Investment banker Micheal Klein is teaming up with Hollywood agent Creative Artists Agency (CAA), according to a Wall Street Journal report, which claims they plan to set up shop for sports and media deal-making.
It was expected to position the venture to challenge the Raine Group, the US bank that last year arranged the sale of Chelsea to its new consortium of American investors including Todd Boehly and is currently working on a partial divestment process at Manchester United on behalf of the football club’s majority owners the Glazers.
The new venture will be called CAA Evolution and it is expected to pursue opportunities for media and sports companies including sports transactions, financings and IPOs.
M Klein & Company (MK&C) was acquired by Credit Suisse in a deal worth $175 million.