Artwork Marketplace Frieze Transfers Ownership to New Enterprise Established by Ari Emanuel
In a significant move for the art world, Frieze, a London-based magazine and global art fair organiser, has been sold to a consortium of investors. The deal, expected to close by the third quarter of this year, has been facilitated by Apollo Global Management and RedBird Capital Partners, according to various reports.
The current leadership of Frieze, including CEO Simon Fox, will remain in place in the new company. Frieze, which has launched two new fairs in Los Angeles (2019) and Seoul (2022), was valued at almost $200 million, according to the Financial Times.
Ari Emanuel, the former CEO of Endeavor Group Holdings, is the new owner of Frieze. Endeavor first acquired a stake in Frieze in 2016. Since then, Frieze has expanded its portfolio by acquiring two struggling US fairs, Expo Chicago and the Armory Show in New York, in 2023.
In a statement, Emanuel expressed his excitement about Frieze's potential for further growth and its strategic importance in their new global events platform. The terms of the deal were not officially disclosed.
Endeavor was fully taken private by its owner, the private equity firm Silver Lake, in March. Endeavor first began exploring the sale in October of last year. The two tennis tournaments, Miami Open and Madrid Open, are still reportedly being pursued by the new owners for acquisition from Endeavor.
Frieze New York at the Shed will open next Wednesday, and it is one of several fairs running concurrently across the city. The 12th edition of Expo Chicago, run by Frieze, has just concluded.
The identity of the other investors involved in the purchase of Frieze from Endeavor Group Holdings has not been disclosed or detailed in the available search results. For the most current and specific details about the investors, it is recommended to check official press releases from Endeavor, Frieze, or financial news outlets.
- In the ever-evolving world of finance and business, the purchase of Frieze, a renowned art fair organiser, by Ari Emanuel, a former CEO of Endeavor Group Holdings, signals a significant shift in contemporary art and entertainment industries.
- As the new owner, Emanuel has highlighted the strategic importance of Frieze in expanding their global events platform, hinting at potential growth and expansions in the art fair industry.
- Despite the financial transaction being private, the acquisition of Frieze by Emanuel and the consortium of investors marks a new era for the art fair, with its potential impact reverberating across both the art and entertainment sectors.
