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The investment from state-owned holding company Temasek is testament to CAA's "relentless innovation", says president Richard Lovett
By Jon Chapple on 26 Sep 2017
Temasek Holdings, a sovereign wealth fund in Singapore, has made a “strategic investment” in Creative Artists Agency (CAA).
The investment from Temasek – a state-owned holding company whose portfolio is worth around S$275 billion (US$200bn) – will be used to further CAA’s “tremendous growth, including by acquisitions”, the agency said today. Terms of the deal were not disclosed, although TPG Capital remains CAA’s majority owner.
Temasek’s other investments in media and entertainment include Alibaba, SoundCloud and broadcaster Mediacorp.
“Today’s announcement speaks to the incredible growth and relentless innovation across all areas of the agency”
“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,” comments 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.”
The buy-in from Tamesek follows April’s minority investment by CMC Capital Partners, which led to the creation of a dedicated Chinese division for the agency.
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