According to film bible Variety, hedge funds are finding the film industry offers great opportunities for impressive gains.
What don't hedge funds invest in these days? According to film bible Variety, hedge funds are finding the film industry offers great opportunities for impressive gains.
British company Number 9 Films has secured financing for How to Lose Friends and Alienate People, the satirical look at journo Toby Young's five-year stint at Vanity Fair, Variety reported.
"UK law firm Davenport Lyons brokered the deal with majority funder Aramid Entertainment, which is backed by hedge fund coin," it said.
Davenport Lyons partner Sam Tatton-Brown said: "Hedge funds are becoming increasingly interested in the film industry, where there can often be great opportunities for impressive gains." Davenport Lyons previously brokered funding deals with the Royal Bank of Scotland on Ken Loach's The Wind that Shakes the Barley and Alliance and Leicester for James Bond blockbuster Casino Royale.
Two years ago, on the other side of the ocean, Disney joined with the Kingdom Films partnership to finance 40 per cent of production and distribution costs for about 32 films over four years. Kingdom Films was set up by Credit Suisse First Boston, whose DLJ Investment Partners II, a $1.6 billion investment fund, was the lead investor in Kingdom Films.
Credit Suisse raised $135 million in equity and $370 million in debt from hedge funds, insurance companies and mezzanine funds.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
British Prime Minister Gordon Brown last month uttered the 'R' word. Brown told parliament Britain will "most likely" head towards a recession. A view also shared by the country's central bank chief. ... read more »
Home delivered!
Daily news, weekday mornings
Get the day's news delivered direct to your inbox. Register here (it's free!) and choose 'yes' to receive the InvestorDaily newsletter.
Catholics revamp fixed interest »
Industry superannuation fund the Catholic Superannuation and Retirement Fund (CSRF) has revamped its fixed income portfolio.
Mercer backs alternatives »
Mercer has awarded $34.15 million in mandates to Tactical Global Management (TGM) and Lazard Asset Management to invest in alternative assets.
On the anniversary of the infamous Gunpowder Plot and also marks the occasion the supposedly most powerful nation in the world has elected its first black president. ... read more »
