Bruno Wu, the Chinese media entrepreneur, and Harvest Fund Management, an investment group backed by Deutsche Bank and China Credit Trust, have set up a private equity fund aimed at pouring up to $800m into Hollywood films, writes Kathrin Hille in Beijing.
The venture is the latest effort to exploit Hollywood studios’ hunger for the fast-growing but closed Chinese movie market and Chinese ambitions to play a meaningful role in the global film industry.
Mr Wu and Lindsay Wright, chief executive of Harvest’s alternative investments arm, said Harvest Seven Stars Media, the fund, would seek to finance big Hollywood productions with a view to giving them co-production status in China.
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