French tycoon’s firm secures majority stake in CAA

Artémis, an investment firm led by billionaire French businessman Francois-Henri Pinault, has acquired TPG’s majority stake in Creative Artists Agency (CAA).

Financial details have not been disclosed but Bloomberg previously reported the deal would value the leading sports and entertainment agency at US$7 billion (€6.2bn). Private equity company TPG upped its 35% stake in CAA to 53% for a reported $225 million in 2014.

CAA’s Bryan Lourd, Kevin Huvane, and Richard Lovett will remain co-chairs in the wake of the agreement, with…

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