Live music and entertainment giant Creative Artists Agency (CAA) has accepted an investment from Singapore-based Temasek – which recently hit headlines for being one of two funding sources to ‘save’ SoundCloud.
Temasek’s investment in the talent agency will be used to accelerate its growth, particularly through acquisitions.
It follows this year’s investment into CAA by Chinese media and entertainment fund, CMC, alongside Fubon Group, including Taiwan Mobile.
TPG Capital retains its 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.”
Temasek’s US $197bn portfolio includes investments in companies such as Alibaba Group and Airbnb, among others.
Incorporated in 1974, the company runs 10 global offices, including New York and San Francisco in the U.S., London in Europe, Beijing in China, and Mumbai in India.
Its current and prior investments in the U.S. include Airbnb, Ancestry.com, Classpass, Dell Technologies, Intapp, Internet Brands, Jasper, Soundcloud, Sprinklr, Univar, Verily Life Sciences, Virtu Financial and Wish.Music Business Worldwide