Former INVESCO/Chancellor/Citigroup Managing Director and Two Hollywood Veterans to Form New Film Fund
$1 Billion Target for Private Equity New Film Fund
Greenwich, CT (Select Film Fund) April 17, 2007 -- Tony Reynolds announced today that a former Invesco/Chancellor/Citigroup managing director has joined as Managing Director of a newly formed private equity film fund to lead its financial initiatives. And, two Hollywood veterans joined him to source investment opportunities for the fund.
Reynolds, who originally created the concept of the fund, is targeting the fund at $1 billion in size and has named it the "Select Film Fund."
David Areson was a managing director of sales at Invesco/Chancellor/Citigroup where he ran the top producing financial institutions sales team.
"David has both the marketing skills necessary for us to reach our goal of a $1 billion fund and the legal background to steer us through the many financial issues related to fund," Reynolds said.
The primary objective of the fund is to finance 10 different slates of 10 successful full-length feature films. The fund will invest in low-risk (minimal investment) and high profit potential films. Instead of financing slates with major studios, the fund will work directly with producers and other talent.
Reynolds also announced that Desiree Jellerette and K. Snyder have joined him bringing an incredible amount of Hollywood experience and relationships to the fund concept.
Jellerette has "Coordinated," "Production Managed" and "Line Produced" films with budgets from $500,000 to $40 million. She has worked directly with Spike Lee, Jason Alexander, M. Night Shayamalan, Ernest Dickerson, Leslie Harris and Julian Schnabel. She also "Production Managed" film shorts with "Saturday Night Live" for the weekly show and has created videos with E40, Ice Cube, Mobb Deep, Shaquille O'Neil, Master P and other stars in both rap and film. Jellerette has a Business and Marketing degree from Cornell University and attended Columbia University's Graduate School of Film.
In 1992, Snyder started working for his cousin, Grammy award winning rapper Will Smith, and the television show the "Fresh Prince of Bel-Air" where Snyder participated in the weekly production of more than 75 episodes. He contributed to the pilot of the Oscar award winning actor Jamie Foxx's the "Jamie Foxx Show." In addition, Snyder was head monologue writer for Emmy award winner Keenan Ivory Wayan and was a writer and producer for BET's "Comic View." He was a segment producer and creative team member of MTV's "Lyricists Lounge Show" and was a freelance writer for Martin Lawrence's show, "Martin." Snyder attended Virginia Commonwealth University.
Areson had worked at Invesco/Chancellor/Citigroup for more than 15 years. Areson is also a lawyer by training, having worked at the Internal Revenue Service (I.R.S.) and the Wall Street law firm Simpson, Thacher & Bartlett. Areson holds a bachelor's degree in mathematics, master's degree in business, law degree and master of laws degree in taxation.
Agents with scripts that have attached talent can contact the fund via Desiree Jellerette or K. Snyder by email at submit@selectfilmfund.com. They are accepting film scripts, plays and film soundtracks and all relevant ancillary products.
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