Metropolitan Entertainment has found a deep-pocket financial backer in Plainfield Asset Management and expects to significantly expand its profile.
Metropolitan co-CEO John Scher was mum on the amount of money Plainfield has invested into his company, but mentioned the investment firm’s $2 billion in investment capital.
"We’ve got the opportunity now to look at any sized deal in the entertainment world," Scher told Pollstar. "There are none too small and, in all likelihood, there are none too big."
Plainfield is now a minority owner of Metropolitan.
Scher touted the alliance as a springboard for the company’s new look for the 21st century and is planning to entertain some deal offers at the Concert Industry Consortium.
"We are still interested in collaboration by the way," he said. "We think there are partnerships with other companies both big and small that sometimes make the most sense but they’ll have to be sensible deals."