Ari Emanuel Buys Frieze, Art Events and Media Company, From Newly Private Endeavor Group

Ari Emanuel has acquired Frieze from Endeavor Group Holdings, the company where he until last month headed as CEO and now serves as executive chairman. Emanuel has formed a new events and experiences company that will house Frieze, the art fair, magazine and digital media outfit that predecessor company WME-IMG had acquired in 2016.

Last month, Endeavor went private with private-equity firm Silver Lake in a $25 billion deal. Emanuel — who got a $173.8 million cash payout under the Endeavor go-private deal — is now executive chairman of WME Group, that company’s new public-facing name. Emanuel got a $173.8 million cash payout under the Endeavor go-private deal 

Separate from WME Group, Emanuel has formed an as yet-unnamed “global events and experiences” company that is “backed by a consortium of leading global investors,” Endeavor Group said in announcing the Frieze sale.

Terms of the deal weren’t disclosed. Frieze, inclusive of its international art fairs and respected editorial and digital platforms, will become a “foundational part” of Emanuel’s new company. Frieze CEO Simon Fox and his senior management team will continue to oversee the business and “work closely” with Emanuel, per Endeavor Group.

“Frieze has always been a source of inspiration for me — both professionally and personally,” Emanuel said in a statement. “Having worked with the team for nearly a decade, I’ve seen firsthand the strength of their community and the ambition driving their mission to expand the reach and understanding of contemporary art. Frieze is well positioned for further growth and represents a strategic cornerstone in our new global events platform.”

The Emanuel-led deal to buy Frieze comes just ahead of its flagship New York event, set to run May 7-11 at The Shed at Manhattan’s Hudson Yards, with more than 65 participating galleries. The show draws “tens of thousands of visitors” including “ultrawealthy collectors who might spend upward of $1 million on a single painting there,” according to the New York Times.

Frieze, based in London and New York City. describes itself as “a leading global contemporary art organisation,” known for its art fairs, publications and digital presence. Founded in 1991 with the launch of Frieze magazine, the brand now operates seven art fairs worldwide in cities including Chicago, London, Los Angeles, New York and Seoul. Frieze also hosts year-round curated programs and associated initiatives, such as No.9 Cork Street and Frieze 91, that enrich the cultural landscape.

Latham & Watkins acted as legal adviser and the Raine Group and BDT & MSD Partners acted as financial advisers to Endeavor Group Holdings. Akin Gump Strauss Hauer & Feld LLP acted as legal adviser and Goldman Sachs and LionTree Advisors acted as financial advisors to Emanuel and his investment consortium.