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Generative AI in your dealflow; TA backs healthtech; family office survey

Good morning, Hubsters. MK Flynn here with the Wire.

Score another point for ChatGPT and generative AI.

Nvidia, which makes chips used in developing AI and other computing-intense applications, earlier this morning announced $11 billion in sales for the current quarter, making it the best ever quarter for the chip maker.

At PE Hub, we’d love to hear how you’re looking at generative AI in your dealflow.

Have you started taking advantage of the technology yet in your deal sourcing and/or due diligence? How do you plan to counteract the errors the technology will inevitably make with human intervention?

I’d love to hear your thoughts on how you’ll be using AI in your dealflow. Email me at mk.flynn@peimedia.com.

And now back to our regularly scheduled programming on today’s PE deal news….

TA Associates just revealed an interesting healthtech transaction earlier this morning.

Subscribers to PE Hub can read all about the deal by clicking here.

And BlackRock is out with the results of a survey about how family offices are reevaluating their exposure across asset classes, especially private markets, “in response to a new market environment defined by heightened volatility, rising interest rates, geopolitical tension and rising protectionism.”

Want to learn about how family offices are changing their investment strategies and which asset classes will get a boost?

Subscribe to the premium version of PE Hub’s Wire.

That’s it for today.

Obey Martin Manayiti will be back with tomorrow’s Wire, and then we’re off for the Memorial Day weekend and the unofficial start of summer.

Note: There will be no Wire on Monday. I’ll be with you on Tuesday.

All the best until then,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Abbott Capital Management is looking to raise at least $450 million for its third secondaries fund, coming back to the market after it closed its last secondaries offering in 2021. (Buyouts)

Partners Group is planning its third impact fund, a multi-asset-class evergreen vehicle, New Private Markets has learned. It is also preparing to reach a first close on its second impact fund, PG Life II, sources told NPM.

Demopolis Equity Partners, an investor in mid-market technology companies, is seeking $300 million for a debut offering, sources told Buyouts.

Wafra and Investcorp have teamed up on a GP stakes deal to partner with MML Capital as the mid-market-focused investment firm looks to its next stage of growth. (Private Equity International)

Fidelity Investments is launching a new credit fund, a closed-end interval fund that will be available to financial advisers 25 May. This continues the financial giant’s move into alternatives in general and into the private debt space in particular. (Private Debt investor)

Lean compliance teams are forcing chief compliance officers to find technological solutions for everyday tasks, panelists at PEI’s Private Funds Compliance Forum said on Tuesday. (Private Funds CFO)

Secondaries Investor Law Firm Survey 2023: GP-leds dominate as a new firm takes top spot.

Julia Mattox, head of IR at Capricorn Investment Group, says the impact community should not let 'perfect be the enemy of good' when it comes to the voluntary carbon market. (New Private Markets)

ESG or sustainability-related covenants are on the rise in private credit, says Sarah Miller, senior vice-president at investment consulting firm Redington. (New Private Markets)

UK-based credit investor Blazehill Capital has held a close of its second fund at £250 million. (Private Debt Investor)