Elliott Associates is in the business of motion pictures. The New York hedge fund, which manages $10 billion, has agreed to help finance a significant portion of the movies released by Universal Pictures. In a new venture with Los Angeles creative agency Relative Media, Elliott will co-finance about 75% of Universals motion pictures through 2011. Jesse Cohn, who manages Elliotts relationship with the new partnership, called Relativity Capital, said that Universals track record and focus on profitability was the motivating factor. This is exactly the deal we have been waiting for.