Weinsteins investing in Asian films
EmptySetting their sights on Asia, Bob and Harvey Weinstein are setting up a $285 million fund, with the help of Goldman Sachs, to invest in movies with Asian themes and elements (HR 4/27).
The fund will be used to finance the production, acquisition and marketing of about 31 Asian films to be distributed by the Weinstein Co. over six years. The offering summary said the target is 21 theatrically released films and 10 direct-to-video titles.
The fund is to be capitalized with $200 million of senior debt, $45 million of mezzanine debt and $40 million of equity, including a $15 million contribution from the Weinstein Co. and $25 million from third-party investors.
The movies will have strong Asian themes, use Asian talent and be produced or filmed in Asia.