Coin will fuel pursuit of deals in 'most compelling' areas of biz
Peter Chernin has added about $100 million to the Chernin Group’s coffers through investment fund Qatar Holding LLC.
Chernin announced the deal in a statement on Thursday. Although financial details were not disclosed, a source with knowledge of the transaction estimates the investment at about $100 million.
Coin adds to Chernin’s previous investment from backers including Providence Equity Partners, which infused the company with about $200 million in April.
Chernin has turned his eye toward India and Asia in recent months, making a number of investments including buying a 49% stake in Endemol India. New coin will likely be used to grow businesses in emerging markets.
Qatar Holding, a subsidiary of Middle East sovereign wealth fund the Qatar Investment Authority, is known in entertainment circles for its 2010 purchase of Miramax along with Colony Capital and Ron Tutor.