Solar Entertainment Group launches investment bank

SEG principals Jared Underwood [pictured] and Bobby Paunescu made the announcement on Tuesday [8] and said the venture would complement the recently launched Solar Media Capital.

Media and entertainment finance bankers Peter Hoffman and Alexandra (Sasha) Lloyd will lead Solar Entertainment HLB. Michael Blum will assume the role of chairman of Solar Entertainment HLB.

The new entity is based in New York, Los Angeles and London and will develop and implement capital-raising and investment strategies in media and entertainment on behalf of corporate and investor clients. The focus will be “proprietary and private transactions for investors who seek institutionalised access to the sector.”

Hoffman and Lloyd are former Goldman Sachs bankers who have been involved as lead advisors on more than $1bn of financing for clients, including FilmYard Holdings in the acquisition of Miramax in 2010 and Summit Entertainment’s recapitalisation in early 2011.

Blum is a former Merrill Lynch banker, as were Hoffman and Lloyd. He has overseen transactions involving Marvel Studios, ICM and Summit Entertainment.  

SEG investors include London-based investment bank LJ Group founder Edward Lawson Johnston; the New York-based Shu real estate and energy dynasty, and Paunescu and Underwood.

“This partnership complements the product offerings of Solar Media Capital [which launched in November 2012],” said Underwood. “Through Solar Entertainment HLB, SEG can now offer individual filmmakers, indie film companies, and the mini-major and major studios a full spectrum of financial products ranging from debt to equity, single picture to slate financing, and corporate financing to studio co-financing.

“Peter, Sasha, and Michael are the best investment bankers in the film industry with unparalleled track records, so Bobby and I couldn’t be more pleased to be their partners.”

“We’re delighted to partner with Bobby and Jared at SEG,” said Hoffman. “We’re also pleased that Michael Blum has joined as chairman. Michael’s relationships, deal-making judgment, and deep experience in the financial markets will be invaluable to the firm.

“Through SEG, we gain an international orientation, which positions us to remain at the forefront in organising and executing the next generation of deals in entertainment finance on behalf of our clients.”