The investment will add to the studio’s existing funding, which includes up to $500m from Providence Equity Partners LLC and $300m in debt financing from Apollo Global Management.
The North Road Company, a global, multi-genre studio launched in 2022, has received a $150m investment from Qatar Investment Authority (QIA) to support its ongoing expansion strategies. This investment supplements North Road’s significant growth capital reserves, building upon the capital base provided at its launch, including up to $500m from longtime Chernin partner Providence Equity Partners L.L.C. and $300m in debt financing from Apollo.
A London-based international division focuses on global acquisitions and co-productions.
Qatar Investment Authority is the sovereign wealth fund of the state of Qatar. QIA was founded in 2005 to invest and manage state reserve funds.
In a statement, Peter Chernin, CEO of North Road, said: “QIA’s investment enables North Road to capitalise even further on the growing demand for premium, independent content. Building on the support from Providence Equity, we have already been able to bring together some of the highest-quality suppliers of film and TV content, led by some of the best creative executives in the business. This investment fuels our continuing strategy to expand via organic and inorganic growth initiatives globally,”
Mohammed Al-Sowaidi, QIA’s Chief Investment Officer of Americas, added: “QIA is delighted to support the expansion of the North Road Company, a market-leading media firm. This investment underpins our strategy to invest in innovative media and technology companies around the world and advances our long-term partnership with The Chernin Group.”
Davis Noell, Senior Managing Director of Providence Equity Partners, North Road’s lead investor, commented: “QIA is a valued, long-term partner, and we look forward to working with them alongside Peter and the North Road team. We continue to see a tremendous opportunity in a fragmented industry to build a leading global, independent content studio, and this additional capital will help us in our plans to continue to aggressively grow North Road and pursue strategic acquisitions.”
With initial investments from Providence and Apollo, North Road launched by combining top production companies across rapidly growing market segments under a shared banner. Chernin Entertainment, the longtime scripted film and TV powerhouse behind the Planet of the Apes trilogy, Ford V Ferrari, Hidden Figures, and New Girl, was joined in the portfolio by premium documentary outfit Words + Pictures, founded by the creators of 30 for 30, The Last Dance, and O.J.: Made in America. North Road also includes unscripted leaders such as Kinetic Content, Left Right Productions and 44 Blue, whose megahits include Love Is Blind, The Ultimatum, Married at First Sight, and The Circus; and a London-based international division focused on global acquisitions and co-productions, led by top executives Jan Frouman and Kristin Jones.
North Road currently has over 85 active productions in the works, including a new season of the cultural sensation Love is Blind, LUTHER, starring Idris Elba, Cynthia Erivo, and Andy Serkis, which will premiere on Netflix this spring, and a new season of Apple TV+’s Truth be Told, starring Oscar winner Octavia Spencer.
