Aramid Capital Partners (ACP) is behind the launch of PA CO, the first fund in Germany specialised in P&A financing for independent films.

The Munich-based $ 12.5m (Euros 10m) fund will be headed by PA CO director and distribution veteran Manfred Wenzel who previously held senior positions at Kinowelt and VCL Film + Medien.

The fund will initially target German independent distributors and independent producers, TV operators and even major studios have already approached the new financing vehicle.

Commenting on the new initiative, Simon Fawcett, CEO of Aramid Capital Partners said: 'This fund is exactly the kind of project that Aramid seeks to support. There is a distinct lack of funding for German independent film distributors, who need capital to market their films and make the releases successful. This fund will provide the necessary niche financing required.'

PA CO, the fund's backer Aramid Entertainment and advisor Future Capital Partners plan to double or even triple the size of the fund after six months of operation.

Aramid Capital Partners currently manages two entertainment funds specialising in providing finance for the film and television industries, investing in such projects as Bob Weide's How To Lose Friends and Alienate People and Oliver Stone's George W. Bush biopic W.

ACP comprises three of the film and television industry's key financiers: Future Films, Screen Capital International and Stonehenge Capital who, between them, have managed $10bn (Euros 8bn) of film financing over the last decade.