Actor Rob Lowe is working with private equity firm Colony Capital to create a $500 million investment fund that will invest in entertainment properties, from television networks to sports teams, reports the New York Post’s Page Six.
Lowe is working with Colony Capital Chief Executive Tom Barrack. Neither he nor Lowe had comment, the story says. Colony Capital was the firm that helped photographer Annie Leibovitz restructure her debt earlier this year. Lowe and Barrack had dinner in London this week with Flavio Briatore, Guiseppe Cipriani and David Blaine to discuss the fund, the story says.
Lowe would be following in the footsteps of such celebrities as Simon Cowell, who formed a $1.6 billion entertainment company with Sir Philip Green.