Patrician launches film fund

Will offer coin to studios, distributors, filmmakers

Year-old Patrician Asset Management has launched Citizen Entertainment Fund, which will focus on financing senior debt, with a major portion of the portfolio in prints and advertising.

Citizen Entertainment — managed by Patrician CEO Brian Gilmore, senior portfolio manager David Forbes, Patrick Murray and Steve Flynn — will offer funding to studios, distributors and filmmakers. Gilmore and Murray will be at the Cannes film market.

“The credit crisis has had a major impact on the media community,” Gilmore said. “Current market conditions severely hamper the completion of many new projects, giving us an opportunity to participate in some high-quality films that in any other economic environment would have been exclusive to studios only. This is an exciting time for investors in the movie business.”

Move comes six months after Endgame Entertainment launched an ambitious marketing venture dubbed Endgame Releasing to partner with equity investors, third-party producers and studios to provide P&A funding for wide-release films. Endgame’s production of Rian Johnson’s sci-fier “Looper” will take advantage of Endgame Releasing by co-financing marketing costs with FilmDistrict for its release this year.

“We understand the difficulty in today’s environment for completing the financing process and are looking at projects that exhibit the kind of marketability that warrant an investment,” Forbes said. “We recognize that the market needs reliable P&A financing for the extensive number of productions that deserve an opportunity to compete.”

Gilmore founded Capitoline Global Finance in 2005, has worked with Lionsgate, InterMedia and Senator Entertainment and was involved in raising the capital for the Turner acquisition of the MGM library.

Forbes has managed P&A investments for Fox, MGM, United Artists, Orion Pictures and Columbia including investments in “Silence of the Lambs,” “Dances With Wolves,” “La Bamba” and “A Fish Called Wanda.” He also founded and ran the David Forbes Company for the past 17 years, where he handled marketing and distribution services along with consulting on marketing.

Murray has over 30 years’ experience in the entertainment and financial services industries and co-founded Ensemble Entertainment with Tony To. Flynn was formerly president of Edge Entertainment and worked Academy campaigns on “Brokeback Mountain,” “Lost in Translation” and “The Pianist.”

Popular on Variety

More Film

  • "Tezuka's Barbara" in competition at Tokyo

    ‘Tezuka’s Barbara’ and ‘A Beloved Wife’ Head for Tokyo Festival Competition

    Two Japanese films, “Tezuka’s Barbara” and “A Beloved Wife” have been selected for the main competition section of next month’s Tokyo International Film Festival. The festival will reveal the remainder of the competition and the bulk of its other selections later this month. To date the Japanese festival has only revealed its opening film (“Tora-san, [...]

  • Garin Nugroho film "Memories of my

    Indonesia Selects Controversial 'Memories' as Oscar Contender

    “Memories of my Body” directed by Garin Nugroho has been selected to represent Indonesia at the Academy Awards in the best foreign-language film category. The announcement was made on Tuesday by actress Christine Hakim representing the Indonesian Film Selection Committee. The fact-based film depicts the story of a young man from a dance troupe that [...]

  • Benjamin Wallfisch - scoring session, Abbey

    Composer Benjamin Wallfisch Signs With Gorfaine/Schwartz Agency

    Composer Benjamin Wallfisch has signed with the Gorfaine/Schwartz Agency (GSA) for worldwide representation, in partnership with London-based agency COOL Music Ltd. A top composer, whose scoring credits include “It Chapter Two,” Shazam!” Hellboy,” “Hidden Figures” and “Hostile Planet,” among others, Wallfisch has worked on over 75 feature films and is a member of the BAFTA [...]

  • The Moneychanger

    Toronto Film Review: ‘The Moneychanger’

    Uruguayan auteur Federico Veiroj (“The Apostate,” “Belmonte”) broadens his usual intimate dramatic scope to diminishing returns for his fifth feature, “The Moneychanger,” . Adapted from a novella by compatriot Juan Enrique Gruber, the period (mid-1950s to mid-1970s) tale centers on the eponymous character, an amoral currency exchanger, who winds up laundering some of the dirtiest [...]

  • Send Me to the Clouds

    Film Review: ‘Send Me to the Clouds’

    The social and economic pressures felt by China’s “leftover women” — referring to those older than 26 and unmarried — are examined in “Send Me to the Clouds,” a rewarding dramedy about a 30-ish journalist seeking financial reward and sexual fulfillment after being diagnosed with ovarian cancer. Bold by mainland standards for presenting a positive [...]

  • Jamie Bell Without Remorse

    Jamie Bell Joins Michael B. Jordan in 'Without Remorse' Adaptation (EXCLUSIVE)

    Jamie Bell is in final negotiations to join Michael B. Jordan in Paramount’s adaptation of the Tom Clancy novel “Without Remorse.” Stefano Sollima, who most recently helmed “Sicario: Day of the Soldado,” is directing from a script by “Sicaro” screenwriter Taylor Sheridan. As previously announced, Jordan is starring as operations officer John Clark, also known [...]

More From Our Brands

Access exclusive content