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TPG Gains Control of Talent Agency CAA With New Funding

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TPG Capital Management LP, the private-equity company with $66 billion in assets, acquired a majority stake in Creative Artists Agency LLC, adding to its holding in Hollywood’s biggest talent firm.

TPG raised its stake to 53 percent from 35 percent, valuing the company at about $1.1 billion, two people with knowledge of the matter said. CAA will have about $400 million in debt when the deal is completed, said one person, who requested anonymity because the terms are private.