Mon.Nov 06, 2023

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UK-based CapVest acquires Recochem from HIG Capital

PE Hub

Recochem is a Montreal-based manufacturer, marketer and distributor of aftermarket transportation and household fluids. The post UK-based CapVest acquires Recochem from HIG Capital appeared first on PE Hub.

Capital 222
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KKR Raises $2.8bn for Second Global Impact Fund

Private Equity Insights

Private equity firm KKR & Co has completed the raise of its second global impact fund dedicated to investments that advance sustainability and social equity, amassing $2.8bn. Ken Mehlman and Robert Antablin, the fund’s co-heads, told Reuters in an interview that more opportunities to deploy capital led to the firm attracting commitments from investors for more than double its first $1.3bn impact fund raised in 2020. “The resiliency of our portfolio and growth in our strategy refl

Funds 130
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CPP Investments to exit 24.5% stake in German offshore wind assets

PE Hub

The wind farms are located about 100 kilometers from the German North Sea coast and began operating in 2019 and 2020 The post CPP Investments to exit 24.5% stake in German offshore wind assets appeared first on PE Hub.

Stakes 217
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Bain Capital Acquires Guidehouse in $5.3bn Deal

Private Equity Insights

Guidehouse, a leading global provider of consulting services to the public sector and commercial markets, entered into a definitive agreement to be acquired by an affiliate of Bain Capital Private Equity (“Bain Capital”) for $5.3bn. Guidehouse will continue to operate under its current management team, led by Chief Executive Officer Scott McIntyre. Guidehouse has been owned by Veritas Capital since 2018.

Capital 130
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Ascend Partners-backed MSPB acquires concierge medicine practice Colton and Kaminetsky

PE Hub

Medical Specialists of the Palm Beaches is a primary care-focused, multi-specialty physician group practice in South Florida. The post Ascend Partners-backed MSPB acquires concierge medicine practice Colton and Kaminetsky appeared first on PE Hub.

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Rubicon Technology Partners Closes $1.7bn Fund IV, its Largest to Date

Private Equity Insights

Rubicon Technology Partners (“Rubicon”), a leading private equity firm focused on enterprise software investments, announced the successful closing of its latest fund, Rubicon Technology Partners IV (“Fund IV” or “the Fund”), at approximately $1.7bn. This represents a 34% increase in size from its predecessor fund, Rubicon Technology Partners III, which closed in 2020.

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Silver Lake, General Atlantic, and Prosus-Backed Byju’s to Sell Epic to Joffre Capital for $400m

Private Equity Insights

Indian ed-tech firm Byju’s is in advanced talks to sell its U.S.-based kids’ digital reading platform Epic! Creations for about $400m to private equity firm Joffre Capital, seeking funds to ease its financial pressures, Bloomberg News reported on Monday, citing people familiar with the matter. Byju’s has been looking to raise up to $1bn by selling two companies – Great Learning and Epic – in a bid to streamline its business and repay lenders, Reuters reported in Sep

Capital 130
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Fonds de solidarité FTQ pumps C$68m into SMT Intelligence

PE Hub

SMT Intelligence is an electronic circuit manufacturing specialist based in Laval, Quebec. The post Fonds de solidarité FTQ pumps C$68m into SMT Intelligence appeared first on PE Hub.

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Carlyle to Sell Japanese Cosmetics Supplier Tokiwa for $1bn

Private Equity Insights

Carlyle Group is planning to sell Japanese cosmetics supplier Tokiwa Corp in a deal that could fetch $1bn, two sources with knowledge of the matter said. The investment firm has tapped Jefferies and ‎SMBC Nikko Securities as advisors to work on the sale of the 75-year-old company, which will kick off early next year, said one of the people, who both declined to be named as the information is confidential.

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Platinum Equity to acquire Kohler Energy

PE Hub

The transaction is expected to close in the first half of 2024. The post Platinum Equity to acquire Kohler Energy appeared first on PE Hub.

