TPG in its Investment in Creative Artists Agency
October 6, 2010
Cleary Gottlieb represented TPG in its acquisition of a 35% non-controlling interest in Creative Artists Agency (CAA), the world’s leading entertainment and sports agency. CAA represents many of the most successful professionals working in film, television, music, sports, video games, theatre, and the Internet, and provides a range of strategic marketing and consulting services to corporate clients. As part of the transaction, the managing partners of CAA entered into new, long-term employment agreements, and three TPG professionals, including co-founder Jim Coulter, joined a restructured CAA board. CAA and TPG also announced a commitment to create a $500 million pledge fund, providing access to significant capital for future investments.