Creative Artists Agency (CAA) is in advanced talks to have French billionaire Francois-Henri Pinault buy a majority stake; the deal could value the Hollywood talent agency at over $7 billion.
Pinault is the CEO of Kering, the company that owns Gucci among other companies, and the husband of actress Salma Hayek. Sources familiar with the matter were quick to stress that this sale was not final.
If the talks bear fruit, the deal would mark a big win for private equity firm TPG, which first invested in CAA in 2010. In 2014, TPG bumped up its stake to 53% in a deal that valued the agency at $1.1 billion. Founded in 1975, CAA has grown to became arguably the most powerful talent agency in entertainment.
The Los Angeles-based agency represents thousands of actors, directors, athletes, and music artists. Its client roster includes Tom Hanks, Chris Paul, Zendaya, Steven Spielberg, and Scarlett Johannson.
