WME-IMG secures $1.1bn cash injection from Singapore’s GIC and Canadian fund
August 3, 2017
The WME-IMG talent agency is set to receive a cash injection of roughly US $1billion as part of an investment led by the Canada Pension Plan Investment Board and the Government of Singapore Investment Fund (GIC).
The agency, which owns and operates hundreds of events including The Miss Universe Organisation and New York Fashion Week, spent over US$4billion to purchase the UFC last July.
“GIC is committed to supporting WME-IMG’s continuing innovation, industry leadership and international expansion,” said Eric Wilmes, managing director of private equity at GIC.
“WME-IMG has demonstrated a capacity to grow and diversify in an increasingly complex environment for sports, entertainment and fashion globally.
“As a long-term investor, GIC believes the company will benefit from the strong trend of consumers demanding quality content.”
CPPIB and GIC will joint current investors such as Silver Lake, SoftBank and Fidelity as WME-IMG strategic partners.
