Singapore-based investment company Temasek has taken a stake in Creative Artists Agency, the companies announced Tuesday.
The investment will provide capital to help fund growth at the agency through further acquisitions. The companies did not disclose the size of the stake, but CAA said TPG Capital retains its majority position in the company.
“As one of 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,” CAA President Richard Lovett said in a statement.
The Temasek investment follows the stake taken earlier this year by China’s leading media and entertainment fund, CMC. With that deal, CAA and CMC partnered to form CAA China, expanding the agency’s presence in the region.
Temasek, which has a net portfolio value of close to $200 billion, has been active with investments in the telecommunications, media and technology sectors.
CAA is the leading agency across film, television, music and sports. It was the first Hollywood agency to establish a business in China.