Great Point Entertainment Income Trust is set to raise £200m in an IPO for a first of its kind trust focussed on TV and Film productions.
The trust will be managed by Great Point Investments who will utilise a wealth of experience in the sector, investing £488m in projects such as Doc Martin for ITV, Line of Duty for BBC and Brexit for Channel 4 since 2013.
The Trust will provide investors with exposure to the productions from broadcasters like the BBC, ITV, Sky and Channel 4 in addition to streaming platforms such as Netflix and Amazon Prime Video.
Great Point Entertainment Income Trust will build a portfolio of senior debt secured against pre-sold IP rights.
The income mandate of the trust is highlighted with a target 6% dividend yield as the trust invests the lions share of IPO proceeds over a 9 month period.
“We are excited to offer investors access to the production of film and television content through a London-listed investment trust,” said Norman Crighton, Chairman of Great Point Entertainment Income Trust PLC.
“This is the first of its kind and an opportunity for investors to tap into a market that has proved resilient to both economic downturns and COVID-19, whilst being anchored by some of the world’s biggest media and technology businesses such as Amazon, Netflix, Disney, Apple, Google and Facebook.”
“GPEIT will provide investors with an attractive income stream and modest capital growth achieved through a portfolio of senior loans secured against pre-sold IP rights to finance the production of film and television content. In doing so, GPEIT provides a robust alternative income strategy uncorrelated to traditional financial markets which is highly appealing to investors.”
“In Great Point Investments Limited, we have an investment adviser with an unrivalled expertise and track record in delivering successful projects in this sector and we are excited to offer investors access to a listed investment company under their stewardship.”