axl Rose, Steven Van Zandt, Aerosmith, Def Leppard, America, War, Teddy Pendergrass, Count Basie, Traveling Wilburys (Bob Dylan), Donny Hathaway, Joey Ramone, Scott Weiland (Stone Temple Pilots), Jerry Jeff Walker, Bob Burns (Lynyrd Skynyrd), Robert “Kool” Bell, George Brown (Kool & The Gang), Sly & The Family Stone, Phil Lynott (Thin Lizzy), Boston, Alice Cooper, Paul Anka, Boy George and Culture Club, Allee Willis, Paul Rodgers, Free, The Cranberries, Steve Cropper, Sarah McLachlan, Alice In Chains, Air Supply, Nuno Bettencourt (Extreme), Julian Casablancas (The Strokes), Huey Lewis and the News, Itzhak Perlman, PF Sloan, Glenn Gould, Gin Blossoms, Spin Doctors, Disturbed, George Merrill & Shannon Rubicam, Steve Porcaro, Styx, Keith, Forsey, Jeff Porcaro, Chuck Mangione, Pat Metheny, Chris Isaak, Sun Records, Times Music (subsidiary of the Times of India Group), Nas Nuvens Music Group, and many more. The songs represented by Primary Wave include over 1000 Top 10 singles, and over 400 #1 hits. Since its inception in 2006, Primary Wave Music has embraced an entrepreneurial spirit, offering, and executing proactive one-of-a-kind ideas, unique services, and marketing campaigns for our artists. Primary Wave has earned a stellar reputation for being forward thinking and re-introducing classic artists and their music into the modern marketplace as well as nurturing young talent to become legends themselves. This success is based upon our team of seasoned and creative executives collaboratively working together closely with our artists as partners. As a company, we strive for excellence in the pursuit of iconic artists and catalogs that not only reflect great artistry, but impact and influence culture.
