Chasing high returns and Hollywood dreams, hedge fund money managers are plunking down hundreds of millions of dollars to finance films like “Superman Returns” and “Nanny McPhee.” For entertainment lawyers, it’s an opportunity to shine in new supporting roles, with lucrative transactions and new clients who want a little glamour-by-association. But there are risks; the recent disaster remake “Poseidon” also spelled disaster for hedge-fund-backed Virtual Studios, which lost $50 million on their investment.
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Posted on Saturday, August 12th, 2006. Filed under: Business Law, Law Misc
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