Ari Emanuel to buy art fairs Frients in Endeavour

Unlock Free

Roula Khalaf, publisher of the FT, selects her favorite stories in this weekly newsletter.

Hollywood Powerbroker Ari Emanuel He is buying the Frieze Global Art and Publishing Group group in Endeavour, the entertainment group that co -founded, in an agreement with a value of $ 200 million.

The sale is likely to be closed in the third quarter of the year, according to a statement from Endeavour on Thursday. Although the terms of the acquisition have not been revealed, people with direct knowledge of the agreement said that they would rate the frieze at almost $ 200 million, placing it above expectations.

It is the first purchase of Emanuel’s global event company, which is supported by an investor consortium, including Apollo Global Management investment companies and Redbird Capital Partners.

“Frieze has always been a source of inspiration for me, both professional and personal,” Emanuel said. The fair group “represents a strategic cornerstone on our new global event platform,” he added.

The Consortium is also in the race to buy Endeavour tennis assets, which include the Open Miami and Madrid tournaments, Bloomberg News reportedly reported.

Endeavour: The United States -based entertainment group there Purchased for $ 25 million Earlier this year, private capital Silver Lake – for the first time bought a 70 percent participation in frieze in 2016 under Emanuel’s leadership and then took full property by 2023. He said last year that he was exploring a sale of Frieze.

Emanuel left his role as CEO of Endeavour as a result of the taking office and is the executive chairman of the WME group, the Hollywood Talent Agency in Endeavou.

Frieze It was founded as a contemporary art magazine in 1991 and launched its first fair in London in 2003. The ARA group manages seven events worldwide, including one in Seoul and four in the United States, as well as a gallery center in London. Next week, Frieze New York opens its 13th edition.

Frieze’s CEO, Simon Fox, continues in his role, with the rest of the leadership team and promises “a perfect transition”. Fox told Financial Times that “with the support of the new property, we are well located to speed up our creativity, collaboration and growth.”

Emanuel’s purchase comes when the art market lasts a multiannual fall, even before the The uncertainty driven by Donald Trump’s rates. By 2024, world sales fell 12 percent to $ 57.5 million, their lowest level for eight years, excluding by 2020, when Covid-19 Pandemic and the blockade reached sales, according to the latest report from the Art Basel / UBS market. MCH Group, who owns Frieze Rival Art Basel, obtained a net profit by 2024 after years of loss.

Additional Reports of James Fontanella-Khan and Antoine Gara in New York