| View this email online The Wire April 22, 2021 Blackstone's growth strategy drives profits, Ontario Teachers, Stella Point to exit First American Payment Happy Thursday! Big payments exit this morning, with Ontario Teachers and Stella Point Capital agreeing to sell First American Payment Systems to Deluxe for $960 million. As well, Spectrum Equity led a $74 million growth investment in Empyrean Solutions alongside Information Venture Partners. TZP Group is finding opportunity in the mom-focused segment of the retail market. The firm closed a platform deal for Quintessential Tots, which specializes in travel bags for infants. Check it out here. Read the full wire commentary on PE Hub... That's it for me, Dear Reader. As always, hit me up with feedback, tips n' gossip or Scotch recommendations at cwitkowsky@buyoutsinsider.com or find me on LinkedIn. Also of note (may require subscriptions) Expansion: Partners Group is building out its fundraising capabilities in the U.S. As part of that expansion, the firm last year hired ex-BlackRock executive John Ivanac as head of consultant relations within its client solutions business. Now comes news the firm is bringing on Andy Hayes, formerly of placement agency FirstAvenue Partners, to focus on institutional clients in Texas and the mountain states. Read more here on Buyouts.
Evolving: Secondary buyers are proposing new ways of ensuring sponsors stay aligned on GP-led deals, with a growing number of sponsors agreeing to take the initial economic hit if a deal underperforms. Terms on GP-led deals have become increasingly favorable to sponsors over the past year, according to a panel at PEI’s Investor Relations, Marketing & Communications Forum recently. Read it here on Secondaries Investor. Growth: Blackstone Group swung to record quarterly profit driven by its focus on growth companies, which helped its private equity portfolio climb by 15.3 percent, according to the WSJ. Read it here. PE Deals They said it “We feel as good about the business as we’ve ever felt in terms of the performance of the business and the response from our customers.” Jonathan Gray, president of Blackstone, talked to WSJ about the firm’s growth strategy. Today's letter was prepared by Chris Witkowsky Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 