Private equity firm TPG is set to launch a new talent management company that will focus on proactive representation and innovative tools to help talent achieve their career goals. TPG recently sold its stake in CAA, which has paved the way for this new venture. With $224 billion under management, TPG is leveraging its experience in partnering with industry leaders to create a robust talent representation company.
TPG’s first investment in the new venture 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. The private equity firm is also buying out Boat Rocker’s stake for $51.6 million CAD and will retain an 8.8% ownership in the new enterprise.
Michel Pratte, former President of Boat Rocker Media, will serve as CEO of the new company, with Eric Taitz as COO. The CEO emphasized 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. The move into the talent business marks a significant expansion into the entertainment industry following its exit from CAA. With strategic investments across various talent verticals, the new venture aims to scale effectively and foster growth in the entertainment industry.
Overall, TPG’s move into the talent business marks an exciting opportunity to partner with industry leaders and create a robust talent representation company that empowers talent to achieve their career goals effectively while fostering growth across various industries within entertainment.
