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Opalesque Exclusive: Elliott Associates parks additional $1bln in tax-advantaged film fund, Ryan Kavanaugh`s Relativity Media
`100% principal protection of capital in tax advantaged film fund is key to economic development and job creation`
New York based Elliott Associates has recently parked an additional $1 billion into Ryan Kavanaugh's Relativity Media which will finance a large slate of Universal Pictures' films over the next few years.
And the question remains "why?" in today's economic crisis as well as the recent pull out of billions of dollars in institutional capital from the studios.
No matter how bad things are in the world, people need to be entertained. And while the crowd mentality of panic in the U.S. financial markets exists, overseas, properly structured commercial films generate more revenues which add to bigger distributor buys with the value of the Euro vs. USD.
Apart from Elliott Associates, other investors including billionaires, family offices from Wall Street to Silicon Valley to the Middle East to Russia have been parking their money into Hollywood.
Anil Ambani, Larry Ellison Of Oracle, Paul Allen Of Microsoft, Steven Rales, Fred Smith of Federal Express, Norman Waitt, the Co-Founder of Gateway Computers, Jeff Skoll Of Ebay, Marc Turtletaub of The Money Store, Roger Marino Of EMC Corp, Sidney Kimmel Of Jones Apparel Group, Minnesota Twins owner Bill Pohlad; Real Estate Developers Tom Rosenberg and Bob Yar...................... To view our full article Click here
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