The publishing giant called it "the largest dedicated closed-end music royalties fund raised to date" in a press release. Courtesy Image Trending on Billboard Primary Wave and Brookfield Asset Management Ltd. announced on Wednesday (April 29) the closure of its IP Fund 4, with total commitments of $2.225 billion. Primary Wave exceeded its initial target of $1.5 billion, as well as its cap of $2 billion, with a release claiming it marks “the largest closed-end music royalties fund raised to date.” The fund features an investor base that includes insurance companies, pension funds, endowments and large family offices. Related “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,” Primary Wave CEO Larry Mestel said in a statement.…