(Reuters) - Liberty 77 Capital LP, a private equity fund set up by former U.S. Treasury Secretary Steve Mnuchin, has bought a 5.5% stake in Lions Gate Entertainment, according to a regulatory filing on Tuesday.
The buyout fund disclosed that it owns 4.5 million Class A shares of Lions Gate purchased for about $30.8 million.
Mnuchin has previously made investments in movies such as "Avatar", "Mad Max: Fury Road" and "Suicide Squad".
As part of the transaction, Liberty 77 can suggest changes or make proposals to Lions Gate or its board in terms of financial strategies and operations, the filing said.
Liberty Strategic Capital, which manages Liberty 77 Capital LP, is focused on investing in technology, financial services, fintech companies and firms that are involved in creating new forms of content.
Lions Gate, which is engaged in motion picture and television studio operations, declined to comment, while Liberty Strategic Capital offered no further comment beyond the filing.