CAA Sells Majority Stake to Francois-Henri Pinault’s Artemis

French billionaire Francois-Henri Pinault has completed his acquisition of a majority stake in Creative Artists Agency. Through his family investment company Artemis, Pinault replaces private equity player TPG as the primary holder of one of Hollywood’s superpower talent agencies.

CAA, a diversified shop that makes deals on behalf of clients from Tom Cruise to the top-selling kids toys Squishmallows, joins Artemis’ $40 billion asset portfolio which includes Kering (the luxury goods group that houses names like Gucci and Saint Laurent), Christie’s auction house and winery Château Latour. The transaction, not yet completed, will value CAA at $7 billion.

The agency’s ruling triumvirate of Bryan Lourd, Kevin Huvane and Richard Lovett have all committed to remaining in leadership, though terms were not immediately disclosed, a formal announcement on Thursday said. Lourd will be named CEO after the Artemis transaction closes, a timeline for which was not specified. Jim Burtson, who led the CAA deal team, will remain President of CAA.