Creative Artists Agency (CAA) and CMC Capital Partners (CMC) have come together to form CAA China, a new media and entertainment platform in China.
As part of the wide-range partnership, CMC has also made a minority investment in CAA.
CAA China will be majority owned by CAA. The venture combines the expertise and resources of CAA with the broad reach and network of CMC in Greater China. The idea is for the new operation to create a wide variety of business and client opportunities in the growing Chinese market, ranging from talent representation, endorsements and sports to digital media, music and original content production.
Jonah Greenberg, who runs CAA’s China efforts in motion pictures, will continue to work in that capacity, collaborating with the existing team in the Beijing office. Roeg Sutherland, co-head of CAA’s global film finance and sales group, will continue to lead the agency’s film finance business in the market. CAA China will progressively add more senior management to help expand the business into new entertainment and sports areas.
“For more than a decade, we have served as a vital bridge to and within the Chinese market, utilizing our deep experience and network to support the work of the region’s best artists and to develop opportunities within the market for international talent,” said CAA President Richard Lovett. “CAA China will supercharge our efforts, from motion pictures, television, endorsements and brand consulting to sports, live events, digital media and beyond. CMC, under the leadership of Li Ruigang, has a remarkable record of success in the region, and we are confident that our partnership will yield tremendous results for our clients and future business partners in China.”
CMC Chairman Li Ruigang commented: “We believe China and the U.S. are the two biggest entertainment markets and play pivotal roles on the global landscape. The partnership not only creates commercial and industry value but also serves as an innovative force in the evolution of the Chinese media industry. CAA is a prominent institution in the U.S. entertainment and sports sector, which has built its success on systematically and consistently enabling the success of their clients throughout the years. We are immensely excited about the potential possibilities of an enhanced China angle by CMC coupled with the experience and resources of CAA. CMC has been in a highly productive cooperation with CAA under the leadership of Richard Lovett, and we look forward to greater accomplishments in the future.”
“CAA China demonstrates the vision and innovation that has driven CAA’s growth and fueled its ability to stay on the leading edge of industry trends,” said Jim Coulter, co-founder of private equity firm TPG, CAA’s majority shareholder. “CAA has had a significant impact on the Chinese entertainment marketplace by enabling its clients’ success over the past 12 years. We are thrilled with the company’s progress and the value-creation CAA has realized for its shareholders since our investment. With CMC as a meaningfully invested partner and continuing growth in the Chinese market, the potential for CAA China is limitless.”