Hollywood Boulevard Jammed With HF Managers

Hedge funds are stepping up their involvement in the film industry, Variety reported last week. A group called Relativity Media has raised $600 million from a group of funds to back 18 pictures at Sony and Universal. This is the first deal of its kind to allow investors to get exposure to two studios at once. Deutsche Bank underwrote the senior debt in the deal. Other studios, including 20th Century Fox, Warner Bros., Walt Disney and Paramount, have all recently done deals with hedge funds. Not surprisingly, the investments are typically spread over multiple films to achieve a little bit of ye olde diversification.
Funds Pop for Pix [Variety]

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