Toronto 2012: Corsan Sets Up New Production Fund
The third-party investment outfit from the Belgium finance group will put up $100 million a year to back up to five films annually.
TORONTO – Belgium finance and production group Corsan is launching a new production fund which will put up $100 million a year to invest in up to five feature films annually.
The new fund will invest in features that have been developed and will be produced out-of-house. Corsan CEO Paul Breuhls said the new fund would be "open to investing in film projects from international filmmakers and producers" but all projects would have to be “produced in the English language and with a global ambition for distribution.”
Corsan already has its own active in-house production operation, which has an impressive upcoming slate, including Paul Haggis’ Third Person starring Liam Neeson, Olivia Wilde, Mila Kunis and James Franco; Mark Steven Johnson’s Killing Season with Robert De Niro and John Travolta; and Roland Joffe’s Singularity starring Josh Hartnett.
“Setting up our own production financing has enabled Corsan to develop, finance and greenlight two to three films a year in-house without being dependent on third party funding,” said Breuhls, explaining the reasons behind the new third-person production fund. “However, we have grown the company to the point that we now want to branch out in setting up new types of funding partnerships."
In addition to its production and financing arms, Corsan also operates a world sales company, Corsan World Sales, which is in Toronto shilling international rights to Killing Season, Third Person and Singularity. Corsan World Sales President Pascal Borno closed mulitple deals for Killing Season ahead of the Toronto market, including sales to Splendid for Germany, Take One for Scandinavian rights, WS FIlms for Canada and Top Film for CIS. Seperately, Nu Image has closed distribution deals on the title with Lionsgate (UK), Metropolitan (France), Roadshow (Australia), Sabido Productions (South Africa) and Showgate (Japan).