Palatine Asset Management
Palatine Asset Management | Hedge Fund Notes
The following piece on Palatine Asset Management is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.Resource #1: (11.17.08) Palatine Asset Management is going Hollywood with its latest hedge fund. The firm has launched Capitoline Global Media Fund, a media debt fund, for which it expects to raise $250 million.
The fund will offer collateralized loans to film studios and media companies, and will be secured by existing film rights, music rights and libraries, as well as other media assets. Investments may include bridge loans and medium-term loans for completion of ongoing film, music and other media businesses. All loans for in-progress productions will be covered by completion bonds to provide risk-mitigated and non-correlated returns in the fund. Source
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Press Release
Feb 4th, 2009
Palatine To Acquire Speed Racer Assets
Los Angeles, February 4th, 2009 - Palatine Asset Management Ltd.
("Palatine"), announced today it is in negotiations to acquire an
undisclosed interest in the Viacom-broadcast television series "Speed Racer:
The Next Generation". This acquisition marks the initial foray into
television by a Palatine-managed fund.
Palatine to Expand Media Strategy
Palatine expects to expand its acquisition strategy to acquire "branded"
content. This strategy will include the management of broadcast as well as
intellectual property cash flows.
Brian Gilmore, portfolio manager of Palatine, explained, "Speed Racer puts
us in everything from broadcast television and video games to amusement park
rides and lunch boxes . We have every confidence that the uniqueness of the
Speed Racer brand and its loyal following will enhance the returns to our
investors and position our returns to grow as the brand gains the momentum
spearheaded by the Nicktoons Network. The series began airing in May 2008,
Lion's Gate DVD sales have exceeded projections by a wide margin, and the
intellectual property continues to be successful globally. We like the
youthful demographic and believe in the ongoing appeal of children's
programming globally."
Palatine's Chief Investment Officer, Gregory Gac, added, "In today's bleak
economic times, our investment focus on defensive and non-correlated
financial assets such as the Speed Racer rights should both protect capital
and produce respectable yields."
Palatine will continue to partner with Lions Gate Home Entertainment.
About Palatine Asset Management.
Palatine Asset Management is incorporated in Mauritius and is a dedicated
asset management company focused on film, music and other media-related
investments.
About the Manager - Brian Gilmore
Mr. Gilmore's career in Investment Banking began more than 20 years ago at
Drexel Burnham Lambert as a Senior Vice President in Mortgage Backed
Securities. While at Drexel, Mr. Gilmore was responsible for account
coverage with banks and savings and loans nationally. Mr. Gilmore left
Drexel to create Wedge Capital Partners (WCP), a Resolution Trust
Corporation (RTC) asset manager. As an asset manager, WCP bid as principal
on the acquisition of distressed assets owned by the RTC. After WCP merged
with Coast Partners Securities, Mr. Gilmore led the Emerging Markets sales
and trading group, instrumental in trading hundreds of millions of dollars
of Emerging Market debt and infrastructure projects, including airport
financings in Belize and hotel financings in the Caribbean. Mr. Gilmore also
structured and placed the nouveau securitizations of restaurant franchise
finance bonds, secured by fast food restaurants. Mr. Gilmore joined CapStone
Investments in 2002 as head of Fixed Income, where he created new
asset-backed classes and novel structures within the film finance space. Mr.
Gilmore left CapStone in 2005 to establish Capitoline Global Finance. He
founded Palatine in 2007 to take advantage of the opportunities developed by
Capitoline. Since 2006, Mr. Gilmore has managed a successful in-house fund
seeded with family money and applying the same strategy as the Fund.
Important Notice:
Investment involves risk. Investors should always refer to the relevant
offering documents and seek professional advice before investing. The Fund
is suitable for professional investors only and investors should note that
the Fund uses alternative investment strategies and the risks inherent in
them are not typically encountered in traditional funds.
The information contained in this document does not constitute an offer to
subscribe for shares or interests in the Fund. Any offering is made only
pursuant to the relevant information memorandum, together with the current
financial statements of the Fund, if available, and the relevant
subscription application, all of which must be read in their entirety. No
offer to purchase shares will be made or accepted prior to receipt of these
documents and the completion of all appropriate documentation. As always,
past performance is not a reliable indicator of future performance.
Palatine Asset Management Ltd
2901 West Coast Highway, Suite 200, Newport Beach, CA 92663
Contact Brian Gilmore, CEO, Tel: (949) 270-2913
Email: brian@palatinefunds.com
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