Crescent Financial Partners has invested $10 million for a minority stake in Prominent Pictures LLC, an independent film production company.
Today, Crescent Financial Partners, Inc., (CFP) announced it has signed an agreement to acquire a minority equity stake in Prominent Pictures, LLC for a minimum initial guaranteed commitment of $10 million to contribute towards a slate of feature films budgeting between $2M-$10M each.
Prominent Pictures, LLC, is an independent film production and integrated media company founded by Paull Cho and Heather Rae and represented by William Morris Endeavor Global (WME). WME also represents Cho while United Talent Agency (UTA) represents Rae.
Cho is an accomplished entertainment executive and producer in music, television, and film. Heather Rae has worked as a producer and executive in the film industry for twenty years. In September 2009, Rae was listed on Variety’s Ten Producers To Watch after producing “Frozen River” starring Melissa Leo and Misty Upham. “Frozen River” was nominated for two Academy Awards (Best Actress and Best Screenplay), won Gotham Awards for Best Picture and Best Actress and was nominated for seven Spirit Awards resulting in a Best Actress win for Melissa Leo and Producer of the Year for Rae.
Cho and Rae’s synergistic relationship is demonstrated on multiple film projects produced together prior to their newly formed banner. “Our focus is on smart financing models for independent films by forging key strategic alliances with distributors, studios, and agencies that address the best means of commercial success for each individual project we choose to produce− not necessarily as a slate. It’s about making smart films, one film at a time,” states Cho.
Their anticipated slate includes feature films Sian Heder‘s “Tallulah” and Von Friedenberg‘s “A Thousand Guns” starring Academy Award Nominee Vera Farmiga. “Paull and I are thrilled about the opportunity CFP is providing us,” Rae remarks. “We intend to make bold statements in the marketplace by producing content that speaks to the commercial and visionary aspects of the industry. Prominent will support the finest writers, directors and actors in their best work.”
Russell Armstrong, Managing Director of Crescent Financial Partners, Inc., asserts, “We are pleased to have this opportunity to work with a visionary like Paull Cho and such a talented producer as Heather Rae who has cultivated 20 years of respect from her peers and is in the pantheon of elite producers in film.”
“Through Prominent,” continues Armstrong, “Heather Rae and Paull are working on a very exciting slate of films that we believe could potentially rival the quality and success of ‘Frozen River.'”
About Crescent Financial Partners, Inc.:
Crescent Financial Partners, Inc., (CFP) is a Los Angeles-based private equity merchant banking firm, focused on early stage and middle market investment opportunities. CFP is a principal investor, providing project and growth funding, business development expertise, and strategic and financial guidance to a number of business sectors.
For more information on Crescent Financial Partners, Inc. please visit: www.crescentfinancialpartners.com