Creative Artists Agency (CAA), the world's leading entertainment and sports agency, and Artemis, the Pinault family's investment company, announced today that Artemis has agreed to acquire a majority stake in CAA, previously held by global investment firm TPG.
With consolidated assets of more than $40 billion, Artemis' holdings include, among others, Kering, the luxury goods group that is home to Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, and other luxury brands; Christie's, the world's leading auction house; Pinault Collection, the world's largest private collection of contemporary art and Artemis Domaines, encompassing a collection of the most exclusive wine estates, including Chteau Latour.
CAA's Bryan Lourd, Kevin Huvane, and Richard Lovett have each made long-term commitments to continue leading the agency and will remain the Co-Chairmen of CAA. Lourd is expected to be named Chief Executive Officer upon the consummation of the transaction, and Jim Burtson, who led the CAA deal team, will remain President of CAA.
'Artemis is a strategic investor of the highest order, with global reach and resources across countless areas of our clients' interests, a deeply sophisticated understanding of global brands and how to support their growth, and a passion for creativity and innovation that matches ours and that of our clients. Francois-Henri Pinault and his remarkable team, led by Heloise Temple-Boyer and Alban Greget, share our vision for a future of limitless new opportunities,' said CAA's Lourd, Lovett, Huvane and Burtson. 'We are enormously grateful to TPG for their strategic expertise, invaluable support, and friendship over 13 years. We enjoyed tremendous growth and success together and look forward to continuing to collaborate on projects ahead.'
'As a leader in its field with an outstanding management team, a crystal-clear focus on providing world-class service to world-class clients and a tremendous track record of growth, CAA has all the relevant characteristics to be part of the Artemis family, adding increased diversity, both in terms of geographical footprint and business activities, to our other assets,' said Francois-Henri Pinault, Artemis CEO. 'CAA's exceptional insight, relationships, and access across key sectors, combined with their widely regarded level of collaboration and innovation, gives the company a formidable role in driving global opportunities for its diverse and culture-defining clients. We look forward to supporting the agency's very bright path ahead.'
'It's been a privilege to partner with CAA during one of the most exciting periods of innovation and transformation across the media and entertainment industry,' said Jim Coulter, Executive Chairman and Co-Founder of TPG. 'CAA has dramatically expanded its platform over the past 13 years and today operates as the premier gateway for leading talent and content creators globally. This has been a hallmark partnership for our firm, and we wish the team continued success in its next chapter.'
Singapore-headquartered global investment firm Temasek will remain a minority investor in CAA. CMC Capital remains a CAA strategic partner.
CAA is a category-defining leader in the representation of talent and brands in entertainment, sports, and beyond. The company recently completed the successful acquisition and integration of global talent and sports agency International Creative Management (ICM) and CAA Brand Management, a leading brand development and management firm for the world's most iconic brands.
From film, television, theatre, music, video games, publishing, and podcasts, to endorsements, speakers, fashion, the influencer economy, and more, CAA represents popular culture's most influential stars and emerging talent. CAA Sports, named the world's most valuable sports agency by Forbes for nine consecutive years, works on behalf of thousands of the leading athletes, coaches and broadcasters in soccer, basketball, football, baseball, and hockey, and provides blue-chip corporate clients advisory services in brand marketing, media rights, sponsorship and property sales, licensing, venue development, and executive search.
The agency's merchant bank, Evolution Media Capital (EMC), serves the media and sports sector; Connect Ventures, a joint venture with global venture capital firm New Enterprise Associates (NEA), invests in early-stage consumer-focused businesses; the agency's brand incubator, Caravan, builds consumer companies alongside artists and athletes and its subsidiary EBG is a leading e-commerce solutions provider of corporate entertainment and travel, with more than 40,000 clients and 100 million users.
The transaction is expected to be completed later this year, subject to the satisfaction of customary closing conditions. Financial terms were not disclosed.
Allen & Company LLC served as financial advisor to CAA, and Wachtell, Lipton, Rosen & Katz served as legal counsel. Rothschild & Co served as financial advisor to Artemis, and Cleary Gottlieb Steen & Hamilton LLP served as legal counsel. Ropes & Gray LLP served as legal counsel to TPG. Sullivan & Cromwell LLP served as legal counsel to Temasek.
About Creative Artists Agency
Creative Artists Agency (CAA) is a leading entertainment and sports agency, with global expertise in filmed and live entertainment, digital media, publishing, sponsorship sales and endorsements, media finance, consumer investing, fashion, trademark licensing, and philanthropy. Distinguished by its culture of collaboration and exceptional client service, CAA's diverse workforce identifies, innovates, and amplifies opportunities for the people and organizations that shape culture and inspire the world. Founded in 1975, CAA is headquartered in Los Angeles, with offices in New York, Nashville, Memphis, Chicago, Miami, London, Munich, Geneva, Stockholm, Singapore, Shanghai and Beijing, among other locations globally. For more information, please visit www.caa.com.
About Artemis
Artemis was founded in 1992 by French entrepreneur Francois Pinault. Artemis is a holding company which manages a range of companies and holds shares in various sectors, in France and abroad. For over 20 years, Artemis has been the controlling shareholder of the global luxury group Kering. Artemis also owns Christie's, the worldwide leading auction house, several exclusive wine estates including Chteau Latour, rated a 'Premier Cru Classe' since 1855, the largest collection of contemporary art in the world and holds several other assets such as Ponant and Stade Rennais FC. It is also a significant shareholder of the sports brand Puma. As a professional shareholder, Artemis is focused on long-term growth and shareholder value creation, while remaining on the watch for new investment opportunities. Artemis' consolidated assets exceed 40 billion euros.
About TPG
TPG (Nasdaq: TPG) is a leading global alternative asset management firm, founded in San Francisco in 1992, with $139 billion of assets under management and investment and operational teams around the world. TPG invests across five multi-strategy platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.
About Temasek
Temasek is a global investment company with a net portfolio value of S$382 billion (US$287b) as at 31 March 2023. Our Purpose 'So Every Generation Prospers' guides us to make a difference for today's and future generations. As an active investor, forward looking institution and trusted steward, we are committed to deliver sustainable value over the long term. Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody's Investors Service and S&P Global Ratings respectively. Headquartered in Singapore, we have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
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