Last chance to access PE Hub Europe for free; dealmaking slowed down a low last year

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Last chance to access PE Hub Europe for free; dealmaking slowed down a low last year

Good morning, Hubsters. MK Flynn here with Tuesday’s Wire.

Today, we’ll take a close look at PE Hub Europe’s stellar coverage of European deals, as our period of complementary access comes to an end tomorrow.

But first, some new data just came out this morning demonstrating what you undoubtedly already know:

Dealmaking slowed down a lot last year.

Headwinds. Global M&A activity and equity issuance fell sharply in 2022 after reaching some high marks in 2021, according to S&P Global Market Intelligence’s report.

The total value of global announced M&A fell 35.8 percent year over year to $2.983 trillion, while the total value of global equity issuance plummeted 66.6 percent to $351.76 billion.

Global deal values in 2022 recorded the second lowest annual totals for M&A announcements since 2013 and lowest totals for equity issuance since at least 2006.

Last chance: Today is the last day to access PE Hub Europe’s outstanding private equity deals coverage sitewide, for free. Beginning tomorrow, February 1, your access will be limited unless you are a subscriber.

To give you a taste … In this morning’s Dealflow (which is akin to the Wire), the team covered:

• The latest move in the competitive contest between Bain Capital and Triton Partners for Finnish construction firm Caverion.

• The Riverside Company’s add-on acquisition of a data and analytics provider for the energy industry.

• People moves at AnaCap Financial Partners.

Other recent coverage includes:

• Editor Craig McGlashan’s interview with Juergen Pinker, senior managing director of Blackstone, about the firm’s investment strategy in energy transition, including backing Esdec, a provider of rooftop solar mounting systems.

• Reporter Nina Lindholm’s roundup of 5 deals that use technology to solve fleet management problems.

• Assistant reporter Irien Joseph’s story on Permira’s purchase of the majority stake in Acuity Knowledge from Equistone.

Don’t miss out. Later this week, the team will do a deep dive on Energy Capital Partners’ acquisition of Biffa.

To continue with unlimited access to our deal transaction coverage, Q&As with prominent sources in PE dealmaking, and more, we are offering Wire readers promotional pricing for a limited time here.

Finally, following up on deal talks we reported on yesterday, DWS today announced it has agreed the transfer of its Private Equity Solutions (PES) business to Brookfield Asset Management.

You can read analysis of the move by our colleagues at Secondaries Investor here.

Buyouts’ Chris Witkowsky will write the Wednesday Wire. Craig McGlashan’s on duty Thursday this week, and Obey Martin Manayiti will finish up the week on Friday with a fresh listicle.

I’ll see you back here on Monday.

Happy dealmaking,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Demand for private wealth investment is growing at breakneck speed. At the head of this expansion sits Blackstone’s Joan Solotar, whose plans for the investor base could see it become one of private equity’s biggest sources of capital. (Private Equity International)

A private markets investment platform launched by a finance academic aims to disrupt how investors gain access to private markets via access to funds managed by the industry’s largest managers. New York-headquartered NewVest has rolled out what it calls the first-ever private markets index fund, the Private Equity 50 Index Fund (PE 50). (Private Equity International)

Eight people who will shape sustainable private markets in 2023: Some will run game-changing investment programs, while others will shape the frameworks that define sustainable investment. (New Private Markets)

BC Partners returned to the market with a third opportunistic credit offering, as private debt continues to make gains in a rising-rate environment. (Buyouts)

Fund managers are making progress on ESG, according to New Private Markets' latest Perspectives study. But on DE&I issues, investors are far from happy.

"Private-credit fund managers such as Blackstone Inc., Carlyle Group Inc. and Centerbridge Partners are increasingly forming partnerships with insurers, or buying them outright. Call it the merger of slow money and fast money." (Wall Street Journal)

The SEC "has urged better disclosures for investors who buy company stock through private placements, citing the collapsed cryptocurrency exchange FTX as an example of the dangers of opaque offerings." (Financial Times)

"Private-equity managers have complained the past few years about the industry’s talent shortage—the challenge of hiring top-flight workers in such a well-paid, fast-growing field. But now, with a glut of Wall Street talent looking for work, buyout firms are mostly taking a pass on new hires." (WSJ Pro)

"Cleveland Integrity Services, a pipeline inspector, files for Chapter 11. Top lender Owl Rock Capital has agreed to buy the assets of the oil and gas infrastructure service provider out of bankruptcy." (WSJ Pro)