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Macquarie commits $58m to Prime Focus World

  • Andrew Woodman
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Macquarie Capital has invested $53 million in Prime Focus World (PFW), the creative services division of India-headquartered entertainment company Prime Focus.

According to a statement, the investment - which values the subsidiary at $300 million - will be made in two tranches of $38 million and $15 million. PFW provides visual effects and animation services to major film studios, and it will use the capital to build its creative services platform and make a number of acquisitions.

Last week, Prime Focus revealed it would be opening an office in Beijing in order to tap into the growing Chinese film market. In March, the company entered a joint venture with Hong Kong private equity firm AID Partners and Zhejiang Jingqi Wenhua Chuanbo Company; at the same time, AID Partners injected $10 million into PFW.

Standard Chartered Private Equity also invested $70 million in Prime Focus last November, paying $35 million for a 19.71% stake and investing an additional $35 million through non-convertible debentures.

PFW is the world's largest provider of 2D-to-3D content conversion, visual effects and animation services. Previous projects include The Great Gatsby, Star Wars: Episode One - The Phantom Menace, Transformers: Dark of the Moon, Avatar and Wrath of the Titans.

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