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The Wire Feb. 11, 2022
Deal of the Year deadline; KKR shops Internet Brands stake; Braemont marks debut deal Happy Friday, Hubsters. MK Flynn here, with this morning’s Wire.
Last chance. Today is the deadline to send in nominations for Buyouts’ Deal of the Year Awards. We’ll pick winners in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Send in your candidates ASAP to Chris at cwitkowsky@buyoutsinsider.com. And visit here for more info about the awards.
Minority stake. Chris has an interesting story about KKR’s seeking to sell a minority stake in Internet Brands, which operates popular consumer websites like WebMD.
Emerging manager. Earlier this month, Kirk identified Braemont as one of 12 emerging managers to watch, and earlier this week, the Dallas-based firm announced its debut deal. Aaron spoke with Braemont partner Jeff Volling.
Hip hop. Snoop Dogg, scheduled to perform in Sunday’s Super Bowl halftime show, announced yesterday that he bought Death Row Records brand from MNRK Music Group, backed by Blackstone.
Thought leaders. Looking for insights on today’s dealmaking landscape? Check out my ongoing series of Q&As with high-profile private equity professionals, including: • Pam Hendrickson, vice-chairman of The Riverside Company • David Grain, founder and CEO of Grain Management • Brent Gledhill, CEO and president of William Blair • Beatrice Mitchell, co-founder and managing director of Sperry, Mitchell & Co. • Robert Reifman, managing director, Lincoln International • Randy Schwimmer, co-head of senior lending at Churchill Asset Management and founder and publisher of The Lead Left
40 under 40. Private Equity International is calling for nominations for its fourth annual rising stars of private equity list. PEI’s 40 under 40: Future Leaders of Private Equity will be published online and in the Future of Private Equity Special in early May. Submit your nomination by end of day Thursday February 17 here. The list will feature individuals across five categories: Investor (LP); Fundraiser; Dealmaker; Lawyer; Operator.
That’s all for now. On to the weekend…. Are you ready for some football? And don’t forget the Super Bowl ads. Amazon Alexa’s reading the minds of Scarlett Johansson and Colin Jost is pretty funny.
Cheers, MK
Read the full wire commentary on PE Hub ...
Also of note (may require subscriptions) Brookfield Asset Management is set to close a debut global energy transition fund, something it views as a first step in building an ambitious climate strategy worth more than $200 billion. (Buyouts)
Brookfield is also "weighing a plan to spin out its asset-management business, with Chief Executive Bruce Flatt saying the operation could be worth as much as $100 billion." (Wall Street Journal)
As fund managers seek to tap into the potentially huge retail investor channel, insurance products may offer at least some of the answer. (Private Debt Investor)
Mercer said it has closed its sixth alternatives fund on more than $4.8 billion, with private debt accounting for some 40-45 percent of commitments. The latest fund includes a credit dislocation opportunities strategy. (Private Debt Investor)
Global Infrastructure Partners has carried out one of the largest-ever single-asset deals without bringing in outside investors. (Secondaries Investor)
"Thoma Bravo and other firms have made takeover approaches to Zendesk, which is also facing a proxy fight from an activist investor seeking to scuttle a proposed acquisition of SurveyMonkey’s parent company." (Wall Street Journal)
"Apollo Global Management Inc. is nearing a deal to acquire the point-of-sale terminal business of European payments company Worldline SA for close to $2.3 billion, according to people familiar with the matter." (Wall Street Journal)
"Peak Rock Capital, a private-equity firm focused on founder- and family-owned companies, is backing Ziyad Brothers, which owns and distributes Middle Eastern and Mediterranean food-and-beverage brands." (WSJ Pro)
PE Deals
They said it “I am thrilled and appreciative of the opportunity to acquire the iconic and culturally significant Death Row Records brand, which has immense untapped future value. It feels good to have ownership of the label I was part of at the beginning of my career and as one of the founding members.” — Snoop Dogg, owner, Death Row Records
Today's letter was prepared by MK Flynn 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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