Singapore’s GIC, Canadian fund to invest US$1b in American talent agency WME-IMG
Terms of the deal were not disclosed.
WME-IMG represents a diverse roster of artists across platforms like film, television, music, books, digital and theatre. Its brands and events include the Ultimate Fighting Championship, The Miss Universe Organisation and New York Fashion Week.
GIC managing director of private equity Eric Wilmes said the soverign wealth fund was committed to supporting WME-IMG’s “continuing innovation, industry leadership and international expansion”.
“WME-IMG has demonstrated a capacity to grow and diversify in an increasingly complex environment for sports, entertainment and fashion globally. As a long-term investor, GIC believes the company will benefit from the strong trend of consumers demanding quality content,” Mr Wilmes said.
CPPIB and GIC join current investors Silver Lake, SoftBank and Fidelity as WME-IMG strategic partners, WME-IMG, CPPIB, GIC and Silver Lake said in a joint press release.
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