NEW YORK, May 21, 2014 /PRNewswire/ -- Global
alternative asset manager The Carlyle Group (NASDAQ: CG) has
agreed to acquire a majority interest in Talent Partners, a
New York-based talent payroll,
production support services and rights management solutions
provider to the advertising industry. The transaction is subject to
customary closing conditions and is expected to close in the second
quarter of 2014. Equity for the investment will come from the
Carlyle Equity Opportunity Fund.
In its nearly 50-year history, Talent Partners has grown from a
specialty payroll company focused on commercial talent to a
provider of more than 125 essential services, including talent
negotiations and business affairs, traffic and clearance, rights
and royalty management and signatory services. The firm's 750+
client roster includes 23 of the Top 25 largest U.S. advertising
agencies and 23 of the Top 25 largest U.S. advertisers.
"Carlyle's investment is a
validation of our vision for the future," said Paul Muratore, President and Chief Executive
Officer, Talent Partners. "It provides us with the resources to
deliver new and innovative services to our clients and accelerate
our global growth."
David Stonehill, Carlyle Managing
Director, said, "We are impressed by the diverse, global
capabilities of Talent Partners, its long-standing relationships
with and the quality of its client roster, and its growth
potential. We look forward to working with Paul and his team to
expand their services to new and existing clients in the U.S. and
around the world."
Paul Muratore will continue in
his position as President and Chief Executive Officer.
Longtime investor Michael
Donovan, who also serves as Executive Chairman of
Mediaocean, will retain an investment stake in Talent Partners.
"Carlyle's commitment will help
accelerate the growth and market share of Talent Partners," added
Donovan.
Also at this time, Matthew
Kearney will join Talent Partners as Executive Chair of its
Board of Directors. In this capacity, Kearney will be responsible
for identifying and pursuing digital business opportunities in the
advertising and media industries for Talent Partners. Prior to
joining Talent Partners he served as Chairman of the international
branding agency CO OP, as CEO of the U.S. for Daily MailOnline and
as President and CEO of cinema advertiser, Screenvision.
About Talent Partners
In its nearly 50-year history,
Talent Partners has grown from a specialty payroll company focused
on commercial talent to a powerhouse provider of more than 125
essential services, including talent negotiations and business
affairs, traffic and clearance, rights and royalty management,
signatory services, and more. The firm's 750+ client roster
includes 23 of the Top 25 largest U.S. advertising agencies and 23
of the Top 25 largest U.S. advertisers. The company's 250+ person
staff provides round-the-clock services from offices in
New York, Chicago, Los
Angeles, London and
Toronto.
Web: www.talentpartners.com
About The Carlyle Group
The Carlyle Group
(NASDAQ: CG) is a global alternative asset manager with
$199 billion of assets under
management across 120 funds and 133 fund of funds vehicles as of
March 31, 2014. Carlyle's purpose is to invest wisely and
create value on behalf of its investors, many of whom are public
pensions. Carlyle invests across
four segments – Corporate Private Equity, Real Assets, Global
Market Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle
East, North America and
South America. Carlyle has expertise in various industries,
including: aerospace, defense & government services, consumer
& retail, energy, financial services, healthcare, industrial,
real estate, technology & business services, telecommunications
& media and transportation. The Carlyle Group employs more than
1,600 people in 38 offices across six continents.
Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary
Media Contacts:
Sal
Cataldi/Jacky Agudelo, Talent
Partners, Tel: 212.244.9797, sal@cataldipr.com
jacky@cataldipr.com
Liz Gill, The Carlyle Group, Tel:
202.729.5385 elizabeth.gill@carlyle.com
SOURCE Talent Partners