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Beverly Hills sports and entertainment company Endeavor is selling contemporary art organization Frieze to a new events and experiences company launched by superagent and Endeavor founder Ari Emanuel.

“Frieze has always been a source of inspiration for me — both professionally and personally,” Emanuel said in a statement.

Emanuel was previously Endeavor’s chief executive and became executive chairman of Endeavor’s WME Group earlier this year after the company was taken private by private equity backer Silver Lake.

Beverly Hills entertainment company Endeavor became a privately owned company Monday, with Ari Emanuel, previously the CEO, becoming executive chairman of WME Group — which runs businesses such as the WME talent agency and IMG Licensing.

Endeavor said it will sell two of its properties to OB Global Holdings LLC, in a management buyout backed by Endeavor CEO Ari Emanuel.