Hindsight + Head Gear Team Up On New £30M Mezzanine Fund that will focus on both film and TV projects in the UK and US
UK FINANCIERS Head Gear and Hindsight have launched a new mezzanine fund that will focus on both film and TV projects in the UK and US markets.
The fund – branded H2 – expects to conclude its first financing deals immediately after Berlin and it is offering producers both tactical short terms loans and permanent mezzanine finance at competitive levels in the current market place.
Agreement to launch the fund follows discussions over recent months and an acknowledgement that H2 will complement existing Hindsight and Head Gear business and help increase both the volume of deals and the flexibility for both companies to provide film and TV producers with financing models that work in the current landscape.
The first £5m for H2 is committed from existing Hindsight and Head Gear funds/investors and the expectation is that this will increase to the £25m-30m level by the end of the first year’s trading. The financiers are working with a third party fund raiser going forward who will bring in new sources of investment for H2.
Phil Hunt, Head Gear, CEO, commented “Head Gear’s aim has always been to provide efficient, speedy and straightforward investment to producers. I’m really looking forward to teaming up with Tim and James, and helping producers plug their finance plans so they can get on with making the actual film.”
Tim Smith, Hindsight, Chairman, commented "We're delighted to be working with Phil. The Hindsight and Head Gear teams have a very similar approach to providing finance in the independent film and TV sectors and H2 is a natural extension of our working relationship. Launching H2 and building it in the initial year will strengthen and compliment our respective businesses."
James Swarbrick, Hindsight, CEO, commented “H2 will complement our existing suite of financing option for producers as well as providing a much needed component of a project’s finance plan. We have an exciting pipeline of projects and look forward to working with Head Gear to build the fund over the coming years.”