Aramid Entertainment Fund, the new investment company ran by the backer of the British film The Queen, is behind Manolete, the Spanish biopic of the most famous bullfighter.
Adrien Brody will play the legendary matador Manuel Rodrguez Snchez, and Penelope Cruz will play Lupe Sino, the actress Snchez loved until his death in the bullring. The fund, which was launched in October, expects the film to premiere in May at the Cannes Film Festival.
Aramid expects to raise 150 million as Britain’s hedge fund interest in financing films continues. The Cayman Islands incorporated fund provides services in bridge and mezzanine financing, along with specialised discounting of tax incentives for film makers. The hedge fund has also financed the Pearl Earring, Kill Bill 2 and Bend it Like Beckham.
Experts say the increasing interest in film and television financing is due to investors wanting to diversify. Investors also hope blockbuster movies will provide larger returns than traditional financial markets.