Premiere Picture set to expand

Financier receives funding boost

Premiere Picture has received an investment from an offshore private equity fund to expand its sales and production activities and to open a new office in central London.

Neither the amount of the investment, nor the identity of the investor, has been revealed.

Premiere Picture runs Sovereign, one of the only film production funds unaffected by the U.K. government’s clampdown on tax financing earlier this year. Recent pics backed by Sovereign include Deco Entertainment’s “Gospel Hill,” starring Samuel L. Jackson.

Premiere Picture chief operating officer Adam Betteridge said, “This injection of capital is a significant development for Premiere, which allows us to build rapidly on the unique market position we occupy with Sovereign, one of the few film finance products left standing.”

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