Former Pathé FD launches film hedge fund
Simon Fawcett, the former FD of film distributor Pathé, plans to launch a hedge fund that will invest in independent films
Investment in independent British film is set for a boost with the launch of
a hedge fund by Simon Fawcett, the former FD of
Pathé .
Fawcett, who is currently the chief executive of
Aramid
Capital Partners , hopes to raise £150m for the firm’s
entertainment fund, the
Sunday
Times reports.
Aramid was formed with three other film finance experts, namely Tim Levy of
the UK’s future films, David Molner from Los Angeles firm Screen Capital and
Thomas Adamek from Stonehenge Capital.
Aramid plans to offer ‘bridge finance’ to UK producers. Under a new tax
scheme to promote film-making in Britain producers can gain tax credits
according to the portion of the film that is produced in the UK.
It does take time to receive the benefit in cash, however, which is where
Aramid intends to come in and provide finance to bridge the gap.
Further reading:
Pinewood chief sees growth due to new film tax
breaks
Profile: Fiona Hotston Moore, of Moores Rowland
Draft film tax relief regulations published