SINGAPORE - Singapore investment company Temasek Holdings has bought a stake in entertainment and sports management and advisory firm Creative Artists Agency (CAA).
The strategic investment for an undisclosed sum will be used to further the agency's growth, including through acquisitions, CAA announced on Tuesday.
This follows an investment earlier this year by China's media and entertainment fund CMC, alongside Fubon Group, including Taiwan Mobile.
TPG Capital retains a majority position in CAA.
"As one the most successful and sophisticated investors in the world, Temasek provides an extraordinary level of insight and resources as we continue to provide the best opportunities for the company and our clients," said CAA president Richard Lovett.
"Today's announcement speaks to the incredible growth and relentless innovation across all areas of the agency. We have a combination of partners that provide global firepower for our continued success."
CAA advises blue-chip companies, including JP Morgan Chase, Intel, Bose, KPMG and IMAX, among others. The firm, which has a presence in China, recently formed AA China in partnership with CMC to expand opportunities for the agency and clients in the fast-growing region.
It said that its sports arm has more than 1,000 individual athlete, broadcaster and coaching clients, while its sports business manages more than US$37 billion in media rights transactions.