EBF & Associates and Palmstar Media Capital Partner for New Film Financing Venture
Minneapolis-based private investment firm EBF & Associates and Kevin Frakes' PalmStar Media Capital announced today the formation of Merced Media Partners, a strategic partnership that is targeting investments in approximately 15 films per year. Merced was introduced to the industry at this year's Cannes Film Market, where it began seeking investment opportunities. Since then, Merced has circled over $20M in financing for an initial slate of pictures leading into TIFF, including EVERY SECRET THING starring Diane Lane and Elizabeth Banks, to be directed by Amy Berg; CHAINED to be directed by and starring Ryan Phillippe and CAREFUL WHAT YOU WISH FOR starring Isabel Lucas, to be directed by Elizabeth Allen. Merced recently closed on a structured facility for some of Exclusive Media's upcoming titles, the first of which is Ron Howard's RUSH. Merced plans to announce additional investments leading up to the American Film Market in November.
Raj Singh, Stuart Brown and Mike Sullivan of EBF & Associates are involved with the day-to-day operations of Merced Media Partners.
Founded in 1988, EBF & Associates is a privately-held registered investment advisor specializing in alternative investment strategies. The firm currently has $1.3 billion in capital under management. Limited partners include endowments, foundations, state and corporate pension plans, family offices, and high net worth individuals.
PalmStar Media Capital is a Los Angeles based entertainment company focused on motion picture investments and specialty financial services. It is owned and operated by partners Kevin Frakes and Peggy Taylor. PalmStar also develops and produces films through its production arm PalmStar Entertainment. Recent film credits include Rashida Jones' CELESTE AND JESSE FOREVER currently in theaters and being released by Sony Pictures Classics; Bille August's NIGHT TRAIN TO LISBON starring Jeremy Irons and Melanie Laurent; the Paul Walker starrer VEHICLE 19; SEVEN BELOW with Val Kilmer and Ving Rhames and the New Orleans-set Hurricane Katrina drama HOURS, starring Paul Walker.<