TPG has increased its investment in Creative Artists Agency to a majority position. The new investment provides additional capital and resources for continued growth. As part of this transaction, CAA’s senior management team will extend currently existing long-term employment contracts.
Creative Artists Agency (CAA) is an entertainment and sports firm that represents many of the most successful professionals working in film, television, music, sports, video games, theatre, and the Internet. The company also provides a range of strategic marketing and consulting services to corporate clients.
Founded in 1975, CAA is considered by many to be an industry innovator. CAA was the first to build a sports business, create an investment bank, launch a venture fund, found technology start-up companies, establish a presence in China and India, create a brand marketing services arm, and start a private equity vehicle. CAA is headquartered in Los Angeles, with additional offices in London, New York, Nashville, Beijing, and Switzerland (www.caa.com).
“There’s nothing like CAA,” said TPG co-founder Jim Coulter, whose firm has $66 billion of capital under management and initially invested in CAA in 2010. “CAA is an unrivaled industry leader, with an exceptionally talented and uncommonly stable management team. They have built their global and diversified platform through relentless innovation and a collaborative culture of client service. The company has had extraordinary growth across its divisions, alongside intelligent asset-building and principal investment strategies, and we are enthusiastic about the continued success ahead.”
TPG is a private investment firm founded in 1992 that makes investments throughout North America, Europe, Asia and Australia. Sectors of interest include industrials, retail, consumer, financial services, travel and entertainment, technology, media and communications, and healthcare. The firm has offices in San Francisco, Fort Worth, Austin, Beijing, Chongqing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, Paris, São Paulo, Shanghai, Singapore and Tokyo (www.tpg.com).
UBS and LionTree Advisors served as financial advisor to CAA and Wachtell, Lipton, Rosen & Katz served as legal counsel. Cleary Gottlieb Steen & Hamilton served as legal counsel to TPG.
2014 PEPD • Private Equity’s Leading News Magazine • 10-21-14
