Joe GallopLos Angeles-based Creative Artists Agency (CAA) is reportedly in talks to sell a majority stake in its business to French billionaire François-Henri Pinaultl, the CEO of Gucci-owner Kering.
According to Bloomberg, people familiar with the matter said TPG Capital-backed CAA could sell the business for at least $7 billion (£5.3bn).
Another source, however, said talks with Pinaultl – husband of actress Salma Hayek – could end without agreement, adding that a final decision has not yet been made. Neither party has yet commented on the matter.
Pinault’s family owns the Kering group, which owns companies including luxury brands and fashion brands Gucci, Saint Laurent, Bottega Veneta, Balenciaga and Alexander McQueen.
Kering parent company the Artemis Group was set up as the Pinault family’s investment vehicle in 1992. It owns a stake in sports brand Puma and has made investments in Deezer and ByteDance.
CAA has a presence in locations such as New York, Nashville, London, Beijing, Shanghai, Stockholm, Toronto and Munich, along with several other US cities and locations globally. In 2021, CAA acquired rival entertainment and sports agency ICM Partners (ICM).