UTA gets private equity investment from EQT for fuel expansion – Billboard

A fund run by private equity firm EQT Partners has made a strategic investment in talent agency UTA, in a deal the agency says “will help drive the next phase of talent investing.” , innovation and international expansion.”

EQT will become the largest outside shareholder in UTA in the acquisition, which will also see the company buy back shares from a number of existing UTA investors, including Investcorp and PSP Investments. UTA partners and leaders will remain the agency’s controlling shareholders.

Specific terms of the deal, including pricing, were not disclosed. However, everyone at UTA is expected to benefit financially from the investment.

UTA has conducted some sort of acquisition in recent months, acquiring strategic consulting firm MediaLink, UK Literature and Talent Agency Curtis Brown Group, and data and analytics company MediaHound. The new funding will “support UTA’s continued growth plans, driving further growth through investments in its core business areas as well as expansion into neighboring opportunities.” ,” the company said when announcing the deal. In other words, it is not yet fully developed.

The new UTA shareholder showcases what has been a blockbuster year for major talent agencies. Endeavor, owner of WME, to the community in an IPO in April 2021 and has been acquiring smaller companies to bulk up since then. Then last month, CAA complete its acquisition of ICM Partners, forming a representative organization.

CAA, WME, and UTA are now the obvious “Big 3” talent agencies, with Endeavor currently offering a market cap of $10 billion (including other divisions like UFC) and CAA holding value regulated business is $5 billion. The combined CAA-ICM has 3,200 employees, while UTA currently has about 1,900 employees.

“EQT is the perfect partner for UTA’s next phase of growth,” said UTA CEO Jeremy Zimmer in a statement. “They have deep international capabilities, strong balance sheets, and most importantly, they really appreciate and respect the culture we have built at UTA. David Kramer and I led this process, and we made sure to listen to our instincts about the people we felt would really help us advance while preserving our culture. We believe we have found the right partner to maintain that balance.”

EQT, based in Stockholm, Sweden, currently has €77 billion in assets under management across 36 active funds. UTA’s investment is in the EQT X. fund, which has a target size of €20 billion.

“EQT invests in industry-leading platforms that are well positioned for strong and sustainable growth across economic cycles, aligned with our values ​​and where we know we can make significant value – UTA checks all the boxes,” said Kasper Knokgaard, EQT partner and global head of the service sector group. “We are excited to partner with Jeremy Zimmer and the entire team to accelerate UTA’s trajectory and create more opportunities across entertainment and media.”

This article was originally published by The Hollywood Reporter.

https://www.billboard.com/pro/uta-private-equity-investment-eqt-partners/ UTA gets private equity investment from EQT for fuel expansion – Billboard

Fry Electronics Team

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