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Top Global Investment Firm to Become UTA’s Largest Outside Shareholder
Move Will Further Accelerate UTA’s Growth Trajectory
BEVERLY HILLS, Calif. and NEW YORK, July 18, 2022 /PRNewswire/ — Leading global talent, entertainment and sports company, United Talent Agency (UTA or the company), and global investment organization, EQT, today announced that the EQT X fund (EQT Private Equity) has agreed to become a strategic investor in UTA. The move recognizes UTA’s artist-first approach and recent growth trajectory and will help fuel the next phase of investments in talent, innovation and international expansion.
Under the transaction, the UTA partnership and leadership continue to hold the controlling interest in the company, with EQT becoming the largest outside shareholder. As part of the transaction, Investcorp, a global alternative investment firm, which invested in UTA in 2018, will sell its full minority stake to EQT, and EQT will also purchase a portion of existing stakes from continuing shareholders including PSP Investments.
Co-founded in 1991 by CEO Jeremy ZimmerUTA represents iconic talent across a broad range of categories including TV, film, music, sports, digital media, publishing, podcasts, and more. It also provides advisory and marketing services to leading global brands. UTA has undergone a dramatic strategic expansion over the past few years, including the acquisition of top European publishing and talent agency, The Curtis Brown Group, in June of this year, and the purchase of MediaLink, the leading strategic advisory firm for entertainment and media companies, in December 2021. The company also vaulted into the upper echelon of sports representation through its 2019 strategic investment in KLUTCH Sports Group. Over four years, the number of employees at the company has almost doubled to nearly 1,900 employees.
Media and entertainment continue to benefit from long-term tailwinds such as increased content distribution platforms, including streaming and the globalization of content and fandom. UTA sits at the nexus, uniting ideas, opportunities, and talent across its growing …
Full story available on Benzinga.com
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