Singapore's Temasek buys stake in CAA

Singapore's Temasek buys stake in CAA

Singapore investment company Temasek has purchased a stake in CAA, the largest entertainment and sports agency in the world.

For those who are unfamiliar with CAA, they're a powerhouse agency based in California, and have a staggering portfolio of A-list celebrities like Leonardo DiCaprio, Matthew McConaughey and more, but they're not limited to actors and athletes. They're also responsible for dominating the music touring industry, having booked tours for Beyonce, Harry Styles, Kanye West, Lady Gaga, Radiohead and more. 

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The acquisition by Temasek comes hot on the heels of their last acquisition of streaming platform SoundCloud back in August. Temasek has a net portfolio value of close to US$200B including significant experience in telecoms, media and technology — among its portfolio companies are Alibaba Group and Airbnb.

While neither parties involved have disclosed the stake that Temasek has acquired or the price tag of the deal, it has been announced that TPG Capital retains its majority stake in CAA.

CAA president Richard Lovett has said of Temasek, "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. 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."