The End Of An Era?: CAA Partners Reportedly Cashing Out Of Agency

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My sources tell me that, after months and months of negotiations with potential financial partners pursued by CAA, the agency has focused on KKR -- Kohlberg Kravis Roberts & Co, the New York City-based private equity firm. The deal being bargained is for KKR to invest a whopping $200M in Hollywood's most powerful agency. That's a huge cash infusion considering that CAA's revenues were around $300M in 2007 before the financial crisis struck. So why does CAA need so much money?...this is much more about CAA needing to raise additional cash as a liquidity event for its partners.

They say that CAA's 2nd generation of owners -- one-time Young Turks: Bryan Lourd, Kevin Huvane, Richard Lovett, Doc O'Connor -- are upfront about their desires to cash out of the agency business.

Read the whole story at deadline.com

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