Features
UTA Takes Stake In Investment Bank
United Talent Agency has taken an equity stake in AGM Partners LLC, a boutique investment bank based in New York City, helping the third-biggest agency in Hollywood further beef up its position in a changing financial landscape.
– UTAAGM Partners specializes in financial advisement to media and entertainment firms, including that of the recent acquisition of SESAC by the Blackstone Group and the leveraged buyout and subsequent sale of Warner Music Group.
Described as a strategic alliance, the deal allows UTA and its clients to call upon AGM for dealmaking guidance, as agency income streams more commonly deviate from the traditional 10 percent cut of clients’ work.
It also vaults UTA into the same financial stratosphere as larger rivals WME | IMG and CAA, which both have relationships with investment banks.
UTA and AGM will work closely to “leverage their relationships, deep industry expertise, and deal making capabilities to provide top-tier financial advisory solutions to existing and new clients,” according to a statement from UTA. “Additionally the partnership will expand the scope of UTA and AGM’s financial services offering, including principal investing capabilities to take advantage of compelling investment opportunities.”
Financial details of the partnership were not disclosed.
“The marriage of top talent with deep industry and financial acumen is a potent combination at this moment in time,” UTA CEO Jeremy Zimmer said. “As media technology and entertainment players – both established and new ones – compete for positioning, talent and capital, insightful advice and the ability to execute innovative transactions is an important advantage.”
AGM Partners is headed up by President/CEO Alan Mnuchin, who founded the company in 2003 after stints at Lehman Brothers, Bear Stearns and Goldman Sachs.
If the name sounds familiar, his brother Steven was recently named U.S. Treasury secretary by President Donald Trump.
“Combining our deep relationships among the industry’s largest stakeholders with UTA’s leading position representing talent throughout the entertainment industry, make this a particularly strong alliance,” Mnuchin said. “AGM will continue to operate independently, while taking advantage of an expanded network with UTA and the ability to offer innovating solutions to agency clients.”