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| | | Why does every PE firm name sound the same? |
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A private equity firm could decide to call itself âThe League of Extraordinary Software Investors.â It could call itself âCanadian Gladiatorsâ or âThe Galactic Confederation of the Crab Nebula and Adjacent Sectors.â It could probably call itself âThe Beatles,â if the founders weren't scared of a little legal action.
So why does every firm's name sound the same? |
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| | | | | | | | | | | Some highlights from the past week's content:
⢠Is there any growth in the pace of growth investments? Yes, and no.
⢠According to our latest data from 2Q, debt levels are much higher for transactions involving companies with EVs below $250 million. We explored some of the ramifications here. |
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⢠EQT recently closed its first US mid-market fund on $726 million, and the firm has already used the vehicle to make a pair of acquisitions. Where does the Sweden-based investor rank on our list of the top 9 European investors in US companies?
⢠Touching on GP strategies, the role LP consultants play in the fundraising process and more, we interviewed Eric Zoller of Sixpoint Partners about the latest trends in PE fundraising. |
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| | | | | | | | | | | KKR makes a cameo in this rundown of the way corporate lobbyists influence the research of think tanks. [The New York Times]
Is Russia interfering in the American presidential election? Plenty of signs point to the answer being yes. If so, Vladimir Putin and his government would just be following the US’s lead. [The Washington Post]
A journey to Kathmandu to meet the happiest man in the world. [GQ]
Survey data reveals that middle-market executives are increasingly open to the idea of selling themselves to private equity firms. [Bloomberg] |
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| Since yesterday the PitchBook Platform added... | | 258 Deals | 1091 People | 445 Companies | 10 Funds |
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| | | 2006 Vintage US Buyout Funds with Materials Investments |
| | | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 1.53x Median TVPI | $3.21B Average Amount Distributed |
| | | | *IRR: net of fees | | 49 Funds in Benchmark » |
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| | | Blackstone, New Mountain invest $575M in JDA |
| | | Application Software | Waukesha, WI | Recapitalization |
| Blackstone and New Mountain Capital have completed their previously announced recapitalization of JDA Software with a $575 million equity investment. The deal reduces JDA's interest charges by about $80 million per year. The company is a provider of retail and supply-chain software used by over 4,000 customers around the globe. |
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| | | | | | | | | Great Point backs Clinical Supplies Management |
| | | Logistics | Fargo, ND | PE Growth |
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| | | Monarch lands £165M lifeline |
| | | Air | Luton, UK | Recapitalization |
| British airline group Monarch has announced a £165 million investment from Greybull Capital, which has backed the business since acquiring a 90% stake for £125 million in 2014. Monarch will use the financing to renew its licenses and fund further growth amid rumored financial difficulties. |
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| | | | | | | | | Oak Hill, Ardian ink SBO pact |
| | | Containers and Packaging | Trezzano Sul Naviglio, Italy | Bolt-on |
| Oak Hill Capital Partners portfolio company Berlin Packaging has agreed to acquire Bruni Glass from Ardian, the company’s majority shareholder since 2012. Bruni is a supplier of specialty glass packaging for the food & beverage industry, while Berlin Packaging is a general supplier of plastic, glass and metal containers and closures. |
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| | | Sun Capital exits Critical Flow for $210M |
| | | Industrial Supplies | Sandy, UT | Corporate Acquisition |
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| | | Kayne Anderson closes seventh fund on $2B |
| | | Kayne Anderson Capital Advisors has closed Kayne Anderson Energy Fund VII with approximately $2 billion in commitments. The firm will use the vehicle to continue its strategy of investing in the North American upstream oil & gas sector. |
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| | | | | | | | | Arsenal adds to cache with $1.3B Fund IV |
| | | Arsenal Capital Partners has closed its fourth flagship buyout fund on its $1.3 billion hard cap. The lower-middle-market investor in the specialty industrial and healthcare industries previously closed its Arsenal Capital Partners III vehicle on $875 million in 2012. |
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| | | Dan OâKeefe rejoins Apax |
| | | After spending the past six years at Technology Crossover Ventures, Dan O’Keefe has joined Apax Partners as a managing partner, returning to the firm where he began his growth-equity career in 1999. O’Keefe will be based in New York and focus on growth-stage companies in the consumer internet, software and technology-enabled services sectors. |
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