Wasserman Agency Investor Supports Ownership Transition

Providence Equity Partners says it remains 'fully committed' to the company amid leadership changes.

Published on Feb. 15, 2026

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Providence Equity Partners, a major investor in the Wasserman Agency, has expressed support for the sports and talent representation firm's leadership transition. This comes after Wasserman founder Casey Wasserman announced plans to step down and explore a sale of his stake in the company, following fallout from reports of a past consensual relationship with Ghislaine Maxwell.

Why it matters

The Wasserman Agency is a prominent player in the sports, marketing, and entertainment representation business. The leadership transition and potential sale of the company could have significant ripple effects across the industry as rival agencies look to capitalize on any client or talent defections.

The details

Providence Equity Partners, which became a majority investor in Wasserman in late 2022, said it will maintain its position as the company evaluates its options, which could include a sale, mergers, or acquisitions. The firm expressed confidence in the company's leadership team, including interim CEO Mike Watts, and said it remains committed to investing in Wasserman's growth. The sudden announcement of Wasserman's departure has prompted widespread speculation in Hollywood and the sports representation business.

  • In late 2022, Providence Equity Partners became a majority investor in the Wasserman Agency.
  • On February 15, 2026, Casey Wasserman announced plans to step down and explore a sale of his stake in the company.

The players

Providence Equity Partners

A Rhode Island-based private equity firm that became a majority investor in the Wasserman Agency in late 2022.

Casey Wasserman

The founder of the Wasserman Agency who announced plans to step down and sell his stake in the company following fallout from reports of a past consensual relationship with Ghislaine Maxwell.

Mike Watts

The Wasserman Agency's president, who was named interim leader of the company following Wasserman's announcement.

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What they’re saying

“We believe deeply in the strength of the Company and have full confidence in Mike [Watts] and the leadership team, as well as in the exceptional employees across the organization. We remain fully committed to investing in its growth, expanding its capabilities across sports, music, and entertainment, and supporting the extraordinary talent, brands, and properties the Company is proud to represent.”

— Providence Equity Partners (TheWrap)

The takeaway

The Wasserman Agency's leadership transition and potential sale highlights the challenges facing prominent talent representation firms in navigating high-profile controversies and maintaining client and talent trust. The outcome of this transition could have significant implications for the broader sports, marketing, and entertainment industries.