TPG is making a comeback in the talent industry with the launch of a new company that will focus on talent management, representation, and related industries. The private equity firm recently sold its stake in CAA to François-Henri Pinault and is now investing in a diversified global business centered on talent management. Michel Pratte, former President of Boat Rocker Media, will serve as CEO of the new company, with Eric Taitz as COO.
The new company’s first investment will be in Untitled Entertainment, a talent management firm led by Jason Weinberg and Stephanie Simon. Both will continue as co-CEOs of Untitled and will roll a significant portion of their equity into the new venture. TPG is also buying out Boat Rocker’s stake for $51.6 million CAD and will retain an 8.8% ownership in the new enterprise.
TPG’s move into the talent business marks a significant expansion into the entertainment industry following its exit from CAA. With $224 billion under management, TPG is leveraging its experience in partnering with industry leaders to create a robust talent representation company that empowers talent to achieve their career goals through proactivity and access to innovative tools in the evolving entertainment industry. The new venture aims to scale effectively and foster growth across various talent verticals through strategic investments that benefit managers and talent alike.
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