Exploring CAA Evolution: An Investment Bank and Advisory Firm for Sports, Media, and Entertainment
Key Highlights :
CAA has recently announced the formation of CAA Evolution, an investment bank and advisory firm poised to make deals across sports, media and entertainment. This new entity was created through a combination of CAA’s 15-year-old merchant bank, Evolution Media Capital (EMC), and boutique strategic advisory firm M. Klein & Company (MKC). CAA Evolution’s workforce of nearly 60 employees will be based in New York, LA and London.
The newly constituted venture enlarges CAA’s scope of activity beyond its existing presence in media rights deals and capital raises. CAA Evolution will advise on IPOs; fund and capital formation services; and strategic access to a range of institutional capital sources, according to a press release. It will also advise executives and boards on matters ranging from talent sourcing and PR/IR management to potential activist defense, board dispute resolution and evaluating unsolicited offers.
The leader of CAA Evolution is MKC’s founder, Michael Klein, who has more than 35 years of experience advising companies and boards of directors on a range of initiatives and transactions. Beyond the scope of CAA Evolution, the firm will continue to operate as a stand-alone business spanning a number of industrial sectors.
EMC, founded in 2008 by Robert Stanley, has worked with a number of entertainment and sports outfits, advising on M&A, capital raises and other transactions. EMC’s sports media advisory practice, led by President of CAA Evolution Alan Gold, has advised on, structured, and negotiated deals for major sports leagues, federations, conferences and teams, as well as helping shape their streaming and digital strategies. Collectively, the two firms have advised on more than $1.5 trillion in transactions, according to CAA.
The company itself has recently undergone its own corporate transformation, with French luxury goods billionaire Francois-Henri Pinault taking a majority stake via his family holding company Artemis. The deal closed last month, at a reported valuation of $7 billion.
CAA President Jim Burtson praised Klein and MKC for their “sophisticated understanding of global markets, corporate strategy and key industry trends, combined with deep experience in crafting state-of-the-art deals.” He also noted that the combination of EMC and MKC will give CAA Evolution clients an offering like no other in the market.
As CAA Evolution continues to expand its presence in the sports, media, and entertainment industries, it will no doubt become a powerful force in the world of finance. With its impressive roster of experienced advisors, CAA Evolution is sure to make a lasting impact on the industry.
