Gopher Asset And Perfect World Pictures To Launch $300M Entertainment Fund

Gopher Asset Management has partnered with Chinese online game developer Perfect World Pictures Co., Ltd. to launch an investment fund targeting RMB2 billion to invest in entertainment and cultural projects, according to a securities filing.

A unit of Perfect World Pictures will commit RMB500 million to the fund, while Gopher Asset Management will be responsible for raising the remaining RMB1.5 billion.

The investment vehicle will focus on building up a strong global intellectual property portfolio by acquiring premium entertainment assets and seeking partnerships with top cultural firms, says the filing.

In February, Perfect World Pictures agreed to invest US$250 million in slate financing to Universal Pictures.

Gopher Asset Management is a unit of U.S.-listed Chinese wealth management firm Noah Holdings Ltd. It specializes in private equity fund-of-funds, real estate fund-of-funds and secondary investments.