Show Notes
I sat down with Primary Wave CEO Larry at the Trapital Summit.
When Larry started Primary Wave in 2006, the company had roughly $60 million to invest. Twenty years later, Primary Wave raised a record $2.2 billion fund dedicated. It has partnered with the estates and catalogs of Whitney Houston, Prince, Bob Marley, James Brown, Luther Vandross, and more.Larry and I talked about how Primary Wave evaluates music rights, recent acquisitions, the rise of capital in the space, the criticism that the firm has given, and more.
CHAPTERS
07:53 What makes a music catalog valuable11:38 Active vs. passive management12:16 Whitney Houston, Prince, and other estates16:36 Why Primary Wave acquired Kobalt23:09 The future of music rights valuations
This conversation was recorded live at Trapital Summit 2026 in Los Angeles.
Listen here: Spotify | Apple Podcasts | YouTube | Overcast
Links mentioned:
Primary Wave Music
Primary Wave’s acquisition of Kobalt
Primary Wave’s $2.2 billion Music IP Fund IV
Trapital Summit 2026
Why Investors Are Looking Beyond Iconic Music Catalogs — Trapital’s conversation with Flexpoint Ford’s Mike Morris
Presented by Chartmetric
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