Citizen Entertainment Fund

CEF is a low volatility, non-correlated fund to acquire senior secured media debt. The managers have 10 years' experience originating these assets globally, maintaining mid-teen's average coupon, fully secured. The exit for the fund will be the amortization of the assets in the fund. The manager anticipates using additional cross collateralized, short term facilities, to enhance returns. Minimal leverage will be placed on the securities acquired.

Bank regulations continue to tighten, causing severe shortfalls in liquidity throughout the global economy and prompting spreads to widen. This illiquidity is further exacerbated by such events as Basel III liquidity requirements for banks. Tax structure changes (film industry subsidies) and general indifference by conventional banks have created the need for other sources to provide financing. New and exiting opportunities lie in Print and Advertising financing for feature films and in funding the explosive world demand for video gaming products. These are all investments that the managers have experience placing in the alternative investment space in the USA, Asia, Latin America, and Europe. The managers have developed many innovative and well-collateralized structures and are placed perfectly to take advantage of these opportunities.

Patrician Funds