Fortress Credit Corp, the vulture capital fund that lent to Capital + Merchant, MFS and Hanover, has announced it will invest US$300 million with a firm financing movies in Hollywood, including a mock horror film and a movie starring the actor who played James Bond.
The first movie to be made with Fortress money will be Disaster Movie, which is being made by the directors of Scary Movie and Epic Movie. The second is Defiance, which will star Daniel Craig of Bond movie fame.
Fortress is expected to invest US$35 million in these two movies.
It is investing in a fund which has financed over 400 movies by issuing loans backed by pre-sold international rights or tax incentives.
Fortress Credit was widely credited as the financier that pulled down Capital and Merchant and as the financier that managed to get fully repaid from the wreckage of the MFS collapse.
It has lent over NZ$10 million to Hanover.
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