Investment

Deal of the Week: Family offices back entertainments group

A group of principal/family investment offices have joined media groups to back a company specializing in cross-culture entertainment. 

Serena Ventures, owned by tennis star Serena Williams, private equity billionaire Marc Rowan, probably through his family office RWN Management, and SC. Holdings, an investment group backed by Luxembourg/New York City-based family office, Eastbridge Group, owned by the Bruckner family, have backed SpringHill Entertainment.

SpringHill was set up by basketball legend LeBron James and business partner Maverick Carter. 

Burbank, California-based SpringHill received $100 million from the above investors as well as five others, which included Murdoch-controlled News Corp., finance group Guggenheim Partners, the University of California, and UK entertainments group, Sister Partners. 

SpringHill says it creates compelling stories for television, features, and digital and prides itself on incubating, developing, and producing work that speaks to a cross-cultural audience.

The investment comes at a time when diversity in the media/entertainment industry has moved up the agenda in light of the Black Lives Matter movement. 

 

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