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The Wire July 1, 2021
OMERS PE preps sales of Forefront Dermatology, PE firms look for models on navigating persistent inflation Happy Thursday!
OMERS Private Equity is preparing a sale of Forefront Dermatology, working with Harris Williams as financial adviser on the process, writes Sarah Pringle on PE Hub today. Read it here on PE Hub.
And, check out our deep dive on private equity and inflation. Without hard evidence to reference on best practices during persistent inflation, the industry must use proxy examples over the past decade that can help shape the way forward, according to Jason Thomas, managing director and head of global research at Carlyle Group.
“The scenarios I look back to are not 1965 to 1979… we can look back to the way that inflation risk became a phenomenon in the last 10 years,” Thomas says. “Go back to the Taper Tantrum in 2013, go before that, in 2010 and 2011, the amount of people suggesting Fed policy was too accommodative and we were risking a massive surge in inflation. This was cause for concern for many investors.”
That’s it for me! Don’t hesitate to hit me up with tips n’ gossip, feedback or just to talk through your issues (it’s vital to communicate, as I’ve learned!) at cwitkowsky@buyoutsinsider.com, or find me on LinkedIn.
Read the full wire commentary on PE Hub...
HOUSEKEEPING: Calling all next-gen firms and their investors! We need your participation in our fifth-annual survey of emerging managers and survey of emerging manager investors. As thanks, we'll make sure you get a complimentary copy of the "Emerging Manager Report 2021," based on these surveys (once it's published this fall). All responses are kept confidential. The survey deadline is July 16.
Also of note (may require subscriptions) Knowledge: Leeds Illuminate, an affiliate of Leeds Equity Partners, is raising its debut growth equity offering with a $500 million target. Leeds Illuminate was formed by Susan Cates and partner Elizabeth Chou. Read it here on Buyouts.
Stake: Apollo Global Management is taking a stake in emerging manager Motive Partners in a deal that values the smaller firm at $1 billion, according to WSJ. Apollo will take a 24.9 percent stake in the firm and also become an investor in Motive’s funds. Check it out on WSJ.
Energy: KKR and Crossover Energy Partners formed a partnership that will focus on clean energy projects. Crossover will oversee origination, development, financing, construction and long-term operation of clean energy projects in collaboration with KKR’s infra team. Read it here.
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They said it “We don’t need to go back to actual inflation… we’ve had many experiences in the last decade where there were a lot of people concerned about inflation. How did we manage through that?” Jason Thomas, managing director and head of global research at Carlyle Group, on navigating potential inflation.
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