Frequently Asked Questions

1. Strategy
What is the investment strategy of the Fund?
International Film Fund provides Secured Senior Debt facilities supported by contractual finance in the film and media sector. Each opportunity is evaluated through a credit-first lens, with capital deployed only against legally binding receivables such as verified tax-credit entitlements, distributor minimum guarantees (MGs), pre-sale agreements, assigned receivables, and other documented inflows. IFF secures initial standing within the distribution waterfall, allowing it to recoup ahead of every subsequent participant. The Fund focuses on transactions with defined repayment sources, established counterparties, and clear delivery obligations. Selection emphasises downside protection, collateral strength, disciplined structuring, and repayment visibility—not market-driven performance.

​

2. Differentiation
What makes your Fund unique?

The Fund applies mainstream credit discipline to a part of the entertainment economy where structured lending is rare. This creates access to a tightly controlled opportunity set that is normally unavailable to investors seeking a conservative, process-driven pathway into content financing.

​

3. Investing
How can I invest in the Fund?

Access is available through direct engagement with International Film Fund. Once eligibility is confirmed, the Fund delivers the term sheet and full subscription package for completion.

​

4. Eligibility
Who is eligible to invest in the Fund?

An accredited investor, as defined by the U.S. Securities and Exchange Commission (SEC), is an individual or entity that meets specific financial criteria, allowing them to participate in certain private investment opportunities. For individuals, the criteria include:

​

• Financial Criteria:

  • Net Worth: Over $1 million, excluding the value of the primary residence.

  • Income: Over $200,000 individually, or $300,000 with a spouse or partner, in each of the prior two years, with a reasonable expectation of the same income level in the current year.

• Professional Criteria:

  • Licenses: Holders of certain professional certifications, designations, or credentials issued by an accredited educational institution, such as the Series 7, Series 65, or Series 82 licenses.

  • Knowledgeable Employees: Individuals who are "knowledgeable employees" of a private fund.

  • Family Clients: Family clients of a family office that qualifies as an accredited investor.

Entities can also qualify as accredited investors if they meet specific asset thresholds or are composed entirely of accredited investors.

​

5. Fees
What fees are associated with investing in the Fund?

When investing directly with the International Film Fund, investors are not charged subscription or redemption fees. Standard fund-level operating expenses are managed within the structure and disclosed through the Fund’s reporting framework.If an investment is made through a third-party platform or intermediary, that party may apply its own fees. These charges are independent of the International Film Fund and do not affect the Fund’s distribution rate.For clarity on any third-party costs, investors should consult the relevant intermediary.

​​​

6. Returns

What is the expected return on investment for the Fund?

The International Film Fund has an intended annual distribution rate of 10% p.a., providing investors with a clearly defined income objective supported by secured, contract-based repayment streams. This intended rate reflects the Fund’s structured approach to lending and its focus on predictable, contracted inflows.​

​

7. Administrator

Who is the Fund Administrator?

The Fund Administrator is Formidium Corp. Formidium provides independent administration services, including investor onboarding, AML/KYC verification, fund accounting, NAV reporting, distribution processing, and support for annual financial reporting. Their role ensures that core operational and oversight functions are performed independently and in line with institutional standards.​

​

8. Horizon

How long is the investment horizon for the Fund?

As an open-ended Fund, there is a lock-up investment period of 36 months.

​

9. Redemptions

What is the process for exiting investments in the Fund?

To exit an investment in the Fund, investors must submit a written redemption notice. Redemptions require 60 days’ notice and may only be actioned after the 36-month lock-up period has concluded.

​

10. Transparency 

How does the Fund ensure transparency for investors?

