Magna Rolls Out Pix Dough

After working quietly for the past four years, the Magna Group surfaced last week at the CineAsia movie convention and unveiled its expanding role as an investment bank and consultant specializing in the entertainment sector.

Execs disclosed a tie-up with prominent film industry lender Chemical Bank and said they’re currently involved in a slate of projects budgeted at $100 million to $120 million.

The Singapore-based company is owned by two local concerns, the wealthy Eu family and Pan Pacific, plus the management. L.A.-based Andrew Craissati, former managing director of Landmark Entertainment’s theme park division, is Magna’s group managing director.

Craissati told Variety Magna intends to open branch offices in Sydney and London this year, and aims eventually to become a full-service bank.

He said Magna has created a venture capital fund that’s involved in transactions with three Chinese-language production firms. One involved securing an investment of nearly $5 million from Japan’s Nomura for a Singapore producer, JSP Films. He would not disclose the other two projects due to client confidentiality.

Magna also is launching a venture capital fund in collaboration with a European merchant bank (which he declines to identify) to fund software developers.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading