Hollywood talent agency Creative Artists Agency and long-time deal maker Michael Klein are launching a new investment bank focused on sports, media and entertainment deals.

CAA’s merchant bank, known as Evolution Media Capital, and advisory firm M Klein & Co are joining to form CAA Evolution, the companies told The Wall Street Journal. The combined firm aims to work on large media companies’ deals, sell sports teams and advise on capital raises including initial public offerings, little of which Evolution does currently.