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Hollywood power broker Ali Emmanuel has purchased the Frieze Global Art Fair and Publishing Group on a $200 million deal from Endeavor, the entertainment group he co-founded.
The sale is likely to close in the third quarter of the year, according to an Endeavor statement on Thursday. The terms of the acquisition have not been revealed, but those with direct knowledge of the transaction valued Freeze at $200 million and said it exceeded expectations.
This was the first purchase by Emmanuel’s global events company and is supported by a consortium of investors such as investment companies Apollo Global Management and Redbird Capital Partners.
“Frieze has always been a source of inspiration for me, both professionally and personally,” Emmanuel said. Fairgroup “represents the strategic cornerstone of the new global event platform,” he added.
Bloomberg News, previously reported, is on a run to buy Endeavor tennis assets, including the Miami and Madrid open tournaments.
Endeavor – a US-based entertainment group purchased for $25 billion by private equity company Silver Lake earlier this year – first bought a 70% stake in Freeze under Emmanuel’s leadership in 2016 and gained full ownership in 2023.
Emmanuel quit his role as CEO of Endeavor after the acquisition and is the executive chair of the WME Group’s Endeavor Hollywood Talent Agency.
Frieze was founded in 1991 as a contemporary art magazine and launched its first fair in London in 2003. The group currently hosts seven events and a London Gallery Hub, including one in Seoul and four in the US. Next week, Freeze New York opens its 13th edition.
Freeze’s CEO Simon Fox has taken his role in the rest of the leadership team, pledging a “seamless transition.” “By supporting new ownership, it’s a great way to accelerate creativity, collaboration and growth,” Fox told the Financial Times.
Freeze currently hosts seven events around the world, including Los Angeles © Casey Kelbaugh/CKA
The purchase of Emmanuel comes as the art market endures a multi-year slump, even before the uncertainty spurred by Donald Trump’s tariffs. In 2024, global sales fell 12% to $57.5 billion at the lowest level in eight years, excluding 2020, excluding 2020. According to the latest ART Basel/UBS Art Market Market Report. The MCH Group, which owns Freeze’s rival Art Basel, made a small net profit in 2024 after years of loss.
Additional Reports by James Fontanella Kahn and Antoine Gala of New York