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Interest Payments Are An Increasingly Large Part Of The US Budget Deficit

The Big Picture

Source: Chartr We talked about this 2 weeks ago , but the nation missed a fantastic opportunity to refinance all of the outstanding US debt at much lower levels. Every corporate debt issuer and homeowner in America refinanced at lower rates — except for Uncle Sam. If you were in Congress from 2015-2021, you are the reason why HALF of the projected federal debt will soon be interest payments.

Debt 128
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NewSpring-backed underdog & company scoops up college sports advisor Altius

PE Hub

Underdog & company is a marketing services firm for the sports, media, entertainment and social impact/nonprofit industries. The post NewSpring-backed underdog & company scoops up college sports advisor Altius appeared first on PE Hub.

Companies 209
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Talk Your Book: Betting on Duration

A Wealth of Common Sense

Today’s Talk Your Book is brought to you by the US Benchmark Series: On today’s show, we spoke with Alex Morris, Co-Founder and CIO of the US Benchmark Series by F/m Investments to discuss making bets on interest rates and duration risk. On today’s show, we discuss: Thinking about lengthening bond duration Making bets on interest rate movements Timing duration bets Asymmetries in the fixed-income marke.

Investing 112
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Quad-C sells MNX investment to UPS

PE Hub

Jefferies LLC served as advisor to MNX while White & Case LLP acted as legal counsel. The post Quad-C sells MNX investment to UPS appeared first on PE Hub.

Legal 209
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David Einhorn urges Vitesco to reject offer from rival German auto group Schaeffler

Financial Times M&A

Hedge fund boss tells EV specialist not to accept bid, which puts its enterprise value at €3bn, from competitor that has ‘missed the boat’

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Arcline-backed Signia Aerospace acquires manufacturer Meeker Aviation

PE Hub

Signia Aerospace is a provider of high-performance systems and specialized components for the aerospace industry. The post Arcline-backed Signia Aerospace acquires manufacturer Meeker Aviation appeared first on PE Hub.

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Manchester United investors left in dark over club’s fate, says top shareholder

Financial Times M&A

UK fund manager Nick Train lashes out at ‘extraordinarily convoluted’ sales process on FT’s Money Clinic podcast

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Bregal Partners exits dog treats brand TDBBS

PE Hub

The buyer was Central Garden & Pet. The post Bregal Partners exits dog treats brand TDBBS appeared first on PE Hub.

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What AI means for ESG

Financial Times: Moral Money

As governments ratchet up pressure around artificial intelligence, ESG investors are doing so too

Investors 106
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Enlightenment Capital-backed IntelliBridge snaps up cybersecurity software firm RevaComm

PE Hub

IntelliBridge is a provider of advanced technology solutions to homeland security, federal law enforcement, defense, and civilian agencies. The post Enlightenment Capital-backed IntelliBridge snaps up cybersecurity software firm RevaComm appeared first on PE Hub.

Capital 198
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KKR hails strong performance of its debut impact fund as it starts to put $2.8bn Fund II to work

AltAssets

Private equity giant KKR has more than tripled its dedicated impact investment firepower with the $2.8bn final close of its sophomore fund in the strategy. The post KKR hails strong performance of its debut impact fund as it starts to put $2.8bn Fund II to work first appeared on AltAssets Private Equity News.

Funds 98
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Z Capital-backed Eppinger appoints Smith as CFO

PE Hub

Eppinger is a maker of highly engineered OEM and aftermarket CNC tooling products and precision automation solutions. The post Z Capital-backed Eppinger appoints Smith as CFO appeared first on PE Hub.

Capital 197
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Ex-GE Ventures director pulls in first fund capital for hardware, software-focused Exposition Ventures

AltAssets

Exposition Ventures, a women-led VC firm founded by former GE Ventures director Karen Kerr, is eyeing up to $50m for its debut fundraise. The post Ex-GE Ventures director pulls in first fund capital for hardware, software-focused Exposition Ventures first appeared on AltAssets Private Equity News.

