New fund to co-finance studio pictures is partnering with Toho-Towa, Kadokawa and RGM.
Winchester Capital Management has announced a new $250m fund, Hemisphere Media Capital, which is backed by institutional investors and new international strategic partners.
Winchester founders Jean-Luc De Fanti and Jeff Sagansky said the fund’s first investment will be a new venture called Hemisphere Motion Picture Partners.
That outfit will be aimed at co-financing studio pictures. It is a joint venture between Hemisphere Media Capital, Toho-Towa Company Ltd., Kadokawa Pictures of Japan and RGM Media Ltd. of Singapore.
Studio partners will handle distribution in all domestic and international territories except Japan, where Toho-Towa and Kadokawa will handle distribution.
The fund is expected to offer financing of about $400 million in 8 to 10 pictures over a four-year investment period.
De Fanti will serve as Managing Partner of the funds, and Sagansky will serve as Chairman of the Supervisory Board. Winchester Principal Eli Baker has been made a Partner in Hemisphere Media Capital. The new venture was structured and will be represented by Bryan Wolf of Ziffren, Brittenham.
The first films from the venture will be announced soon.
Hemisphere’s Jean-Luc De Fanti said: “The Hemisphere fund represents a new business approach in film financing. The traditional independent film finance model is under strain. However, global audiences and therefore distributors remain hungry for mainstream Hollywood fare. In a world of dwindling capital availability, Hemisphere represents the template for a new approach, where films with global appeal are financed with a partnership of major studios, key strategic distributors, and financiers.”
Hiro Matsuoka, President of Toho-Towa Company added: “We are genuinely thrilled to take a part in an extremely exciting new venture with Jean-Luc and his team at Hemisphere. As a strategic distributor in Japan, we will provide our utmost effort to contribute to the success of the films we will distribute, which will ultimately enhance our financial success as an investor.”
Winchester’s previous investments include The Men Who Stare At Goats and The Private Lives of Pippa.