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Laxman Pai, Opalesque Asia: Los Angeles-based Hackman Capital Partners has $1.4 billion of commitments for its HCP Studio Fund from investors including sovereign wealth funds, pensions, and family offices, exceeding its initial target of $1 billion and its initial cap of $1.25 billion
Some of the investors have also committed an additional $200 million in equity on top of the fund.
The real estate investment giant behind some of entertainment's most iconic studio properties like Television City, Culver Studios, Kaufman Astoria Studios, and Raleigh Studios is making plans to go on the acquisition hunt for more assets.
A media statement from Hackman confirmed that the fund will be used to buy studio assets with "attractive in-place income and growth potential" in leading production markets globally.
Michael Hackman, CEO of Hackman Capital Partners said: "We have built a unique and highly differentiated platform that has established Hackman as the premier owner and operator of independent film and television studios. Combined with our longstanding industry relationships, we provide a sustainable competitive advantage, and are well capitalized to execute on a strong pipeline of investment opportunities."
HCP has created a powerful platform that provides production real estate and studio services to many of the world's most prominent media companies including Amazon, Apple, ABC, CBS, Disney, HBO, Marvel, Netflix, Sony, Showtime, and Warner Brothers, the re...................... To view our full article Click here
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