Following its $400m investment in English Premier League football, Abu Dhabi is aiming to become a top film producer and investor, with an initial investment of $1bn in productions in Hollywood, Bollywood and beyond. The funding, provided by Abu Dhabi’s government, will allow the Gulf state to back up to eight films a year over the next five years, Edward Borgerding, chief executive of the Abu Dhabi Media Company, told the FT. ADMC had set up a company, imagenation abu dhabi, to manage its film investments and would announce the first co-production partnerships within weeks, he said. Another Abu Dhabi state fund, ADUGDI, this week bought  Manchester City football club  for £200m. Abu Dhabi’s state investment funds have taken stakes in Ferrari, GE, Carlyle and Citigroup.

This entry was posted by Gwen Robinson on Wednesday, September 3rd, 2008 at 5:33 and is filed under Capital markets, People. Tagged with ADMC. Edit this entry.