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PEP partners with Mirvac to acquire Serenitas for $1bn

Private Equity Insights

Pacific Equity Partners has agreed terms to acquire lifestyle communities business Serenitas, put up for sale by investment bank Goldman Sachs earlier this year. Rothschild and Herbert Smith Freehills are on the tools for PEP, while law firm Baker McKenzie is working for Serenitas, alongside Goldman.

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Banks ramp up leveraged buyouts as interest rates fall

Private Equity Wire

Investment banks, 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.

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AI piques private equity interest

Private Equity Wire

More than half of large PE firms are looking to acquire an artificial intelligence (AI) business, according to the second annual Global M&A Trends and Risks Report from global law firm Norton Rose Fulbright and M&A intelligence specialist MergerMarket.

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Ropes & Gray’s latest Partner promotions include several PE lawyers

Private Equity Wire

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 private equity and other private credit and private fund clients.

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Transcript: Anat Admati

The Big Picture

And then I asked him the following simple question because there are thousands of small banks in his country. In the financial crisis, let’s remember, Goldman Sachs and Morgan Stanley became bank holding companies. Previously, they were brokerage firms. ADMATI: They were investment banks. RITHOLTZ: Right.

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Transcript: Steven Klinsky

The Big Picture

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 private equity. KLINSKY: So I thought about a — and I did work for Larry Tribe in canon law for some time. RITHOLTZ: Oh, really?

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Australia’s QIC Private Equity names VP and promotes two 

Private Equity Wire

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 investment banking at the Royal Bank of Canada in London. Suen also serves as Director at QIC European Investment Services.

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