NEW YORK (CelebrityAccess) — United Talent Agency has acquired an equity stake in investment bank AGM Partners in a bid to find alternative ways to grow both firms.
According to the Wall Street Journal, the two companies described the deal as a "strategic alliance" that will allow UTA and its clients to utilize AGM Partners in guidance on business agreements and other financial services.
As a part of the transaction, UTA will also have access to AGM for principal investing opportunities as they expand upon their own investment capabilities, the WSJ said.
The financial terms of UTA's stake in AGM Partners was not disclosed. The New York-based AGM Partners is led by Alan Mnuchin, brother to newly-minted US Treasury Secretary Steven Mnuchin.
Among the publicly disclosed deals the investment bank has advised on are the recent acquisition of SESAC by the Blackstone Group, the 21st Century Fox agreement with private equity firm Apollo and the leveraged buyout and subsequent sale of Warner Music Group to Access Industries, according to Deadline. – Staff Writers