French billionaire Francois-Henri Pinault has acquired a majority stake in leading entertainment and sports agency Creative Artists Agency (CAA).
Artémis, the Pinault family’s investment company, has bought the majority stake in CAA from global investment firm TPG.
With assets of more than $40 billion, Artémis’ holdings include Kering, the luxury goods group that is home to Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen and Brioni; auction house Christie’s; the Pinault Collection of contemporary art; and Artémis Domaines, encompassing wine estates including Château Latour.
CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett have each made long-term commitments to continue leading the agency and will remain the Co-Chairmen of CAA.
Lourd is expected to be named Chief Executive Officer when the transaction completes, and Jim Burtson, who led the CAA deal team, will remain President of CAA.
“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 and Burtson.
“As a leader in its field with an outstanding management team, a crystal-clear focus on providing world-class service to world-class clients and a tremendous track record of growth, CAA has all the relevant characteristics to be part of the Artémis family, adding increased diversity, both in terms of geographical footprint and business activities, to our other assets,” said Francois-Henri Pinault, Artémis CEO.
Singapore-headquartered global investment firm Temasek will remain a minority investor in CAA. CMC Capital remains a CAA strategic partner.
CAA recently completed the acquisition and integration of global talent and sports agency International Creative Management (ICM).
The transaction is expected to be completed later this year. Financial terms were not disclosed.