Private equity giant TPG, founded by David Bonderman, is re-entering the talent business with a new venture focused on acquiring, investing in, and expanding a global business centered on talent management, representation, and related verticals. The company aims to leverage its experience in the field to create a talent representation company that benefits both managers and the talent they serve.
TPG sold its stake in CAA last year to French billionaire François-Henri Pinault and now aims to create a new venture that will focus on building a diverse portfolio of companies in the talent industry. Michel Pratte, the former President of Boat Rocker Media, will serve as the CEO of the new company. Additionally, Eric Taitz, also a former executive at Boat Rocker, will be the COO.
The first investment of the new company will be in Untitled Entertainment, a talent management firm led by Jason Weinberg and Stephanie Simon. The pair will remain as co-CEOs of Untitled and will roll a significant portion of their equity into the new venture along with Boat Rocker, which is the majority owner of Untitled. With $224 billion under management, TPG has a breadth of options as it re-enters the talent business after exiting CAA.
The evolving entertainment industry offers new opportunities for ambitious talent and their representatives. According to Pratte, the future of representation requires proactive strategies and access to innovative tools for growth. The new company aims to empower Untitled and other talent-centric businesses to support a diverse group of clients on their path to achieving their highest career goals.
