Artémis, the Pinault family’s investment company, announced on Thursday that it has agreed to acquire a majority stake in the entertainment and sports agency Creative Artists Agency (CAA), previously held by the global investment firm TPG.
As part of the acquisition, CAA’s leadership will remain intact, with Bryan Lourd, Kevin Huvane, and Richard Lovett committing to long-term roles as co-chairmen of the agency. Lourd is expected to assume the position of chief executive officer upon the completion of the transaction. Additionally, Jim Burtson, who led the CAA deal team, will continue serving as president of CAA.
The transaction is expected to close later this year. Financial terms of the agreement were not disclosed.
CAA is well-known for its representation of talent and brands in various entertainment and sports sectors, including film, television, music, and sports. The agency recently completed the successful acquisition and integration of global talent and sports agency International Creative Management (ICM) and CAA Brand Management.
“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,” said Francois-Henri Pinault, Artémis CEO.
Jim Coulter, executive chairman and co-founder of TPG, added, “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.”
With consolidated assets exceeding $40 billion, Artémis boasts an impressive portfolio that includes Kering, the luxury goods conglomerate home to brands such as Gucci, Saint Laurent, and Balenciaga. Artémis also owns Christie’s, the world’s foremost auction house, the Pinault Collection, one of the largest private collections of contemporary art, and Artémis Domaines, which encompasses exclusive wine estates, including the renowned Château Latour.
“Artémis 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. François-Henri Pinault and his remarkable team, led by Héloïse Temple-Boyer and Alban Greget, share our vision for a future of limitless new opportunities,” said CAA’s Lourd, Lovett, Huvane and Burtson.
Singapore-headquartered global investment firm Temasek will maintain its role as a minority investor in CAA, while CMC Capital remains a strategic partner.
Copyright © 2023 FashionNetwork.com All rights reserved.