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The Wire May 14, 2021
Genstar buys Vector Solutions, Carlyle makes 3.5x on NetMotion, Vistria's Supplemental Health considers sale, Apax bets on premium pet foods
Happy Friday!
Tech buzz: The Carlyle Group expects to generate a total return of 3.5x its equity investment on the sale of NetMotion, selling the provider of connectivity and security software after a five-year hold, PE Hub has learned. In other notable technology news… Genstar Capital announced this morning an agreement to acquire a majority stake in Vector Solutions, a provider of Software-as-a-Service for training, risk management, workforce management and operational readiness. Existing majority investor Golden Gate Capital will remain a significant shareholder in the business.
Exploring options: Vistria Group is mulling a sale of Supplemental Health Care, which staffs healthcare providers in settings ranging from the classroom and home to clinics and correctional facilities, five sources familiar with the matter told PE Hub. The company has seen immense growth through the pandemic, as witnessed...
Read the full wire commentary on PE Hub...
That’s it! Have a great weekend ahead. As always, hit me up with that good gossip, tips, feedback or whatever at springle@buyoutsinsider.com.
Also of note (may require subscriptions) GP-led: HarbourVest Partners and Ardian emerged as co-leads on a large process run by General Atlantic to move four assets out of older capital pools and into a continuation fund, sources told Buyouts. GA’s deal involves four assets: Argus Media, Red Ventures, Sanfer and Hyperion Insurance Group. Read it here.
Distressed: Oaktree Capital Management’s 11th flagship distressed debt offering will likely wrap up by the end of June, a partner Brookfield Asset Management said. If Oaktree’s latest flagship fund meets or surpasses the target, it will be the second-largest distressed debt vehicle on record, according to Buyouts’ data. Read more here.
Climate: PwC’s 2021 Global Private Equity Responsible Investment Survey, a study of the sustainability, ESG and responsible investment practices of 209 private equity firms across the world, provides a neat snapshot of where PE firms are when it comes to climate. Check it out on New Private Markets.
PE Deals
They said it
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Bruce Flatt, CEO of Brookfield Asset Management, on how the firm's energy transition vehicle is intended to address growing demand from LPs inspired by freshly-minted ESG policies.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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