Keshet International Sets Up $55 Million Production Fund
The fund, which will bankroll TV and film projects, is backed by four of Israel's largest asset management companies.
Keshet International, the global production and distribution arm of Israeli mini-major Keshet Media, has set up a $55 million production fund to back film and high-end television.
The fund is backed by several of Israel’s largest holding and asset management companies, including Altshuler-Shaham, Phoenix Insurance, Arxcis Global Wealth Management and Halman Aldubi Investment House Ltd. Together, the companies have tens of billions of dollars under management in a series of investment portfolios, insurance, mutual and pension funds.
With the new capital, Keshet hopes to more quickly greenlight productions and boost output.
“We decided to launch this fund because we have seen heavy demand for more high-profile dramas across all key territories,” said Keshet International CEO Alon Shtruzman. “Through targeted investments like these, we will be able to bring more great stories to life and help them travel throughout the world.”
The fund was set up and incorporated by Keshet CFO Sigal Alboher and Viktor Vakrat, the group's head of business affairs, with the advice of the investment banking firm Rosario Capital.
Keshet, famous as the production company behind Israeli series Prisoners of War, on which Showtime's Homeland was based, has been rapidly expanding in recent years. On Monday, the company took a majority stake in Greenbird Media, a British-based group that holds stakes in more than a dozen TV production outfits, including Tuesday’s Child, the company behind ITV and Fox’s You’re Back in the Room; Crackit Productions, which makes nun-based reality series Bad Habits for Britain's Channel 5; and The Man in the High Castle co-producer Big Light Productions.