Mumbai: Hackman Capital Partners (HCP), a privately held real estate investment and operating company focused on acquiring and actively managing studio, media, and commercial real estate properties, announced on Friday the final close of the HCP Studio Fund (the fund). The fund closed on $1.4 billion of commitments, exceeding its initial target of one billion dollars and its initial cap of $1.25 billion. HCP also closed on the fund’s co-investment commitments of $200 million in equity capital, bringing the total committed equity capital to $1.6 billion. Investors in the fund comprise a mix of global institutions, including sovereign wealth funds, public and corporate pensions, insurance companies, endowments, foundations, and family offices, among others.
The fund is focused on acquiring studio and media assets with attractive in-place income and growth potential in top production markets across the world. to source investment opportunities and create value through property performance optimisation and strategic studio developments. In addition, HCP’s ownership of affiliate The MBS Group, a studio advisory, production, and equipment services company, will generate long-term cash flow through the provision of production services and stThe fund will leverage Hackman’s 35-year track record, deep industry relationships, and operational expertiseudio-based equipment rentals.
"We are pleased to have completed this institutional capital raise for the studio and media strategy and are grateful for the strong support from our new investment partners. We have built a unique and highly differentiated platform that has established Hackman as the premier owner and operator of independent film and television studios. Combined with our long standing industry relationships, we provide a sustainable competitive advantage, and are well capitalised to execute on a strong pipeline of investment opportunities," said Hackman Capital Partners CEO Michael Hackman.
HCP is established as the preeminent independent owner and operator of studio and media assets, having invested over $8 billion since inception, including marquee studios such as The Culver Studios, Silvercup Studios, Kaufman Astoria Studios, Radford Studio Centre, and Television City Studios. HCP has created a powerful platform that provides production real estate and studio services to media companies including Amazon, Apple, ABC, CBS, Disney, HBO, Marvel, Netflix, Sony, Showtime, and Warner Brothers.
As of Q2 2022, the fund was approximately 50 per cent invested and committed. It has made seven investments for a total of $488 million of fund equity capital.