UK-based film financier and production company Premiere Picture said that it has received an investment (of an undisclosed amount) from an offshore private equity fund and plans to now extend its operations.

Premiere plans to expand its sales and production staff and open a new London office on the back of the new investment.

Premiere was founded in 2002 and its Sovereign schme backed a number of films including Deco Entertainment's Gospel Hill starring Samuel L Jackson.

As part of the investment deal, the new group holding company Premiere Capital has been set up, and all companies including Great British Films will operate under the Premiere Picture banner.

Premiere Picture's COO Adam Betteridge said: 'This injection of capital is a significant development for Premiere, which allows us to build rapidly on the unique market position we occupy with Sovereign, one of the few film finance products left standing after UK Government announcements earlier this year. We have a strong slate of films going into production later this year, and our 2006/07 slate is already generating significant distribution income for our traders.'