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Apollo, BC Partners, EQT pursue waste management deals; Provident expects healthcare deal volume to rise

Morning Hubsters,

Happy Fri-yay! John R Fischer here with the US Wire from the New York newsroom.

First up, a 6-deal listicle focused on waste management – a sector that has grabbed the attention of Apollo Global Management, BC Partners, EQT and Kinderhook Industries.

For our Friday Focus we’re looking at Italy, where Aksìa has completed an exit that is the first out of its Capital V fund.

Sticking with healthcare, we have some insights from Provident Healthcare’s Q4 2024 Market Update report.

We’ll finish things off with some promotions and new hires that PE Hub covered this week, including the return of a former senior member to Investcorp as its global head of private equity.

Added dimension

Private equity firms are investing in the waste management sector, thanks to factors including its resilience against economic ups and downs, an influx of new technology and the sector's fragmentation, which makes it ripe for consolidation.

In May 2024, PE Hub highlighted six deals in the waste management sector. Reporter Iris Dorbian has now rounded up another six, from that period to now.

Upgrade to the premium version of the Wire to read the full list.

Friday Focus

Rising chronic conditions and air pollution, changing lifestyles, home care demands and a growing aging population are driving investments in the respiratory medical device sector.

One firm that recognizes this is Milan-based Aksìa,which this past week completed the sale of MIR, a portable respiratory device provider based in Rome and the current global reference player in the spirometry sector, both for professional and personal use.

Premium subscribers can learn more.

Growth momentum

Sticking with healthcare, the fourth quarter of 2024 was the most active in the last 18 months for large transactions, according to investment bank Provident Healthcare’s Q4 2024 Market Update report.

For my takeaways from the report, take a look at the premium Wire here.

Hires, promotions and returns

January is a time for new hires and promotions at many companies, including PE firms. This week, PE Hub saw several new faces at various firms, as well as old ones, like that of Daniel Lopez-Cruz who has returned to Investcorp as its global head of private equity.

Here are some other appointments and promotions that PE Hub covered this week:

• Flexpoint promotes Heyde, Hilbrich and Purcell to principal
• Carrick Capital promotes Delaney to managing director and partner
• The Chernin Group taps Hoffman as partner to lead firm’s IR and capital formation
• AIP promotes four new partners
• Swander Pace Capital promotes Litt to managing director and Kania to portfolio operations director
• Angeles Equity Partners appoints Freedman as operating partner
• Kainos Capital promotes Bissot to managing director
• Macquarie Capital appoints Farkas as managing director

Upgrade to a premium subscription to read more about Lopez-Cruz’s new role and these other new appointees. 

That’s it for me. As always, if you have any questions, thoughts or want to chat, please email me at john.fischer@pei.group.

Nina Lindholm will be on Europe Wire duty on Monday, and MK Flynn will bring you the US Wire on Monday.

Cheers,

John

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

New Mountain Capital is launching its internal secondaries strategy that will focus on GP-led continuation fund deals, the latest in a wave of traditional private equity managers expanding into the burgeoning secondaries market. (Buyouts)

Oregon State Treasury is considering offloading some of its private equity investments onto the secondaries market to rebalance its portfolio. (Buyouts)

Blackstone, the world’s biggest private equity fundraiser according to the PEI 300, is aiming to launch new vintages across several of its existing strategies. (Private Equity International)

StepStone’s real estate secondaries fund could get a boost from the New Jersey State Investment Council, with the LP proposing an up to $400 million commitment to a separately managed account managed by the alternatives firm. (Secondaries Investor)

Tokenization and blockchain have arrived for Apollo Global Management’s private debt offering, following the announcement that it is partnering with Securitize, a Miami-based tokenization platform operator, to offer a debt feeder fund based that uses the technology. (Private Debt Investor)

There have been an abundance of deals announced in the last year in the supplements sector. PE Hub gives a breakdown of eleven of those investments in reverse chronological order.

Former Apollo Global Management managing director Olga Kosters has re-emerged at Chicago credit manager Antares Capital as it seeks to expand further into secondaries. Kosters joins Antares as managing director and head of credit secondaries, and will oversee the expansion of its credit secondaries strategy. (Secondaries Investor)

The Danish Export and Investment Fund is ready to step up and expand financing capacity for global infrastructure project, including in the US. (Infrastructure Investor)

New York-based venture capital firm Alpaca’s newly formed real estate management arm has raised over $100 million in commitments to date for its inaugural fund, PERE has learned.

Five areas of focus for H1: Exits, regulation and the relationship between sustainability and performance are among priority areas New Private Markets has identified for the months ahead.

Deals

They said it

“We believe this transaction will provide the environmental services business with greater flexibility to pursue organic and inorganic growth opportunities as an independent business, while also taking advantage of the strategic, value-added resources and structuring capability of the Apollo platform.”

— Craig Horton, partner at Apollo Global Management, on Apollo’s and BC Partners’ acquisition of GFL’s environmental services business.

Today's letter was prepared by John R Fischer

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