Carlyle Group to Acquire Majority Stake in Talent Partners
- May 22, 2014
In 2013, The Carlyle Group invested in excess of $1 billion in real estate assets in the U.S. and Asia, closed the $1.3 billion disposition of Manhattan’s 650 Madison Ave., and today it has more than 300 active real estate investments across nine funds.
However, it’s hardly all about real estate for the global alternative asset manager, as evidenced by its most recent transaction. Carlyle has entered into an agreement to acquire a majority interest in Talent Partners, a talent payroll, production support services and rights management solutions provider to the advertising industry.
Talent Partners opened its doors approximately 50 years ago as a specialty payroll firm, but now the company has expanded into a provider of more than 125 services ranging from talent negotiations and business affairs to royalty management and signatory services. Its portfolio of approximately 750 clients includes 23 of the top 25 largest advertisers in the U.S.
Carlyle will acquire a percentage of Talent Partners through its Carlyle Equity Opportunity Fund. CEOF, which launched in 2011 and raised $1.1 billion by the close of 2012, pursues control investments in middle market companies in the aerospace and defense, technology, consumer and retail, telecom and media, industrial and healthcare sectors.
Neither Carlyle nor Talent has disclosed the financial terms of the transaction; however, CEOF targets companies requiring equity capital of $25 million to as much as $150 million per single transaction. The acquisition of the Talent Partners interest is on track to close by the end of the second quarter. And, of course, there will be much more to come from Carlyle.
Boasting $199 billion of assets under management, Carlyle is a diverse entity, focusing its efforts on corporate private equity, real assets, global market strategies and solutions. “We are always looking for the best opportunities to invest wisely and create value across our four segments,” a Carlyle spokesman told Commercial Property Executive.