GSFM teams up with AEP for new screen fund

GSFM has partnered with the Australian Entertainment Partners to launch the AEP Screen Fund, which will invest in film and television projects made in Australia.

The fund is looking to raise up to $100 million of equity from institutional and wholesale investors, which will be paired with a bank facility of up to $500 million arranged and led by leading financial institutions in the global screen industry.

The fund will be a seven-year fund (five years with a two-year wind down) and seeks to produce a cap of 40 original productions, increasing to a total of 55 projects which would include sequels and continuing series.

The partners said the AEP Screen Fund is forecast to produce film and television content in excess of A$1.7 billion, the majority of which will be spent locally with a focus on 'made in Australia' productions.

"The fund will provide long term financing for the Australian screen industry on a low-risk basis for investors in the fund. This is because the investment criteria for the Fund to finance a project requires the costs of the vast majority of projects to be fully covered by studio or streamer contracts and government incentives prior to the commencement of production," GSFM chief executive officer Damien McIntyre, said.

AEP's founders - Greg Basser, Bob Osher and David Burdge - have, between them, produced or financed over 400 projects in excess of US$30 billion, and films with over 150 Academy Award nominations and 30 Oscar wins.