Content material Companions, a non-public fairness agency backed by the Carlyle Group, has created a brand new non-public credit score technique for the leisure sector.
The agency has launched Content material Companions Credit score (CPC), which can quickly begin originating loans to fund new content material improvement.
Leisure banker Alphonse Lordo will head up the brand new non-public debt platform. He was beforehand managing director and head of leisure at Truist Securities.
Lordo stated that he sees content material improvement lending as “a billion-dollar-plus market that’s simply unloved and never tapped at this second.”
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CPC will concentrate on lending to impartial studios, expertise businesses, and anybody who owns leisure IP rights to movie, music and tv content material.
It should provide versatile capital, from first-lien debt to most popular fairness investments. The platform will specialise on middle-market offers of between $25m (£19m) and $50m.
Lordo informed Deadline that the launch of the non-public credit score platform is in response to an absence of funding alternatives for offers beneath $100m.
“Banks have funding points, and so they have regulatory pressures,” he stated. “Enter non-public credit score to sort of assist stretch past what a financial institution can do for purchasers.
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“As we assessed {the marketplace}, for any kind of deal construction, there weren’t lots of credible non-public capital suppliers in that sort of $10m to $100m vary, and we thought that was a void that we might fill.
“We all know the IP very effectively. We all know the enterprise fashions very effectively. We perceive them. We all know the chance match, and we all know the gamers … and thought nobody’s doing this in a method that’s partnership oriented, that’s right here to supply monetisation for IP plus development capital for producers, distributors, catalogue house owners, funding corporations who’re shopping for catalogues, funding corporations which might be doing co-finance and slate offers.”
Content material Companions owns rights or pursuits in additional than 500 movies and three,000 hours of tv, together with 13 Happening 30, Black Hawk Down, and the CSI tv franchise.
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