Global alternative asset manager The Carlyle Group has agreed to acquire a majority interest in New York-based talent payroll, production support services and rights management solutions provider Talent Partners. The transaction, which is still subject to customary closing conditions, is expected to close in the second quarter of 2014, with equity for the investment provided by Carlyle Equity Opportunity Fund.
Talent Partners began almost 50 years ago as a specialty payroll company focused on commercial talent and has grown into a provider of more than 125 essential services, for over 750 clients, including 23 of the Top 25 largest U.S. advertising agencies. Following the acquisition, Paul Muratore will continue in his position as president and chief executive officer while longtime investor Michael Donovan, who also serves as executive chairman of Mediaocean, will retain an investment stake in Talent Partners. Matthew Kearney will join Talent Partners as executive chair of its board of directors at the time of the acquisition and will be responsible for identifying and pursuing digital business opportunities in the advertising and media industries for Talent Partners. Read more