NEW YORK, July 18, 2022 /PRNewswire/ -- Investcorp, a leading global alternative investment firm, today announced it has agreed to sell its stake in United Talent Agency ("UTA" or "The Company"), a global talent and entertainment company, to EQT Private Equity. The sale will represent a highly successful investment for Investcorp and its institutional investors.
As a leading champion of entertainers, content creators and artists, UTA partners with the most influential talent across sports, entertainment, media, and technology sectors and with major corporate brands. Investcorp invested in UTA in 2018 alongside the Public Sector Pension Investment Board (PSP Investments) and other institutional co-investors. Since Investcorp's investment, UTA more than tripled its EBITDA through exceptional organic growth and several strategic acquisitions driven by its mission of always providing clients outstanding service and staying at the forefront of the industry. Investcorp supported UTA's management team as they expanded their services and geographic footprint amid rapidly evolving innovation in content creation and distribution. The Company entered sports representation through its acquisition of KLUTCH Sports, digital influencer management through its acquisition of DBA and brand consulting through its acquisition of MediaLink. The Company also entered the European market through its recent acquisition of Curtis Brown Group.
"Our partnership with Jeremy Zimmer and the management team was outstanding and demonstrates our commitment to working closely with our companies to help them achieve their strategic objectives," said Dave Tayeh, Head of Private Equity – North America at Investcorp. "We are proud to have been part of UTA's consistent innovation and substantial growth over the past four years and we look forward to their continued success. Our North American Private Equity business will continue to invest in exceptional founder-led companies."
"Working with Investcorp and Dave Tayeh has been a great experience for the leadership at UTA," said Jeremy Zimmer, CEO and Co-Founder of UTA. "They have supported our growth in every way and were a thoughtful and steady hand as we navigated the pandemic. I'm grateful to them and look forward to achieving continued success in future partnerships."
"Over the past four years, UTA has continued to build on its best-in-class reputation and platform, and it has been a great pleasure to support them as they've evolved to meet the massive demand for quality content and creative talent in an increasingly digital world. We believe this remains an attractive industry and we look to build on our experience in future opportunities," added Steve Miller, Managing Director, Private Equity – North America at Investcorp.
Investcorp's Private Equity North America team has been investing in North American mid-market businesses for over 35 years. The firm has a deep history of investing in founder-led and professional services businesses like UTA.
The transaction is expected to close later this month.
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach. In January 2022, Investcorp issued its 2021 Responsible Business Report which outlines its Environmental, Social, and Governance (ESG) highlights for 2021 and specific initiatives the Firm implemented to meet its goals: https://www.investcorp.com/esg/.
Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. As of March 31, 2022, Investcorp Group had US $41.2 billion in total AUM, including assets managed by third party managers, and employed approximately 480 people from 50 nationalities globally across its offices.
UTA unites ideas, opportunities and talent. The company represents some of the world's most iconic, barrier-breaking artists, creators and changemakers—from actors, athletes and musicians to writers, gamers and digital influencers. One of the most influential companies in global entertainment, UTA's business spans talent representation, content production, as well as strategic advisory and marketing work with some of the world's biggest brands. Affiliated companies include Digital Brand Architects, KLUTCH Sports Group, Curtis Brown Group, and MediaLink. UTA is headquartered in Los Angeles with offices in Atlanta, Chicago, Nashville, New York and London.
More info: www.unitedtalent.com
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