NBCUniversal CFO Becomes Co-Managing Partner of CAA's Evolution Media Capital
Stuart J. Epstein formerly served as an executive at Morgan Stanley.
NBCUniversal chief financial officer Stuart J. Epstein has moved to Evolution Media Capital, the merchant bank founded by CAA in 2008. Effective immediately, he will serve as co-managing partner to lead EMC's global growth strategy.
EMC serves as both advisory and investment platform for its clients, who include the Madison Square Garden Company, Tribeca Enterprises and The Mark Gordon Company. Among the 70-plus transactions it has advised on in its eight-year existence is the latter’s sale to Entertainment One in January. In 2013, EMC partnered with TPG Growth (the investment platform of CAA owner TPG Capital) and Participant Media to create investing arm Evolution Media Partners, which has more than $500 million under management. To date, EMP has made 13 investments in growth-stage companies that fall within CAA’s strengths in entertainment, media and sports.
“I am honored to join this dynamic organization and help grow the most innovative and pioneering forces in the media, entertainment and sports arena,” said Epstein in a statement. “EMC, with CAA and TPG Growth’s partnership, is capitalizing on the convergence of traditional banking and media operations and doing so at the nexus of content and distribution.”
As executive vice president and CFO of NBCU, Epstein saw the company’s operating cash flow grow at a compounded annual rate of 16 percent, from approximately $3 billion to more than $5 billion. He joined NBCU in 2011 from Morgan Stanley, where he was global head of media and communications, a member of the investment banking division’s management committee and a key adviser on the team that structured Comcast’s acquisition of a controlling stake in NBCU.
“Stuart has been at the epicenter of the media and entertainment industry for the past two decades, and no one is better equipped to help EMC provide the highest level of service and capture every opportunity possible for its clients,” said CAA president Richard Lovett in a statement. Lovett added that Epstein’s role will include expanding CAA’s advisory services, identifying investment opportunities for EMP and contributing to the agency’s strategic growth in the wake of its recapitalization.