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Wall Street banks including JPMorgan Chase & Co. and Bank of America Corp. are in talks to provide as much as $8 billion in financing for a buyout of DocuSign Inc. Representatives for JPMorgan, Bank of America, DocuSign, Jefferies, Deutsche Bank, Bain and Hellman & Friedman declined to comment.
The Paris-based company has raised the money for a secondary fund that profits from institutional investors who sometimes have to sell stakes in privateequity funds early. Typically, buyout funds lock up investors’ money for more than a decade. By contrast, its flagship buyout fund had raised $15.5bn by the end of March.
The report cites unnamed sources familiar with the matter as revealing that the privateequityfirms have started consulting with investmentbanks in preparation for a potential sale process, expected to begin in early 2025.
Ultra-rich individuals and families worth more than $150bn are helping drive a resurgence in privateequitybuyouts, providing capital for some of the year’s biggest acquisitions to overcome a tough dealmaking environment. The shift is catching the eye of major investmentbanks.
WH Equity Partners, a US privateequityfirm focused on growth investments and buyouts in the small and mid-cap sectors, has been launched by Senior Managing Director and Chief Investment Officer Peter Weinbach and Senior Managing Director Grant Harshbarger.
Global investmentbank Cambridge Wilkinson has established a new control-focused privateequityfirm BCB Equity Partners. The post Cambridge Wilkinson founders launch spinoff buyoutfirm first appeared on AltAssets PrivateEquity News.
Banks are also said to be offering competing packages that include a smaller amount of debt and preferred equity. PowerSchool is based in Folsom, California and has reportedly also attracted interest from privateequityfirms Warburg Pincus and Bain Capital.
Investmentbanks, which faced significant losses on risky merger and acquisition (M&A) loans due to a spike in global interest rates, are now aggressively returning to the leveraged buyout (LBO) market — one of the most profitable sectors in finance, according to a report by Bloomberg. Lending limits have also increased.
Generally speaking, during the early days of a start-up , founders will raise money from venture capital or privateequityfirms in exchange for equity. The company specializes in an instrument called venture debt -- or loans made at high interest rates.
Privateequityfirm CVC Capital Partners has shunned the private credit markets in favour of loans from investmentbanks to finance two of its latest buyouts – restaurant group La Piadineria and vitamin manufacturer Sunday Natural – according to a report by Bloomberg.
Bain has been interviewing investmentbanks to hire financial advisers that will help the privateequityfirm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Buyoutfirms have been actively seeking exits from apparel businesses this year.
trillion private credit market, which has burgeoned into a competitive funding tool for privateequityfirms, are coming thick and fast. This week alone, Bloomberg News reported on direct-lending firms working on plans for potential multi-billion dollar buyouts of Adevinta, Kereis and Iris Software.
The privateequity owner of Intermedia Cloud Communications is exploring options including a sale that could value the communications services provider at more than $1bn, including debt, according to people familiar with the matter. Buyoutfirm Madison Dearborn Partners is working with investmentbank Evercore (EVR.N)
Carlyle, a private-equityfirm, has been interviewing investmentbanks to hire a financial advisor that will run a sale process for Every Man Jack, the sources said, cautioning that no deal is certain. Carlyle told its staff last month it would not make new investments in U.S.
A roughly $5 billion debt deal for the buyout of health-care tech company Cotiviti Inc. was poised to become the largest such financing ever provided by private credit firms when first contemplated last year. The about-turn in the closely watched financing is the result of a tie-up between privateequityfirms KKR & Co.
Nordic Capital is weighing a sale of German regulatory software firm Regnology, in a deal which could value the business at up to 3 billion euros ($3.27 billion pounds, while Blackstone acquired UK-based software firm Civica for $2.5 billion.
Privateequityfirm Advent International is exploring a sale of CCC Intelligent Solutions Holdings Inc. , Investmentbank Morgan Stanley is advising CCC on its talks with potential acquirers, which include other buyoutfirms, the sources said, adding that no deal is certain.
Nasdaq is acquiring financial risk software company Adenza for $10.5bn in its largest-ever such deal, from privateequityfirm Thoma Bravo. Adenza, which is owned by privateequityfirm Thoma Bravo, is expected to generate $590mn in revenue and $300mn in cash flow this year, Nasdaq said.
Shares of Macy's (NYSE: M) were surging today after the department-store chain received a buyout offer from two privateequityfirms. Macy's gets a sweet offer The buyout offer from real estate investor Arkhouse Management and asset manager Brigade Capital Management values the company at $21 a share, or $5.8
Epiris, a British-based buyoutfirm and Newlat, an Italian food manufacturer are vying for control of Princes Foods, one of Britain’s biggest tinned produce brands. The auction is being run by Houlihan Lokey, the investmentbank. Epiris declined to comment, while Newlat could not be reached for comment.
NEW YORK, Aug 31 (Reuters) – The privateequity owners of Procare Solutions are exploring a sale that could value the child-care management software provider at nearly $2 billion, including debt, according to people familiar with the matter. The auction is expected to attract interest from privateequityfirms, the sources said.
The privateequity owner of Tropical Smoothie Cafe is preparing to put the U.S. Buyoutfirm Levine Leichtman Capital Partners has hired investmentbank Robert W. Reuters reported last week that the investmentfirms that own Chuck E. Source: USNews Can’t stop reading? amid interest.
