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Innovative Artists Sells Minority Stake to Private Equity Firm Coral Tree Partners
Innovative Artists has sold a minority stake in the company to Los Angeles-based private equity firm Coral Tree Partners.
Financial aspects of the deal were not disclosed, but Variety has confirmed Coral Tree’s minority stake in Innovative Artists is a “significant investment” of more than 40% of the company. Founded in 1982 by Harris and Howard Goldberg before being rebranded as Innovative Artists in 1992, the bi-coastal agency serves clients across departments including talent, literary, production, unscripted, comedy, appearance, broadcast, voiceover, commercial and endorsement areas. Coral Tree partner Will Wynperle added: “We are grateful to be entering into a true strategic relationship with Innovative at the agency’s exciting growth stage.
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