Steven Mnuchin retains shopping for Lionsgate.
The previous banker and Treasury Secretary underneath President Trump has in the previous couple of weeks acquired one other $10 million or so in shares of leisure firm, bringing his stake to 11 %.
In accordance with a securities submitting, Mnuchin’s Liberty 77 Capital Companions acquired the shares between June 6 and June 17, at costs starting from $7.75 per share to $8.30 per share.
Mnuchin has been on a Lionsgate shopping for spree ever since initially disclosing a 5.5 % stake again in September. Earlier this yr he upped his stake to 7.9 %, with the brand new disclosure pushing him over the ten % threshold.
It’s nonetheless not solely clear what Mnuchin’s final objective is with Lionsgate, although a submitting says that the purchases had been “made for funding functions.” Lionsgate declined to remark and Mnuchin’s agency didn’t reply to a request for remark.
“Liberty Strategic Capital intends to evaluation such funding in Lions Gate on a unbroken foundation and, relying on Lions Gate’s efficiency and different market circumstances, improve or lower its funding place,” it continues.
Mnuchin raised $2.5 billion for his Liberty fund in 2021, with household places of work, insurance coverage firms and Saudi Arabia’s sovereign wealth fund among the many buyers. On the time Liberty mentioned it was eager about investing in firms creating “new types of content material.”
The banker can be a Hollywood veteran, together with a stint on the board of the the ill-fated studio Relativity Media, and as a producer on motion pictures like The Lego Film and Batman vs. Superman: Daybreak of Justice.