It was announced today that Solar Entertainment Group's Jared Underwood has launched a full-service specialty financing entity titled Solar Media Capital and has hired former Comerica Entertainment Group executive Andrew Robinson to manage the new operation.
Solar Media Capital is positioned to participate in all levels of filmed entertainment financing, providing lending alternatives not consistently covered by banks or credit investors. Examples include single picture financing, (gap, super gap, tax credits, foreign rights sales), bridge lending, library loans, P&A funding, film ultimate lending, as well as distressed and/or special situations lending.
Solar Media Capital is a subsidiary of Solar Entertainment Group – a company backed by financial and strategic investors committed to skillfully vetted feature film investment opportunities. Among the investors and strategic partners are Edward Lawson Johnston, founder of the London-based merchant bank LJ Group, which has more than $7 billion of assets under supervision; the New York-based Shu family with major holdings in real estate and energy in the U.S., Romania and China; and Bobby Paunescu, the majority owner of one of the top ten private industrial conglomerates in Central and Eastern Europe, with businesses ranging from wind energy parks, insurance, transportation, hotels, agriculture, mining, real estate development, and media.
Said Underwood, "Solar Media Capital is an integral component of what we are building at Solar Entertainment Group. Now we can not only provide filmmakers with production services at our facilities in Romania, but also provide them with all their capital needs."
"Solar Media Capital will provide filmmakers with nimble, creative and comprehensive solutions to their financing needs," said Robinson. "I'm looking forward to continuing to work with and expand on the great relationships I formed through my years at Comerica."