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The Wire

Private equity deal news and insights from the London newsroom

Nov 22, 2024

 

Motive Partners’ Rob Heyvaert says ‘fintech too big to ignore’; HIG Capital exits Deenova

Hello Hubsters,

 

It’s Irien Joseph bringing you the Europe edition of the Wire from the London newsroom.

 

Financial technology has led the way in tech deals, propelled by factors such as the growth of digital banking, AI adoption, mobile payments and the growing trend of embedded finance. To highlight this, we’ve put together a list of 15 fintech deals with insights from Motive Partners’ Rob Heyvaert.

 

Counterfeit medicines are a major health risk due to their ineffectiveness and possible harmful ingredients, making advanced track-and-trace systems necessary to improve safety in pharmaceutical supply chains. Today, we feature an exit in the sector as HIG Capital has agreed to sell a value-added automation and traceability services provider for hospitals.

 

Lastly, I will highlight some key takeaways from Schroders Capital Crystal Ball 2025 investment outlook event.

 

Powerful force

Financial technology is a secular trend too big to ignore and a “powerful force” shaping the future, Motive Partners founder and managing partner Rob Heyvaert told PE Hub.

 

This is evident in the sector’s deal activity, with PE Hub reporting 15 deals in the US, Europe and Africa since July.

 

Read the premium version of the Wire to find out the factors behind the sector’s growth and the deals announced in the sector.

 

For more on fintech, check out this deep dive into TA’s acquisition of a co-controlling stake in Harvest.

 

Heyvaert was featured on PE Hub’s Pride Month series last year. He spoke about his career in private equity and how the industry still has a “long way to go” for people in the LGBTQ+ community to truly feel welcome and comfortable.

 

Traceability tech

HIG Capital has agreed to sell Deenova, a company that provides automation and traceability services to hospitals.

 

Favorable alignment

Schroders Capital foresees 2025 to be an “attractive” environment for new private market investments, presenting opportunities for both return and income generation, as noted by the firm’s chief investment officer Nils Rode, during theSchroders Crystal Ball 2025 investment outlook event.

 

Check out the premium version of the Wire to find out the key takeaways from the event.

 

That’s it from me. John R. Fisher will be with you in the New York morning with the US edition and Craig McGlashan will be on European Wire duty next week in London.

 

Warmly,

 

Irien

 

Read the full Wire commentary on PE Hub ...

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Today's must reads

> 15 fintech deals: Private equity capitalizes on AI opportunity More...
> Vistria's Andréa Poldoian: Skills gap drives high demand for edtech More...
> Serent leaned on international growth with Kore before exit More...
> Bain Capital Double Impact inks crop nutrition deal; focuses on buyouts More...
> Kohlberg to seek recap investors for PCI Pharma Services in early 2025, sources say More...

Also of note (may require subscriptions)

 

PE’s co-investment train shows no sign of slowing: The financial and second-order benefits to LPs and GPs appear to outweigh any concerns over the sheer volume of co-investment capital available to sponsors. (Private Equity International)

 

AIMCo’s private market expansion was ‘excuse’ for leadership purge: A large share of AIMCo costs deemed excessive by government authorities were incurred to ramp up the pension system’s exposure to alternative assets, sources said. (Buyouts)

 

CDPQ’s former Asia-Pacific infra head targeted in US bribery charges: Cyril Cabanes was charged alongside two other CDPQ infrastructure execs, as part of a wider investigation involving the Adani Group. (Infrastructure Investor)

 

CalPERS makes climate solutions definition ‘more conservative’ as allocation hits $53bn: Fund increases rigour of solutions taxonomy as it shares progress update on landmark sustainable investment programme. (New Private Markets)

 

Bain Capital closes on special sits fund on $5.7bn: The latest fundraise beats its target and brings the second vintage of the strategy to $9bn. (Private Debt Investor)

Deals

> 15 fintech deals: Private equity capitalizes on AI opportunity More...
> Fortress Investment Group acquires industrial manufacturer TH Holdings More...
> Hg invests in fintech firm Empyrean Solutions More...
> Arcline-backed DwyerOmega adds on Sensing Technologies More...
> PE-backed Mediaocean to acquire ad tech firm Innovid for $500m More...
> Renovus Capital-backed SolomonEdwards picks up financial crime consulting firm Dominion Advisory Group More...
People
> Transom Capital taps Goldstein as IR and marketing head More...
> CDPQ names Sharon White as managing director and Europe head More...
> HCI Equity-backed Driven Distribution taps Johnson as CEO More...

They said it

“While financial institutions are focused on reducing costs as interest rates decline, we believe this will lead to technology outsourcing, digitization and other ways of reducing systemic cost structures, which is a great opportunity for fintech – and our portfolio of specialty companies.”

— Rob Heyvaert, founder and managing partner, Motive Partners

 

Today's letter was prepared by Irien Joseph

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