The Fund ensures institutional-grade transparency and reporting standards through a structured, independently supported reporting framework. Investors receive regular updates supported by third-party oversight, including valuation inputs from accredited film-asset valuers and comprehensive statements from the Fund Administrator. The Data Room provides ongoing access to key documents, offering clear visibility into governance, oversight, capital activity, and fund performance throughout the year.​

​

11. Risk

How does the Fund navigate the risks associated with film investments

Our Fund generates investor returns through a secure senior debt structure, with lending capital protected by a lien on underlying assets. Key assets may include:
Territory Pre-Sales – Productions are financed against secured pre-sale agreements, ensuring predictable revenue before release.
Producer Tax Credits – We lend against government-backed tax incentives, providing additional collateral and a reliable source of repayment.
Contracted Rights or Secured Assignments (where applicable) – Loans may be supported by assigned contractual rights that form part of the collateral structure.
By securing capital with liens on contracted receivables, tax credits, and other verifiable revenue sources, the Fund delivers structured, risk-mitigated returns to accredited investors.

​

12. Alignment 

How does the Fund ensure the alignment of interests between the Fund and its investors

The Fund ensures alignment of interests through structural, economic, and governance-driven mechanisms. The investment team participates on the same economic terms as investors, ensuring shared incentives around disciplined asset selection and long-term value creation. Independent oversight from the Fund Administrator, external valuers, and third-party service providers reinforces objective decision-making and protects investor capital. Regular reporting, Data Room access, and periodic disclosures provide visibility into portfolio activity, valuations, and fund performance, in a manner designed to ensure strong alignment of interests.

​

13. Selection

How does the Fund determine which productions to include in the slate

The Fund applies a credit-first selection process focused on capital preservation and repayment certainty. Each project undergoes a full risk assessment prioritising financial architecture, secured pre-sales, validated distribution pathways, and robust contractual protections. We utilise independent market data to assess audience demand, territory values, and comparable performance indicators.The track record and delivery history of producers, lenders, and sales agents are reviewed to ensure all guarantees, completion protections, and collateralisation opportunities are in place. Only productions meeting the Fund’s criteria for security, liquidity, and repayment visibility are included.

​

14. Team

What is the track record of the investment team?​The investment team brings more than 50 years of combined experience across film finance, alternative investment funds, structured credit, governance, and capital markets.

​

Andrew Greenough — Director of Investment
Andrew leads the Fund’s investment strategy, origination network, and transaction execution. A specialist in high-value private placements and institutional film financing, he brings long-standing global relationships across studios, distributors, sales agents, producers, and financing counterparties. Since 2007, Andrew has focused on senior entertainment-lending transactions, building the industry access required to originate and structure opportunities backed by contracted revenue profiles. His role encompasses sourcing, credit evaluation, structuring, and negotiation, ensuring each facility aligns with the Fund’s disciplined, downside-focused lending approach.

​

Karl O’Reilly — Governance & Oversight
Karl has over 25 years of experience in the alternative investment funds industry, primarily in the Cayman Islands—one of the world’s leading offshore financial centres. He has served as an independent director for both emerging managers and multi-billion-dollar asset managers, providing fiduciary independence and rigorous governance. His previous roles include Vice President of Fund Governance at Citco Trustees (Cayman) Ltd., and Senior Manager at Admiral Administration (Maitland Group). Karl began his career with KPMG, specialising in audits of alternative investment funds and banks.

​

This blend of real-world film investment experience, alternative asset structuring, governance, fund administration, and institutional-grade oversight positions IFF with a track record that is both extensive and highly specialised for the film-finance sector.

​

​

Special Cases:
Special Note: Investment in Non-Pre-Sold Productions and Market-Tested Projects

The Fund may invest in productions that do not yet have pre-sales in certain territories, provided the project is supported by strong collateral or backing that fully underwrites capital risk. In such cases — whether sequels with market-tested IP, productions backed by reputable studios, or projects secured by robust contractual guarantees — the Fund proceeds only where investor capital remains protected.Each opportunity is assessed individually, weighing market demand, distribution pathways, collateral strength, and overall commercial viability. This discretion allows participation in high-quality projects while maintaining a conservative, security-focused risk posture.