Overbrook Entertainment partners James Lassiter, Ken Stovitz, Jada Pinkett Smith and Will Smith have formed a joint venture with Shawn Carter, aka rapper Jay-Z.

The partners will develop and produce projects including a reimagining of the Broadway musical Annie, which has been set up at Sony as a vehicle for the Smiths’ daughter Willow. Overbrook and Carter will produce.

“The time is right to bring back Annie to the big screen,” Columbia Pictures president Doug Belgrad said. “Of course, we’re true believers in Willow’s talent and believe she will be perfect in this role.”

“We are excited to partner together to develop and produce a wide variety of films with our longtime friend Jay-Z with whom we share a common global vision, both commercially and philosophically, and look forward to collaborating once again with the incredibly talented executives at Sony,” Overbrook co-founder Lassiter said.

Overbrook credits include Ali, Hitch, Pursuit Of Happyness, I Am Legend, Hancock, Secret Lives Of Bees, and most recently The Karate Kid.