(CelebrityAccess) – THR has reported that UTA has sold a significant equity stake to Investcorp and the Public Sector Pension Investment Board.
The news arrives shortly after UTA hired independent investment bank Moelis & Company to “help identify an investor that could fuel the agency’s expansion.”
UTA CEO Jeremy Zimmer said in a statement: “This is a transformative event for UTA. We were deliberate about finding the right investment partners who recognize UTA as a business that puts clients first, exemplifies a collaborative and diverse culture, and is focused long-term on capitalizing on the unique opportunities that disruption and transformation provide.”
In recent years, UTA has expanded its reach through the acquisition of specialized agencies such as N.S. Bienstock, The Agency Group, and Greater Talent Network. According to THR, the move is seen as cementing UTA’s status among Hollywood’s top three talent agencies.