Paramount Vantage has set up a $150m film financing fund with Morgan Stanley called Marathon Funding, which will invest in the production of at least 15 films.

The arrangement covers Babel, as well as the 10 films scheduled to open through Vantage this year. Titles include Paul Thomas Anderson's oil prospector drama There Will Be Blood and Michael Winterbottom's A Mighty Heart, about the murdered Wall Street Journal reporter Daniel Pearl.

'We are excited to have a partner who is coming in at the beginning of the adventure of Paramount Vantage and will help us as we grow our business and extend our brand on a global level,' Vantage president John Lesher and co-president Nick Meyer said.

'This new film financing agreement will give [Vantage] the funding it needs to expand its franchise and continue to produce quality, award-winning films such as Babel,' Morgan Stanley executive director Christine Lavelle said.