According to the report from Reuters, SentinelOne has hired an investmentbank, but it's also possible the talks will end without a sale. A better possibility, if SentinelOne is acquired, is a buyout by a privateequityfirm. At the time of writing, SentinelOne trades at a P/S ratio of 9.6 compared to 14.1
According to Reuters, SentinelOne's management has already hired an investmentbank to advise it through the process. And it sounds like it's already spoken to some privateequityfirms. Therefore, it's possible that a buyout wouldn't come at an overly attractive price for current shareholders.
Glovier also served as Managing Partner at Opus Equity Partners, a lower middle-market privateinvestment fund and a portfolio investment led by Glovier while at Fortress. Glovier also worked at Perseus, a Washington, DC-based lower middle-market privateequityfirm, where he co-led buyouts from its New York office.
Hercules Capital (NYSE: HTGC) is a BDC that invests in technology, life sciences, and sustainable energy businesses. The company typically supports start-ups that have raised funding from venture capital or privateequityfirms and are looking to augment the balance sheet with some debt.
SentinelOne hasn't said anything about selling itself, and the recent rumors merely suggest it's brought in the investmentbank Qatalyst Partners to explore a potential deal. There's no news about an actual valuation or any potential suitors -- so investors shouldn't buy SentinelOne in hopes of a quick buyout.
Lately, much attention has been lavished on Ares Capital, the unit created in 2004 to provide financing for middle-market acquisitions, recapitalizations, and leveraged buyouts. The Ares portfolio is diversified across 466 borrowers backed by 222 privateequity sponsors that invest in those borrowers’ equity.
PARTNER CONTENT By Lou Gueroeva PrivateEquity Business Development Lead, Zanders In the modern privateequity (PE) landscape, there is a growing shift from traditional financial engineering towards operational value creation, with treasury and finance optimization becoming key drivers of sustainable returns.
Global law firm Ropes & Gray has named 12 of its existing attorneys as the firm’s latest Partners, effective 1 November, including several whose practices cater for privateequity and other private credit and private fund clients. She brings a deep understanding of technology and consumer brands.
It specializes in an investment vehicle called venture debt. Typically, a start-up will raise funds during its early days from venture capitalists (VC) or private-equityfirms. In exchange for capital, founders will give up equity in their company. Hercules Capital: 10.3%
THL mulls $1.5bn sale of healthtech Nextech Submitted 29/06/2023 - 10:25am Privateequityfirm THL Partners is working with investmentbank William Blair over a potential sale of healthcare software provider Nextech Systems that could value the company at around $1.5 billion, according to a report by Reuters.
UK-based lower mid-market privateequityfirm Westbridge has promoted Rebecca Sinclair, who joined the firm in 2019, to investment director, and Luke Gilbert, who joined in 2023, to investment manager. Gilbert supports the investment team with deal origination, deal execution and portfolio management.
.” With the added capital, Rite Way expanded services, added more trucks, hired more workers, and invested in apprenticeship and training programs for technicians. Workers benefit financially, too, says Graham Weaver, founder of private-equityfirm Alpine Investors, based in San Francisco.
They’re one of the older privateequityfirms around, been been in business since 1994. And that was very important because when this was the dawning of what is now a big analyst program across the country in all banks and investmentbanks. How did those experiences lead to a career in privateequity?
About Oak Hill Capital Oak Hill is a longstanding privateequityfirm focused on the North America middle-market. Oak Hill is a specialist, theme-based investor dedicated to investing in the following industry sectors: Media & Communications, Industrials, Services, and Consumer. Stephens Inc.
Apollo is one of a number investors, both wealthy individuals and professional money managers, that have reached out in recent weeks to BDT & MSD Partners, the investmentbank advising the Redstones, according to people familiar with the discussions. Privateequityfirms RedBird Capital Partners and KKR & Co.
You would have the investmentbank and the founders and a whole bunch of folks do these giant road shows and they would go from New York to Boston, they’d go out to San Francisco, they would go all around the country showing off the company before the big wedding. They, they manage them, not what you guys do.
BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, his name is Steve Klinsky, and he has an absolutely storied history in the field of privateequity. And what was interesting was the first leveraged buyout of a public company happened when I was in graduate school. KLINSKY: Yeah.
I mean, if you’re buying debt in, in, you name it company at 20 cents to 60 cents, and they’re owned by, you know, marquee privateequityfirms, what’s gonna happen with that? And we, we feel that a lot of phone calls, I think the most nervous we became was when the banks started failing.
She will focus on diligence for co-investment, fund and secondary opportunities predominantly in the middle and lower middle-market buyout and growth equity space. She began her career in investmentbanking at the Royal Bank of Canada in London. from law firm Macfarlanes, where he served as Analyst.
That whole distressed debt department at city 00:06:31 [Speaker Changed] Banks are wanting to sell? I work for a really senior guy in the investmentbank. But because these are really good businesses, which got levered, they got leveraged through these leverage buyouts. Two, three years at a privateequityfirm.
Kat Hidalgo, Allison McNeely, Neil Callanan and Eyk Henning of Bloomberg report that privateequity's creative wizardry is obscuring danger signs: As Pete Stavros addressed the privateequity industry’s yearly shindig in Berlin last month, the KKR & Co. But they were just as troubling.
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