Australian pension fund Super Media has arranged a A$20 million facility for Fulcrum Media Finance, the Australian film and TV financier. The attraction from Super Media’s point of view is that the money will just be used to cash-flow the Australian tax rebate. In the movie business, that’s about as risk-free film finance as you can get. Super Media currently has more than A$$2.5 billion under management.
Fulcrum has provided A$30 million of finance to 20 film and TV projects in both Australia and New Zealand, representing total production value of A$230 million. The new A$20 million facility adds to Fulcrum’s existing A$50 million funding capability, provided by an institutional bank and private investors. Apart from the Australian Producer Offset, Fulcrum also offers some gap finance, discounting distribution guarantees and bridging finance. Projects that it has helped finance include this year’s Cannes Film Festival closing Australian/French co-production The Tree and UK/Australian co-production Oranges and Sunshine. Fulcrum is also entering the UK market, providing similar services around the UK tax credit.
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