Capital 98
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Z Capital-backed Pink Taco recruits Miller as COO

PE Hub

Pink Taco is a dining brand. The post Z Capital-backed Pink Taco recruits Miller as COO appeared first on PE Hub.

Capital 197
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KKR closes second global impact fund at $2.8bn

Private Equity Wire

Private equity firm KKR & Co Inc has held the final close of its second global impact fund dedicated to investments that advance sustainability and social equity, with $2.8bn in capital commitments, according to a report by Reuters The report cites the fund’s co-heads Ken Mehlman and Robert Antablin as saying in an interview that more opportunities to deploy capital led to the fund attracting more than double the $1.3bn raised for its impact fund in 2020.

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Bain Capital to buy Guidehouse from Veritas for $5.3bn; Audax files countersuit against HIG over Mobileum

PE Hub

The gloves are off as Audax accuses HIG of mismanagement of Mobileum after HIG accused Audax of fraud. The post Bain Capital to buy Guidehouse from Veritas for $5.3bn; Audax files countersuit against HIG over Mobileum appeared first on PE Hub.

Capital 185
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Investec hires Head of GP Advisory as PE seeks alternative exit options

Private Equity Wire

Investec Bank (Investec) has established a dedicated GP Advisory team led by new appointee Stefano Manna as Head of GP Advisory, reflecting a growing demand from PE for alternative exit options amid a challenging dealmaking environment. Investec’s latest annual secondaries report, ‘Secondaries shine in turbulent times’, published earlier this year, found that more than half of managers in this area expect to be more active in GP-led solutions over the next 12 months, as IPO and M&A markets r

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Bain Capital to acquire consulting services provider Guidehouse for $5.3bn

PE Hub

Guidehouse has been owned by Veritas Capital since 2018. The post Bain Capital to acquire consulting services provider Guidehouse for $5.3bn appeared first on PE Hub.

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Alter Domus appoints COO

Private Equity Wire

Alter Domus, a provider of tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, has appointed Michael Janiszewski as its new Chief Operating Officer. In this role, Janiszewski will report to Doug Hart, Alter Domus Chief Executive Officer, and will also join Alter Domus’ Group Executive Board.

Debt 98
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Sterling Group-backed West Star Aviation snaps up aviation maintenance provider Jet East

PE Hub

West Star is a provider of maintenance, repair, and overhaul services to the business aviation industry. The post Sterling Group-backed West Star Aviation snaps up aviation maintenance provider Jet East appeared first on PE Hub.

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Voice of the Customer isn’t enough for value creation

Private Equity Wire

PARTNER CONTENT By Eli Diament Managing Director & Founder, Azurite Consulting Voice of the Customer (VOC) research helps PE firms evaluate the strength of a company’s existing customer relationships to identify strategies for retention and growth. It’s a useful part of investment discussions, but by its design, it is unable to address many critical questions pertaining to growth and a company’s true market position.

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NexPhase Capital taps King as operating partner

PE Hub

Most recently, King was CEO of former NexPhase portfolio company OmniSYS. The post NexPhase Capital taps King as operating partner appeared first on PE Hub.

Capital 155
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Bain closing in on $5bn Guidehouse deal

Private Equity Wire

Private investment firm Bain Capital is close to agreeing a deal to acquire Guidehouse, a consulting firm that advises government organisations and businesses, from Veritas Capital for $5.3bn including debt, according to a report by The Wall Street Journal. The report cites unnamed sources familiar with the matter as revealing that, barring any last minute delays, an agreement could be announced as soon as Monday.

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Sentinel Capital invests in Sodexo’s worldwide home care unit

PE Hub

The investment is supporting The Halifax Group's buyout of Sodexo. The post Sentinel Capital invests in Sodexo’s worldwide home care unit appeared first on PE Hub.