AFM 2012: Banker Michael Mendelsohn Sets $25 Million Financing for Stealth Media Group
The money is senior debt for production and gap financing on four movies, including "Marble City," starring Nicolas Cage, and "SAS: The Originals," being touted as a British "Expendables."
Michael Mendelsohn’s Union Patriot Capital and Patriot Pictures has set up $25 million financing for four movies with the British company Stealth Media Group, it was announced Monday at the American Film Market.
Mendelsohn, a veteran show business banker, will provide both senior debt and gap production financing on the movies, which include the $18 million action picture Marble City starring Nicolas Cage, which has been on sale at the market.
Other pictures in the deal include SAS: The Originals, about the creation of the British special forces, which Stealth has been touting as a British Expendables; and The Fixer, about a real-life British gangster.
Stealth does international film and TV sales, as well as produce and distribute movies in the U.S. and U.K. It was founded by Sean O’Kelly, Michael Cowan and Jason Pipette.
Union Patriot Capital is said to be a $250 million fund that Mendelsohn manages for private equity investors, banks and financial institutions. Patriot Pictures is Mendelsohn’s production company.
In the announcement, the Stealth founders recalled that their first meeting about funding was 15 years ago with Mendelsohn when he was heading the media and entertainment-financing unit at BNP Paribas, the big French bank.
Other movies Mendelsohn has helped finance over the years include Air Force One, The Matrix, Reservoir Dog and True Romance.