Richard Gere is going from hedge fund manager to homeless person as it emerged that his passion project Time Out Of Mind is taking shape quickly. QED International represents international sales and will introduce at the EFM next week.

Gere will produce and Oren Moverman of The Messenger and Rampart fame will direct from his adaptation of a story by Jeffrey Caine.

Caroline Kaplan and Lawrence Inglee are also producing. WME Global and Paradigm jointly represents US rights.

Time Out Of Mind tells of a New York man who enters a shelter when he runs out of housing options, then struggles to put the pieces of his life back together and fix a troubled relationship with his estranged daughter. Gere recently played a billionaire in Arbitrage.

Time Out Of Mind has obsessed me for many years now,” said Gere. “It is a profoundly human story that we are determined to make into a powerful film that speaks not only to our time, but also hopefully to all cultures.

“I am proud and delighted to be collaborating with the brilliant writer-director Oren Moverman in telling this emotional and uncompromising story of loss, connection and the possibility of redemption. “
“Richard is an actor I’ve admired for a long time and I am honoured to be working with him on a movie that doesn’t pussyfoot around social issues while telling a very accessible, human tale about a dispossessed man who is also a father, a lover, a friend and a statistic that deserves our attention,” said Moverman.