LOS ANGELES (CelebrityAccess) — United Talent Agency on Tuesday announced that it had two new “strategic” minority partners, Investcorp and the Public Sector Pension Investment Board (PSP Investments).
According to UTA, the influx of capital from the two investments will be used to accelerate growth, as well as bolster services for their clients.
Over the past year, UTA has made acquisitions in the live speaking, electronic music, and e-sports and gaming businesses and has taken an equity stake in Core, recently renamed Industrial Media, which this year successfully relaunched American Idol. The agency has expanded as well, and over the past five years, it has more than doubled in size to more than 900 employees.
Investcorp and PSP Investments join existing investor Jeffrey Ubben as UTA’s capital partners. Investcorp is a provider and manager of alternative investments, with more than $22 billion in assets under management with experience investing globally across a diverse range of industries, including retail and consumer products, business services, technology, real estate, industrials and more.
PSP Investments is one of Canada’s largest pension investment managers with assets under management of $119 billion USD as of March 31, 2018 invested across 75 industries and more than 100 countries.
Financial terms will not be disclosed, but UTA’s partnership maintains majority ownership and control of the company.