The joint venture from Minneapolis-based private investment film EBF & Associates and Kevin Frakes’ PalmStar Media Capital’s strategic partnership has closed on a structured facility for some Exclusive films, the first of which is the 2013 Formula One release Rush (director Ron Howard pictured in pre-production.)

Merced partners will look to announce further investments prior to the AFM as it bulks up the portfolio. Raj Singh, Stuart Brown and Mike Sullivan of EBF & Associates are involved with Merced’s daily operations.

The company’s representatives emerged in Cannes and by Toronto had taken positions on Every Secret Thing to star Diane Lane and Elizabeth Banks, Chained to be directed by and star Ryan Phillippe and Careful What You Wish For to star Isabel Lucas.

The venture will execute various types of investment, ranging from full financing to senior and mezzanine and preferred equity. There is no p&a facility at this point.

Privately held investment advisor EBF & Associates launched in 1988 and according to a press release currently has $1.3bn in capital under management.

Kevin Frakes and Peggy Taylor own and run PalmStar Media Capital, a Los Angeles-based company focused on film investments and specialty financial services. Production arm PalmStar Entertainment’s credits include Celeste And Jesse Forever and Night Train To Lisbon.