The agency run by David Gersh, Leslie Siebert and Bob Gersh is the latest to take on outside financing.
With the move, the agency becomes the latest Hollywood talent firm to take on outside financing. Following merger of Endeavor and William Morris in 2009, the top agencies — WME, Creative Artists Agency, and United Talent Agency — have widened the scope of their ten percenter business with private equity infusions. In the case of WME, and its parent company, Endeavor, that growth helped fuel a public offering in 2021. The majority owner of CAA, private equity investor TPG, went public last year.
Gersh, which currently has 300 employees and 125 agents, didn’t specify the areas in which it will use the funding to expand its full-service agency to other spaces in the representation landscape. Recent client signings include Tèa Leoni, Bradley Whitford, Diana Lee Inosanto, Derek Luke and Sabrina Impacciatore.
As far as relative company scale, UTA, which nabbed its latest private equity investment, from EQT Partners, last year, has around 2,000 employees while the combined CAA-ICM has 3,200 staffers. And, like Gersh, other firms, including APA Agency, Verve, Paradigm, Buchwald, A3 Artists Agency and more, see themselves as full-service alternatives to the top three agencies.
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