After Selling CAA Stake, Private Equity Giant TPG Launching New Company in Talent Management and Representation Business

TPG is getting back into the talent business.

The private equity giant, which sold its stake in CAA last year to French billionaire François-Henri Pinault, is launching a new company that will “acquire, invest behind and build a diversified global business centered on talent management, representation and adjacent verticals.”

Michel Pratte, former President of Boat Rocker Media, will be CEO of the new company while another former Boat Rocker exec Eric Taitz will be COO.

TPG announced that the company’s first investment will be in the talent management firm Untitled Entertainment, led by Jason Weinberg and Stephanie Simon. The pair will continue as co-CEOs of Untitled, and will roll a significant portion of their equity into the new venture, alongside Boat Rocker, which was Untitled’s majority owner.

According to Boat Rocker, TPG is buying out most of its stake for $51.6 million CAD, and will retain an 8.8% stake in the new venture.

The new company is a fresh push into the talent business from TPG, now that it has exited CAA. WIth $224 billion under management, it has a lot of options.

“We see an opportunity to leverage TPG’s longstanding experience partnering with leading players in the space to create a talent representation company with the resources and capabilities to benefit managers and the talent they serve,” said Jacqui Hawwa, a business unit partner at TPG Growth. “Untitled has a strong reputation within the entertainment industry and an impressive roster of clients. Their team is an ideal first partner and we see a significant opportunity to scale the Company and ultimately collaborate across multiple complementary talent verticals with subsequent investments.”

“As the broader entertainment industry continues to evolve, a more complex landscape means more opportunities than ever for ambitious talent and their representatives,” added Pratte. “The future of representation increasingly requires relentless proactivity combined with access to world class tools that drive innovation and growth. This new Company will empower Untitled and a future group of complementary talent-centric businesses to harness the extraordinary talents of diverse clients on their journey to achieving their highest career ambitions.”