Vine Alternative raises $350 mln in interim close for entertainment assets

  • Firm: Vine Alternative Investments Group
  • Fund: Vine Media Opportunities Fund IV
  • Target: $500 mln
  • Hard cap: $750 mln
  • Placement Agent: FocusPoint Private Capital Group

Vine Alternative Investments collected about $350 million for an interim close on its fourth fund investing in media and entertainment content, a person with knowledge of the firm said.

Vine is targeting $600 million for Vine Media Opportunities Fund IV, with a $750 million hard cap.

The firm, formed in 2007, invests in production financing, marketing and distribution expenses and working capital. It also invests in royalty assets and film and television libraries, according to its website.

FocusPoint Private Capital Group is placement agent on the fundraising.

The firm closed its third fund on $500 million in 2015, beating its initial $300 million target.

Vine is majority-owned by James Moore, managing partner and CEO. Stephen Kovach, chief financial officer, and William Lambert, chief investment officer, each own minority interests, Vine’s Form ADV shows.

As of Dec. 31, 2016, Vine managed $826 million in assets, the Form ADV said.

Earlier this year, Vine acquired a controlling stake in Village Roadshow Entertainment Group along with Falcon Investment Advisors. Village Roadshow handles six to 10 pictures a year, according to a story in Deadline from April.

Vine also obtained, from Manchester Library Co, a 30-title library of movies that includes “The Fighter,” starring Mark Wahlberg, “Limitless,” “Immortals” and more, Deadline said.

Action Item: Check out Vine’s Form ADV here:

A Los Angeles Police Department helicopter flies over the Hollywood sign in California on Feb. 21, 2014. Photo courtesy Reuters/Mario Anzuoni