Hamilton Lane teams up with Apollo- and Motive-backed Daphne; Diversis reportedly looks towards continuation strategy

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Hamilton Lane teams up with Apollo- and Motive-backed Daphne; Diversis reportedly looks towards continuation strategy

Hello, Hubsters! Rafael Canton here, bringing you the Wire on this Wednesday.

Earlier this morning, Hamilton Lane announced an intriguing investment in technology aimed at private equity firms. We’ve got an interview with the firm about how the deal aims to connect GPs and LPs and make the fundraising process more efficient.

On a related note, also out today is a new episode of PEI Group’s Disruption Matters podcast, which explores the role technology plays in due diligence.

Given the elusive exit environment, GPs are increasingly turning to continuation vehicles. Diversis is reportedly running a continuation process on one of its portfolio companies.

Let’s start with the deal of the day.

Pitch deck

Hamilton Lane announced earlier this morning an investment in Daphne Technologies, a company that facilitates the distribution of alternative assets and increased efficiency of the fundraising process. As part of the deal, Daphne is integrating with Cobalt, Hamilton Lane’s proprietary private markets data, analytics, forecasting, and diligence platform.

To learn more about the deal, PE Hub reporter Obey Martin Manayiti reached out to Hamilton Lane’s Griff Norville, managing director and head of technology solutions.

Subscribe to the premium version of the Wire to learn more about the investment.

Holding on

PE Hub and Buyouts have been monitoring how firms are turning more to single-asset continuation vehicles as a way to deliver proceeds to limited partners in older funds at a time of slow exit activity.

Diversis Capital Management is running a process to extend its hold over SaaS-focused portfolio company Tempo, sources told Buyouts’ Chris Witkowsky.

The use of continuation vehicles is rising. Earlier in June, Gryphon Investors looked to extend its investment in Vessco Water in a deal that could total up to $700 million. In May, Tail End Capital invested in a continuation fund managed by Stellex Capital Management to support the growth of Fenix Parts, a recycler and reseller of original equipment manufacturer automotive parts.

Upgrade to the premium version of the Wire to learn more about this single-asset continuation vehicle news.

Due diligence

The Disruption Matters podcast miniseries is back for the second episode of its third season. On this episode, which is sponsored by AlixPartners, the podcast uncovers the role technology is playing in the due diligence process.

Guests on this edition of the podcast include Anders Thulin, partner and head of digital and technology practice at Triton Asset Management; Andrew Tarver, founding partner of Motive Partners; and Sofia Gertsberg, managing director of quantitative investment science at HarbourVest.

Subscribe to the full version of the Wire to learn more about the podcast.

That’s it from me today. If you have any thoughts, questions or want to chat, please email me at rafael.c@pei.group.

Michael Schoeck will be with you tomorrow.

Cheers,

Rafael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Alberta Investment Management Corp is nearing the sale of a portfolio of private equity fund stakes valued at around $900 million, sources told Buyouts.

Palladium Equity Partners, an investor in businesses that capitalize on the Hispanic market, is seeking $1.5 billion for a sixth flagship buyout offering. (Buyouts)

Although digital assets can sometimes seem very different to traditional ones, existing methods for finding fair value remain largely relevant. (Infrastructure Investor)

Knightsbridge Advisers is aiming to close its third venture secondaries fund by year end as the sector gains momentum amid steep discounts and increased investor interests. (Secondries Investor)

Launchbay Capital is “about halfway through” raising its debut venture secondaries fund, which is targeting $100 million, Venture Capital Journal has learned.

What are investors reading this summer? Senior executives from some of private equity’s biggest LPs including CalSTRS, Texas Teachers and QIC tell Private Equity International what’s on their summer reading lists this year.

They said it

“Accurate and timely data is crucial for institutional investors to make informed decisions about their alternative asset allocations. The challenges traditionally associated with sharing and collecting this information can significantly impact how asset managers, their investors, and channel partners navigate the fundraising process. This inefficiency is preventing this industry from scaling effectively.”

— Griff Norville, managing director and head of technology solutions, on the firm’s investment in Daphne