Following the success of its first entertainment fund (Aramid I), film financier Aramid Capital Partners has launched a second fund.

The new fund was created to meet the growing demand for investment opportunities, following PricewaterhouseCooper's forecast of 7.3% growth in the global entertainment industry in 2009.

Aramid I has raised $300m since its launch in October 2006 and provided production debt funding for over 40 projects, including recent releases W. and How To Lose Friends And Alienate People. The company claims it has outperformed other funds such as Lehman Aggregate Bond Index and Credit Suisse Tremont Hedge Fund Index,

Following this success, Aramid II is hoping to raise $250m, and is targeting net returns of 12%-15%.

The second fund will mainly concentrate on providing debt finance opportunities in areas such as: media library asset backed transactions; receivable aggregations; and medium to long liquidity financing loans to producers, distributors and libraries of film.

However, it will also cover TV, music and video games content.

Simon Fawcett, Chief Executive of Aramid Capital Partners confirmed, 'The entertainment industry continues to offer strong investment opportunities and our second fund will allow Aramid to take advantage of additional investment opportunities beyond the scope of the first fund, whilst continuing to generate significant positive returns uncorrelated to other markets even during a difficult economic environment.'