Kekst CNC handles Crestview Partners private equity firm as it takes a 45 percent stake in The Gersh Agency, a leading Beverly Hills and New York talent agency.
Founded in 1949 by Phil Gersh, the firm has 300 employees, of which 125 are talent agents. It is the No. 4 entertainment agency.
The partnership with Crestview marks the first time that Gersh Agency has brought in an investor that is outside the family.
As part of the transaction, senior managing partner Leslie Siebert will be promoted to co-president to serve alongside brothers David and Bob Gersh.
In noting the agency has maintained its independence for more than seven decades, Bob Gersh said Crestview is the right partner to accelerate domestic and international growth.
Crestview “is completely aligned with our agency ethos and it would bring to bear meaningful experience and infrastructure to support our continued growth as a client-first agency,” he said.
Kekst CNC vice chairman Jeffrey Taufield and partner Daniel Yunger represent Crestview, which manages more than $10B in aggregate capital commitments.
Publicis Groupe owns Kekst CNC.