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Wednesday, June 29, 2005

Others People's Money

Con las tasas a niveles históricamente bajos, los inversionistas están teniendo problemas para encontrar retornos atractivos. Posibles burbujas en bienes raíces, fondos privados, acciones y mercados emergentes complican aún más el escenario. Por lo mismo han sido surgido creativos mecanismos de inversión en EEUU.

El caso de Hollywood y la "Guerra de los Mundos" un ejemplo, acogiendo inversionistas sofisticados con mecanismos de securitización ¿No habrán industrias intensivas en capital en Latino América que puedan aprovechar esta oportunidad?

Wall St grabs starring role in Hollywood saga
By Richard Beales in New York
Financial Times

Paramount Pictures and DreamWorks are not the only ones hoping for a blockbuster performance by War of the Worlds, the science fiction epic that goes on general release worldwide on Wednesday. Banking on the film's success alongside the studios is an unusual group by Hollywood standards: financiers, who get no screen credit and may not even brag about their involvement at parties.

Paramount, a subsidiary of Viacom, raised $230m last summer to fund part of the cost of every film the studio makes for up to three years. The money came from Wall Street, with the investment packaged into various types of securities to attract banks, insurance companies and hedge funds.

“[This type of highly structured transaction] is where the trend is in Hollywood finance,” said Michael Blum, head of global asset-based finance at Merrill Lynch, which arranged Paramount's deal.... continued