TPG’s Majority Stake In CAA Acquired By Francois-Henri Pinault’s Artémis; Bryan Lourd To Be Named CEO
07.09.2023 - 17:21
/ deadline.com
Creative Artists Agency has a new majority owner in French billionaire Francois-Henri Pinault. After months of negotiations. Artémis, the Pinault family’s investment company, has agreed to acquire the majority stake in CAA that was previously held by global investment firm TPG.
No financials have been disclosed but the pact for the stake, said to be in the 50%-60% range, was previously reported to be in the $7B ballpark. The transaction is expected to be completed later this year.
CAA’s current leadership team will remain intact. Bryan Lourd, Kevin Huvane, and Richard Lovett have each made long-term deals and will remain the Co-Chairmen. Lourd, who has been increasingly taking on management responsibilities, is expected to be named CEO following the transaction, a new position at the agency. Jim Burtson, who led the CAA deal team, will continue as President.
Singapore-headquartered global investment firm Temasek and China’s CMC Capital will remain minority investors in CAA; I hear the sizes of their stakes may undergo adjustment in light of the transaction.
The deal closes a 13-year TPG chapter in CAA’s history marked with a series of acquisitions, most notably that of rival ICM Partners a year ago, while opening a new one.
“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