SINGAPORE (VIP-NEWS) — Temasek, the sovereign wealth fund out of Singapore, has made a strategic investment in CAA.
The partners said that the capital will be used to further the expanding Hollywood agency’s growth, including through acquisitions.
The news follows an investment by China’s CMC last April which paved the way for the formation of CAA China.
“As one the most successful and sophisticated investors in the world, Temasek provides an extraordinary level of insight and resources as we continue to provide the best opportunities for the company and our clients,” said CAA President Richard Lovett (pictured).
“Today’s announcement speaks to the incredible growth and relentless innovation across all areas of the agency. We have a combination of partners that provide global firepower for our continued success.”
When CAA unveiled its China deal in April, Lovett told Deadline, “Now we are going to supercharge our efforts, we now have our local partner and have access and to CMC Capital. The next version will give us the ability to tap into CMC’s resources and talent to take on production as well as talent.”
The deals are part of a surge in offshore investments in the major agencies as they expand globally amid a rapidly changing landscape. In August, Silver Lake Partners, which owns a significant stake in WME | IMG, said that agency would receive a $1B investment from The Canada Pension Plan Investment Board and GIC, another Singaporean sovereign wealth fund.