RGM 400 MILLION

RGM hatches $400 million prod'n fund


Written by Michael Fleming

Tuesday, 05 August 2008

Singapore-based management and production company RGM Entertainment has set up a fund that will spend up to $400 million to fully back a handful of English-language features and TV productions over four years.

Money comes from a combination of debt provided by Oceana Media Finance, plus coin from RGM itself and institutional investors from Singapore.

The 25-year-old RGM, run by chairman Robyn Gardiner and CEO Devesh Chetty, started in Australia but moved to Singapore four years ago to better tap Pacific Rim talent and coin.

The management company reps some 300 clients, including Cate Blanchett.

The funding deal reflects RGM's growing ambition in production, following its assistance in financing the upcoming Jan De Bont-directed "Point Break 2" and "Winged Creatures," a drama that stars Forest Whitaker and Kate Beckinsale.

Gardiner and Chetty planned to meet with Hollywood studios and agencies this week.

They aim to firm up at least two film projects in the $15 million-$40 million range to finance over the next year, with the goal of financing four pictures per year.

Some of the projects will involve RGM clients, such as an India-based film that is in the formative stages and was hatched by Blanchett as a star vehicle.

Others will just be projects that have North American distribution and the potential to play in the global marketplace.

"My background is in finance and production, and Robyn's is in talent management, and we see this as a natural progression," Chetty said.

"We share clients with all of the major agencies and will turn to them for help in finding great material,

with the only requirement that we want to have North American theatrical distribution to protect our downside."

Paradigm's Motion Picture Finance Group represented RGM in the funding deal.

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