TPG Capital in Talks to Increase CAA Stake

TPG Capital is in talks to increase its stake in CAA and may even become a majority owner in the agency, according to an individual with knowledge of the discussions.

The private equity firm, which also invests in Virgin Entertainment, Uber and Robert Simonds’ new studio, currently has a 35% stake in the talent agency and first came on as a shareholder in 2010. TPG’s new investment could potentially raise its position to more than 50%. A deal may close as early as next week.

The New York Post first reported that negotiations were taking place.

It would be the first time an outside investor has a majority stake in the agency, which represents such elite talent as George Clooney, Daniel Craig, Will Smith, Cristiano Ronaldo and Jennifer Lawrence. Over the past decade, it has diversified beyond film and television and into sports talent, branding and rights deals, as well as investments in digital companies such as Funny or Die. The company is expected to use the additional funds to help fuel future growth and investment.

CAA’s leadership includes partners Richard Lovett, Bryan Lourd, Kevin Huvane and David O’Connor. If a deal closes, the company’s management is expected to stay in place.

Spokespeople for CAA and TPG declined to comment.

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