A month after Japan’s Softbank invested $250 million in WME-IMG that valued it at $5.5 billion, the talent and sports agency said today it has landed another investor, announcing that mutual fund company Fidelity Management and Research has made an investment of $55M. Fidelity now joins SoftBank and Silver Lake as the agency’s strategic partners.
WME-IMG said it will use the latest investments to advance its global growth strategy through new investments, acquisitions and joint ventures. The Raine Group, which also orchestrated the SoftBank deal, acted as exclusive financial adviser and placement agent on the new funding. Paul Weiss, Rifkind, Wharton & Garrison Llp acted as legal adviser.
Last week, the agency announced a strategic partnership with Frieze, a London-based arts media and events company.
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