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EQT, KKR, Nordic Capital, Thoma Bravo bank on MedTech; Lyric Capital signs hitmakers like Taylor Swift

Good morning, dealmakers.

MK Flynn here on a sunny Monday in New York. I spent yesterday afternoon at the Brooklyn Botanic Garden, and it was lovely to see Spring in full bloom!

This morning, we’re looking at deals flourishing in two very different sectors: MedTech and music rights.

We’ve got Deep Dive into a MedTech deal, featuring an interview with Nordic Capital, and a roundup of 10 recent deals in the sector in the US and Europe.

In music rights, we’ve got a Deep Dive on Lyric Capital, which has snatched up the rights to a wide range of musical artists from Frank Sinatra to Taylor Swift.

Saving lives, saving money

“Medtech is an interesting area to invest in,” Nordic Capital partner Jonas Agnblad told PE Hub Europe’s Nina Lindholm in an interview.

“There’s room for outsized growth driven by the high general pace of innovation.”

Subscribe to PE Hub to read the interview.

MedTech listicle

The healthcare industry’s adoption of technology, accelerated by the pandemic, has attracted significant interest from private equity investors in the last few years, writes PE Hub Europe’s Irien Joseph. The MedTech sector is likely to gain even more traction, given the rise in consumer awareness and advancements in technology.

With private equity firms mixing it up with pharma software, tele-diagnostic companies, medical device makers and others, we have witnessed some healthy dealflow in the MedTech sector across the US and Europe.

Irien identified 10 MedTech deals announced so far this year on both sides of the Atlantic.

Subscribe to PE Hub to gain access to the 10 deals.

Start spreading the news

Investing in music royalties and copyrights has become a popular trend in private equity over the past few years, and Iris Dorbian has been tracking the investments closely. A key reason for the sector’s appeal is its recession-resistant ability to provide stable cashflow amid a market downturn.

For Lyric Capital co-founders Jon Singer and Ross Cameron, that was the case when the two former music executives and investors formed the New York buyout shop in 2019. 

To learn about Lyric’s strategy – and how the firm amassed the rights to Elvis Presley, Frank Sinatra, The Who, Madonna, Taylor Swift, Whitney Houston, Jay-Z and Eminem  – read Iris’s story (subscription required).

On that note, I’ll sign off.

Until tomorrow,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Brookfield Asset Management is using a large balance sheet and “some of our best relationships” in the institutional LP community to do “a few club deals,” David Aiken, managing partner and head of long-term equities, told Buyouts. The goal, he said, is to further develop the strategy and “build out a track record” prior to contemplating a potential debut offering.

As Thoma Bravo prepares to launch its next major fundraising cycle later this year, the firm is quietly marketing its first-ever European-focused pool to expand its reach in the region, sources told Buyouts.

TowerBrook Capital Partners has launched a private equity impact strategy and begun deploying capital, acquiring controlling stakes in telecom infrastructure company TXO and electric vehicle charge point producer Envevo. (New Private Markets)

BTG Timberland Investment Group head Gerrity Lansing says increased appreciation of forestry’s sequestration potential, new entrants and shifting geopolitical sentiment are helping bring about an exciting time for timberland. (Agri Investor)

As EQT's 'impact-driven' fund becomes the largest pool of generalist private equity capital in the market, partner Simon Griffiths and impact head Jen Braswell talk through the fund's 'particular relevance' to family wealth. (New Private Markets)

LCM Partners, the London-based pan-European fund manager, has announced the closing of its latest credit opportunities strategy on €4.1 billion. The strategy comprises a commingled fund and several separately managed accounts. (Private Debt Investor)

The Sacramento County Employees’ Retirement System has sold stakes in three HarbourVest Partners funds as part of a plan to address its overallocation to private equity. (Secondaries Investor)