TPG to sell majority stake in talent agency giant CAA to Artémis

• CAA’s Bryan Lourd, Kevin Huvane and Richard Lovett will continue to lead the agency and remain the co-chairmen of CAA
• The transaction is expected to be completed later this year
• Founded in San Francisco in 1992, TPG has $139 billion of assets under management

Artémis, the Pinault family’s investment company, has agreed to acquire a majority stake in Los Angeles-based talent agency giant CAA from TPG. No financial terms were disclosed.

Singapore-headquartered investment firm Temasek will remain a minority investor in CAA while CMC Capital remains a strategic partner.

CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett will continue to lead the agency and remain the co-chairmen of CAA. When the deal closes, Lourd will be named CEO of CAA while Jim Burtson will remain president.

“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 in a statement. “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 of more than $40 billion, Artémis’ holdings include Kering, the luxury goods group that is home to Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, and other luxury brands; and Christie’s, the world’s leading auction house.

Recently, CAA closed its acquisition and integration of global talent and sports agency International Creative Management and CAA Brand Management, a brand development and management firm for the world’s most iconic brands.

The agency’s merchant bank, Evolution Media Capital serves the media and sports sector; Connect Ventures, a joint venture with global venture capital firm New Enterprise Associates, 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.

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 Artémis, 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.

Founded in 1975, CAA is headquartered in Los Angeles.

Artémis was founded in 1992 by French entrepreneur François Pinault.

Founded in San Francisco in 1992, TPG has $139 billion of assets under management.