Teutonic banker dumps film fund

DCM dished out coin for 'The Aviator' and 'Alexander'

BERLIN — In a sign that Germany’s private film fund market may be under increasing strain, Deutsche Capital Management has shelved its new IMF 4 fund, saying “general uncertainties” about the capital market regarding tax benefits and economic opportunities are scaring off investors and fund distributors.

Yet DCM, which partially bankrolled Hollywood titles such as “Terminator 3: Rise of the Machines,” “Alexander” and “The Aviator” with its IMF 3 fund, insisted that there were no real grounds for the apparent anxieties.

DCM said Thursday, it pulled the IMF 4 fund from the market after it appeared unlikely that it would reach the necessary tar-get volume of €50 million ($66 million).

IMF funds have raised more than $1 billion since the company’s establishment in 1996 and is set to back the upcoming “Ba-sic Instinct 2” with its IMF 3 vehicle, which managed to raise some $219 million last year.

While general unease surrounding the capital market is a main factor behind the German film fund industry’s current malaise, the market also has suffered from tightened regulations that have made the operation of film funds more complicated in recent years. Additionally, some film funds have been forced to shut down due to legal problems, further staining the business.

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