Australian producer Greg Coote has been appointed chairman and CEO of Dune Entertainment, the production company affiliated to multi-million dollar hedge fund Dune Capital Partners.

Dune Entertainment has committed to invest more than $500m in a slate of Fox films over the next three years.

'I am greatly looking forward to the prospect of helping Dune Entertainment create a successful production entity. Working in conjunction with Twentieth Century Fox gives us a unique opportunity both here and within the broader industry,' said Coote in Los Angeles.

'We're in every Fox film for the next three years, except for animation. That investment can vary up and down, but we're committed to every one of them. And on top of that we have the right to bring projects to Fox.'

Coote was managing director of Rupert Murdoch's television interests before moving to the US to head up international theatrical for Columbia Pictures.

He then became founding president and CEO of Village Roadshow Pictures in Los Angeles. Key achievements included forging a still existing production deal with Warner Bros. After giving the greenlight for The Matrix he led a management buy out of Village Roadshow's TV division and left the company to form US-based production company Coote Hayes Productions.

Coote continues to support Australian films: 'We are an investor in Australia , the Baz Lurhmann picture shooting now,' he said. Nicole Kidman and Hugh Jackman head the cast of the outback epic.

'I would invite anybody who wants to talk to us, or submit projects to us,' Coote added. 'If somebody says what sort of films are you looking for I just say I'm looking for Fox movies, they're going to be distributed by Fox, a joint venture between me and Fox, and if you think they can sit above a Fox logo, that's it. There's no budget cap - but they can't be too small.'