Fidelity Management has made a $55 million investment in WME-IMG, the companies said Wednesday.
The Boston-based mutual fund joins Silver Lake Partners and SoftBank as investors in the agency, run by Ari Emanuel and Patrick Whitesell. The SoftBank deal closed last month to the tune of a $250 million, bringing the company’s total valuation to $5.5 billion.
The Raine Group acted as financial advisor on the Fidelity deal, on behalf of the bicoastal WME-IMG. Paul Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors.
WME operates as a full-service, multi-platform entertainment agency. IMG is a global producer of lifestyle and fashion events, as well as owner of the “Miss Universe” pageant franchise.
The company also counts properties in beauty and stylist agency The Wall Group and Professional Bull Riders.