Private equity firm TPG is re-entering the talent business with the launch of a new company that will focus on talent management, representation, and related industries. The company recently sold its stake in CAA to François-Henri Pinault and is now investing in a diversified global business centered on talent management.
TPG’s new venture will be led by Michel Pratte, former President of Boat Rocker Media, who will serve as CEO, with Eric Taitz as COO. The company’s first investment will be in Untitled Entertainment, a talent management firm led by Jason Weinberg and Stephanie Simon. Both will continue as co-CEOs of Untitled and will roll a significant portion of their equity into the new venture. TPG is also buying out Boat Rocker’s stake for $51.6 million CAD and will retain an 8.8% ownership in the new enterprise.
With $224 billion under management, TPG is leveraging its experience in partnering with industry leaders to create a robust talent representation company. According to Jacqui Hawwa from TPG Growth, collaborating with Untitled, which has a strong reputation and impressive roster of clients, presents an excellent opportunity to benefit managers and talent across various sectors of the entertainment industry. Pratte highlighted the need for proactivity and access to innovative tools in the evolving entertainment industry, stating that the new company will empower talent to achieve their career goals effectively while fostering growth across various talent verticals through strategic investments.
Overall, TPG’s move into the talent business marks a significant expansion into the entertainment industry following its exit from CAA. With the resources and capabilities to benefit managers and talent across different sectors of the entertainment industry, this new venture aims to scale effectively while driving growth through strategic investments across various talent verticals.