TPG, a private equity giant founded by David Bonderman, is making a comeback in the talent business. Last year, TPG sold its stake in CAA to French billionaire François-Henri Pinault. Now, the company is launching a new venture that will focus on acquiring, investing in, and expanding a global business centered on talent management, representation, and related verticals.
Michel Pratte, the former President of Boat Rocker Media, has been named as the CEO of the new company. Additionally, Eric Taitz, also a former executive at Boat Rocker, will be the COO. The first investment of the new company will be in Untitled Entertainment, a talent management firm led by Jason Weinberg and Stephanie Simon. The pair will remain as co-CEOs of Untitled and will roll a significant portion of their equity into the new venture.
TPG has $224 billion under management and with this breadth of options as it re-enters the talent business after exiting CAA. The company aims to leverage its experience in the field to create a talent representation company that benefits both managers and the talent they serve. Untitled Entertainment is seen as an ideal first partner for this new venture which aims to scale up collaboration across various complementary talent verticals with subsequent investments.
The evolving entertainment industry offers new opportunities for ambitious talent and their representatives. According to Pratte, the future of representation requires proactive strategies and access to innovative tools for growth. The new company aims to empower Untitled and other talent-centric businesses to support a diverse group of clients on their path to achieving their highest career goals.