Financial details of the deal were not disclosed. CAA said TPG Capital remains the majority owner of the powerhouse talent agency. Temasek’s investment comes on the heels of CAA selling a stake to China’s CMC Capital Partners earlier this year.
“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. “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.”
Temasek’s holdings include interests in AirBNB and China’s Alibaba Group.
The investments from CMC and Temasek are focused on driving CAA’s growth, possibly through acquisitions, CAA said. TPG first acquired 35% of CAA in 2010 and became the agency’s majority owner in 2014. The investments from CMC and Temasek represent new shares in the company and not a reduction in TPG’s stake.
Temasek was founded in 1974 and at present has an investment portfolio of $197 billion, most of it concentrated in Asia. Temasek and TPG have worked together on numerous deals, and that relationship helped bring Temasek into the CAA fold.