ICM Investor Rumors Abound

Oct 14, 2005  •  Post A Comment

Rumors that Beverly Hills-based talent agency International Creative Management was close to accepting an offer for a new financial partner buzzed through Hollywood earlier this week, with an East Coast-based equity fund manager singled out as a top contender in the deal.

Suhail Rizvi, who runs Rizvi Traverse Management, was named in a number of published reports Thursday and Friday as a potential investor in ICM. A spokesman for ICM declined comment.

ICM has been working with the investment firm Allen & Co. since last year, an agency insider confirmed, noting that the company is looking to build up its “war chest” to continue its business development. Any cash deals would not alter the company’s current management structure or bump ICM Chairman Jeff Berg from his lead investor status within the privately held company, the insider said, adding that a deal is not expected to close anytime soon.