Please wait...
Please wait...

UK investment firm Centricus acquires majority stake in SK Global

Crazy Rich Asians and Delhi Crime producer SK Global has been acquired by London-based investment firm Centricus.

Charlie Corwin

With the majority acquisition, Centricus will look to accelerate SK Global’s growth by providing additional capital so that it can acquire IP and make other acquisitions. Financial terms were not disclosed.

Charlie Corwin will oversee SK Global as the sole CEO, including corporate expansion and operations. John Penotti, who was formerly co-CEO with Corwin, has been named chief creative officer with a focus on global film and TV. SK Global co-founder Sidney Kimmel will remain chairman and Matt Aragachi will remain chief financial officer.

The deal comes eight months after US-based SK Global acquired US unscripted producer Critical Content, which is behind hits such as MTV’s Catfish.

“With the rapid expansion of platforms and theatrical releases around the world, this is a unique time of great opportunity for independence at scale. We look forward to working with the Centricus team, who share our vision for a truly global independent studio,” said Corwin.

Penotti added: “Our strategy has been to invest in the rights to culturally relevant stories such as Kevin Kwan’s Sex and Vanity, Thai Cave Rescue and Crazy Rich Asians, and then partner with the best talent to bring these stories to a global audience.

“This new ownership will drive our continued investment in franchise IP, A-list talent, and strategic acquisitions in the US and around the world.”

Centricus oversees more than US$40bn of assets across technology, financial services, infrastructure and consumer, media, entertainment and sports.

Josh Purvis, partner and chief operating officer at Centricus, said the deal represents an “important investment in the media sector” for the company.

He added that it plans to “continue investing in that vision through the financing of both content and acquisitions in this fast-growing space.”

SK Global’s recent credits include Thai Cave Rescue, which premiered on Netflix earlier this month, as well as upcoming film-to-TV adaptations 9 1/2 Weeks and Hell or High Water.


Please wait...