×
You will be redirected back to your article in seconds

Singapore’s Temasek Acquires Stake in CAA

Singapore-based investment giant Temasek has taken a stake in CAA.

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.

More Biz

  • Jeremy Vuernick

    Capitol Music Group Promotes Jeremy Vuernick to Executive VP of A&R

    Jeremy Vuernick has been promoted to Executive Vice President of A&R for Capitol Music Group, it was announced today by CMG COO Michelle Jubelirer and president Ashley Newton. In his elevated position, Vuernick will draw upon his broad experience as an A&R executive to sign and develop artists for the company, as well as oversee recording projects for new and [...]

  • Darnell Strom

    Darnell Strom to Lead UTA's Newly Created Culture and Leadership Division

    Darnell Strom has joined UTA and is set to lead its newly created Culture and Leadership division. Strom will represent and work with existing and new UTA clients who want to expand their diverse businesses and cultural influence at the intersection of entertainment, media, entrepreneurship, politics, the arts, and thought leadership. Strom brings years of [...]

  • Editorial use only. MANDATORY CREDIT: PARLIAMENTARY

    British Lawmakers Reject Prime Minister's Brexit Plan, Heightening Uncertainty

    British lawmakers have resoundingly rejected Prime Minister Theresa May’s terms for the U.K.’s withdrawal from the European Union, heightening the country’s sense of uncertainty and paralysis less than two months before the exit is supposed to take effect. Parliament rejected May’s Brexit plan by a 432-202-vote Tuesday evening, one of the biggest parliamentary defeats in [...]

  • Dan Cohen nonesuch records

    Nonesuch Promotes Dan Cohen to Senior VP of Marketing

    Dan Cohen has been named Nonesuch Records’ senior vice president of marketing, the company announced today. In his new role, Cohen oversees marketing, sales, publicity, new media, and content creation for the long-running Warner Music Group label. Cohen reports to Nonesuch President David Bither and is based at the label’s headquarters in New York. Cohen [...]

  • hollywood debt

    Can Hollywood's Biggest Media Companies Avoid Getting Crushed by Debt?

    Randall Stephenson, AT&T’s chairman-CEO, summoned all of his folksy Oklahoma earnestness as he made an enthusiastic pitch to Wall Street analysts about the telephone company’s bold efforts to transform itself into a multimedia powerhouse. It was late November, less than six months after AT&T had wrapped up its $85 billion acquisition of Time Warner. But [...]

  • Brexit

    U.K. Faces Loss of Standing in Global Entertainment Biz Following Brexit

    For 18 months, the U.K. entertainment industry — along with everyone else in the country — has anxiously awaited the outcome of the British government’s divorce negotiations with the European Union. The matter comes to a head Jan. 15, when Prime Minister Theresa May takes the withdrawal deal hammered out with the EU to the [...]

  • Disaster Artists

    James Franco Settles 'Disaster Artist' Suit From Ex-Student

    James Franco has settled a lawsuit filed last year by a former student who said he wrote several early drafts of “The Disaster Artist.” Ryan Moody filed suit in March, alleging that he was swindled into giving up the rights to his work for just $5,000. Moody sued Franco’s company, Rabbit Bandini Productions, and Seth [...]

More From Our Brands

Access exclusive content