Vine Alternative Investments, a financier of the media and entertainment industry, has closed its latest fund above target.
The New York-based firm announced last week that it raised $608 million for its Vine Media Opportunity Fund IV. The vehicle held its final close in December, beating its $600 million target. Vine had deployed more than $137 million of Fund IV by the time of the announcement.
The vehicle will continue the firm’s strategy of investing in assets backed by major film, television and media entertainment companies. Vine funds film production, working capital and marketing and distribution expenses. The firm also invests in royalty assets, participations and film and television libraries, according to the firm’s website.
FocusPoint Private Capital Group served as the placement agent for the fund.
The investor pool for the vehicle included pension plans, endowments and family offices across Canada, Europe and the US. The Florida State Board of Administration invested $100 million into Fund IV in December 2017. Fund III closed in 2015 and raised $500 million, beating its $300 million target. The SBA also invested $100 million in that fund.
Vine was founded in 2006 and has since committed over $700 million in capital. The firm has $1.16 billion in assets under management.