Capital Program
MatchCut Fund
A closed-end Australian wholesale unit trust. One fund, two strategies — choose Incentive, Equity, or both.
Two strategies
One fund, two unit classes under a single trust deed. Investors can participate in either strategy, or both.
MatchCut: Incentive
Senior secured lending against Australian screen-production rebates.
Senior secured lending advanced against Australia’s statutory screen-production rebates. The Fund’s exposure is secured against the rebate receivable, providing contractually supported repayment that is not dependent on the commercial performance of the film.
- Senior secured position
- Repayment from statutory rebate receivable
- Not exposed to box-office or distribution outcomes
MatchCut: Equity
Hybrid capital: senior recoupment preference plus measured upside.
Hybrid capital combining senior recoupment economics with measured upside exposure. The structure operates in two phases of the project SPV recoupment waterfall: a Recoupment phase, in which the Fund’s senior payout preference is recouped from gross receipts; and a profit distribution phase, in which the Fund participates pari passu pro rata in the Equity Profit Pool.
- Senior payout preference recouped from gross receipts
- Pari passu pro rata participation in the Equity Profit Pool
- Upside aligned with project performance
Investment Strategy
The MatchCut Fund is a specialist multi-strategy wholesale fund focused on entertainment and film finance. The fund deploys capital across the full screen value chain — from development and single-project production equity, through to senior debt secured by pre-sales and tax credits, mezzanine and gap facilities, and distribution-linked structures including P&A advances.
The multi-strategy mandate allows the investment committee to select the appropriate capital position for each opportunity, rather than forcing every deal into a single product structure. Equity positions are taken where the package, team and market opportunity justify dedicated investment. Senior and mezzanine debt is extended where security coverage, waterfalls and intercreditor terms meet the fund’s credit framework. Distribution-linked structures are layered on top when they unlock additional value for the underlying film.
The Fund is designed for allocators seeking diversified exposure to screen assets within a disciplined credit framework. Every deal passes a written credit memo reviewed by the investment committee, which combines institutional credit experience with line-production and distribution expertise. The Fund targets net IRRs consistent with private credit and growth equity allocations, with a defined hold period and semi-annual investor reporting.
Investor relations
Request the information memorandum.
Full strategy, fee disclosure and terms are available to eligible wholesale clients under NDA.