Aramid Capital launches new fund

'W.' investor hopes to raise $390 million

LONDON — Film and TV finance group Aramid Capital Partners, investors in pics such as “How to Lose Friends and Alienate People” and “W.,” has launched a new fund aimed at raising £250 million ($390 million).

The move comes despite the downturn in international economies and is designed to meet demand for investment in the global entertainment industry, which ACP said is forecast to grow by 6.7% this year and 7.3% in 2009.

“The entertainment industry continues to offer strong investment opportunities, and our second fund will allow Aramid to take advantage of additional investment opportunities beyond the scope of its first fund,” said ACP chief exec Simon Fawcett.

The Aramid II Fund will provide loans to producers, distributors and libraries of film, TV and music, plus other digital content, including vidgames.

Aramid I focuses on loans and tax credit financing to indie TV and film producers.

ACP is also launching a separate $12.5 million fund in Germany for indie films.

Launched two years ago, ACP said its first fund had achieved returns in excess of 20% last year, while returns so far this year were 9%. The new fund is targeting net returns of 12%-15%.

ACP comprises Future Capital Partners, Screen Capital Intl. and Stonehenge Capital, which among them have managed $10 billion in film financing over the last decade.