According to the Los Angeles Times, STX Entertainment, the studio known for films such as 'The Upside' and 'I Feel Pretty,' has raised $700 million in new capital.

The new funds are a combination of equity and refinancing of debt. The round was led by TPG Growth and Chinese private equity firm Hony Capital.

STX is an American entertainment and media company that creates, produces, distributes, finances and markets film, television and digital media, which includes live events and virtual reality. The company was founded in 2014 by film producer Robert Simonds and Bill McGlashan.