Citing an improved marketplace, Grosvenor Park will re-enter the film lending business three years after leaving it.
In an announcement Monday, Grosvenor Park said it expects to deploy a minimum of $100 million over the next year, targeting films with budgets ranging from $10 million-$30 million.
The 30-year-old Grosvenor Park also said it will launch an EIS film fund in the U.K. this fall to take advantage of the “recent beneficial changes in the EIS program which allow for participation in significantly larger film projects.”
In the announcement, partners Don Starr and Joe Kaczorowski said the company will provide senior, gap and tax lending collateralized primarily by territorial distribution rights and production tax incentives on films.
The company said Monday that the strategy is similar to that for its past successes. Grosvenor Park touted that approach as a way to differentiate itself by providing a “one-stop shop” financing solution for independent films in the mid-range budget level.
“Now is an optimal time to re-enter the film lending space given the strength of the marketplace and the current industry dynamics. As evidenced by a resurgence of sales activity at the most recent film markets, the demand for independent product is stronger than ever,” Starr said. “Grosvenor Park offers an experienced team that has a proven history of successful, unparalleled expertise in streamlining the financing and closing process for producers.”
Since 1982, Grosvenor Park has arranged financing for more than 400 projects.