LOS ANGELES (CelebrityAccess) — After months of rumor and speculation, Creative Artists Agency announced that Artémis, the Pinault family’s investment company, will acquire a majority stake in the global talent agency that was previously held by private equity giant TPG.
According to CAA, Bryan Lourd, Kevin Huvane, and Richard Lovett have made “long-term commitments” to continue in their leadership roles, remaining co-chairs of CAA.
Following the close of the transaction, Lourde is expected to be named Chief Executive Officer of the agency, and Jim Burtson, who led negotiations for CAA, will continue in his role as agency President.
“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. “We are enormously grateful to TPG for their strategic expertise, invaluable support, and friendship over 13 years. We enjoyed tremendous growth and success together and look forward to continuing to collaborate on projects ahead.”
“As a leader in its field with an outstanding management team, a crystal-clear focus on providing world-class service to world-class clients, and a tremendous track record of growth, CAA has all the relevant characteristics to be part of the Artémis family, adding increased diversity, both in terms of geographical footprint and business activities, to our other assets,” said Francois-Henri Pinault, Artémis CEO. “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.”
“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. “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.”
Following the acquisition by Artémis, Temask, an investment company backed by Singapore, will continue to be a minority stakeholder in CAA.
The deal, which is subject to customary closing conditions, is expected to close by the end of 2023. The financial terms of the transaction were not disclosed.
Following the closing of the deal, CAA will join Artémis’ $40 billion dollar portfolio that includes luxury brands such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, as well as the auction house Christie’s and the Pinault Collection, the world’s largest private collection of contemporary art.
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.
