Wiz Khalifa & Mac Miller’s Former Label Lands $150M Financing Deal

Rostrum Pacific secured a $150 million financing deal from New York-based Crayhill Capital Management to fuel its catalog-acquisition ambitions.

The parent company of indie powerhouse Rostrum Records announced the partnership Thursday, marking a major expansion of its strategy to become “the preeminent independent music company.”

The financing comes from Crayhill Capital Management, a private credit specialist managing $2.9 billion in assets. Rostrum Pacific CEO Benjy Grinberg plans to use the funds to pursue catalog opportunities “of any scale” and integrate them into the company’s established ecosystem.

Rostrum Records built its reputation by discovering and developing breakthrough Hip-Hop talent in Pittsburgh. Grinberg founded the label in 2003 and quickly established it as a launching pad for future superstars.

The label signed Mac Miller in 2010 when he was just 18 years old, helping transform the young Pittsburgh rapper into a chart-topping artist whose debut album Blue Slide Park became the first independently distributed album to reach number one on the Billboard 200 since 1995.

Wiz Khalifa became another Rostrum success story after joining the label in 2007. His breakthrough single “Black and Yellow” became a Pittsburgh anthem and launched him to mainstream stardom. Both artists helped establish Rostrum’s reputation for identifying raw talent and developing it into commercial success.

The label expanded beyond its Pittsburgh roots over the years, eventually consolidating multiple businesses under the Rostrum Pacific umbrella in 2023. The company now operates Rostrum Records, Fat Beats, Cantora Records and digital distribution platform SpaceHeater.

SpaceHeater launched last year as an AI-powered music distribution and analytics platform. The technology offers “unmatched transparency and accuracy” for tracking how artists’ music gets used to train AI models and determining fair compensation for AI-generated outputs.

“Securing this funding reflects confidence in our value-creation strategy – one that leverages strategic partnerships and collaborative frameworks to drive high-value returns,” said Scott Margolin, Rostrum’s Chief Financial Officer, who led negotiations with Crayhill.

“With this backing, we’re expanding our reach and deepening our commitment to ensure that music under our care gets heard,” Margolin added. “We’re focused on catalog we can actively grow – whether it’s assets we acquire or the catalog we’ve been building for more than 20 years.”

Jihane Hassad, Director of TMT Investment Group at Crayhill, praised Rostrum’s “compelling in-house model that drives value creation and strategic growth.” Crayhill has invested over $500 million across its Technology, Media & Telecom strategy, including investments in music, film and TV libraries.

The deal positions Rostrum Pacific to compete in the increasingly competitive music catalog acquisition market. Major labels and investment firms have poured billions into acquiring music rights as streaming revenues continue growing globally.

Rostrum’s catalog, previously distributed by ADA, is now available exclusively through SpaceHeater. The December 11 announcement signals the company’s aggressive push to expand its music portfolio and establish itself as a major independent player in the evolving music industry landscape.

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