UTA Sells Minority Stake to Two International Investors
Tuesday, August 7, 2018
United Talent Agency has sold an undisclosed minority stake in their company to two international investors, according to an Aug. 7 announcement.
The Beverly Hills-based talent agency sold an equity stake in their company to Canada’s Public Sector Pension Investment Board and Bahrain-based investor Investcorp.
In a press release, UTA characterized the transactions as providing the capital needed to accelerate its growth. Like the other major Los Angeles market talent shops, Creative Artists Agency and Endeavor, UTA has expanded from talent representation to make investments in a range of entertainment ventures, from electronic music to e-sports.
UTA ranked 2nd last year on the Business Journal’s list of Los Angeles County talent agencies, as ranked by the number of agents. The company has 325 talent agents.
Media and entertainment reporter Matthew Blake can be reached at (323)556-8332 or mblake@labusinessjournal.com