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Providence Equity adds live music logistics provider GCL to its roster; JC Flowers to take debt collection agency public

Good morning Hubsters. Michael Schoeck back with you from the New York newsroom.

In today’s Wire we’ll highlight a deal announcement from Wednesday in the freight and logistics market involving a company I reported was for sale in April.

In the same vein, we’ll then have a weekly round-up of PE Hub’s ongoing companies for sale coverage, highlighting the logistics and industrials market as safe bets for 2025 exits.

And we’ll wrap up with an IPO announcement involving a consumer credit collections agency.

But first let’s check out a logistics provider that mainstream touring bands would have turned to.

A rock n’ roll exit

Freight and logistics service providers have been a safe bet for high valuation exits amid the deal slowdown environment. PE Hub was first to report on three transportation companies coming up for sale in the February edition of ‘On the block’ stories.

This year, PE Hub has covered two highly followed logistics providers for sale. Sign up for the premium version of the Wire to learn more about these companies for sale that resulted in deals.

PE Hub has been tracking live entertainment deals involving PE firms, including this recent listicle from Sophie Rose.

Companies for sale

This month I’m seeing an uptick in companies coming to market, based on conversations with confidential sources. So far in 2025, I’ve been briefed on about more than 110 companies expected to be for sale with PE firms as potential buyers. 

Subscribers to the premium version of the Wire can access weekly insights on company for sale themes.

Got tips on a company coming to market? Shoot me a note at Michael.S@pei.group.

Cashing in on consumer debt

IPOs have been pretty elusive this year, but one PE-backed company that is readying to go public might benefit from today’s economic uncertainty.

Jefferson Capital, a consumer credit collection agency network backed by JC Flowers, announced today it filed an S-1 registration statement with the Securities and Exchange Commission for a proposed IPO.

Sign up for the premium version of the Wire for more details for the IPO.

That’s a wrap for me. Keep an eye out for the Europe edition of the Wire tomorrow from Irien Joseph and the US edition from John R Fischer.

Cheers,

Michael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Greenoaks Capital, in the wake of a big win with its investment in cloud security company Wiz, is eyeing its next flagship pool with its largest target yet to back what it views as “generation defining” companies, three sources told Buyouts.

Buyouts has a Q&A with Todd Abbrecht, in which the co-CEO of Thomas H Lee Partners discusses a new sense of caution injected into the market by uncertainty, why THL is able to invest regardless of how events unfold, and the firm’s enviable track record of realizations.

KKR is looking to become a “one-stop shop” for hyperscalers across its global data center platforms, the group’s new head of real assets, Raj Agrawal, told Infrastructure Investor.

Investment funds ought to look for opportunities in companies that stand at the “intersection of multiple impact pathways” to earn steady returns over time, according to Steve Ellis, co-managing partner of the Rise Funds at TPG. “Companies that are at this intersection of impact, we believe, based on empirical data in our own portfolio, actually have the potential to have much more consistent growth, profit and revenue by virtue of that impact over time,” Ellis said during an address at the Impact Investor Global Summit in London on Wednesday.

In the most recent episode of The Private Debt Investor Podcast, managing directors and co-heads of North America for Oaktree’s Global Opportunities strategy Brook Hinchman and Jared Parker discuss what's top of mind as they deploy capital from the latest vintage of their opportunistic debt strategy.

ECP Growth, formerly known as Emil Capital Partners, has closed on its fourth flagship fund, using the event to launch its rebranding. The move is aimed at repositioning the firm’s investment strategy and could signal a shift to broader capital sources. (Buyouts)

An unclear economic picture has the Los Angeles City Employees’ Retirement System slowing down plans to close the gap between its portfolio’s 5.4 percent allocation to private real estate and its target of 7 percent. (PERE)

Small-deal specialist Kline Hill Partners has seen a managing director leave the firm as talent movement in the secondaries market continues at pace. Kline Hill managing director and co-head of GP solutions Raudel Yanez has left the firm and is on gardening leave, according to two sources familiar with the matter. It’s unclear where Yanez will be going next. (Secondaries Investor)

Pennsylvania-based Hamilton Lane has filed an initial registration statement with the Securities and Exchange Commission for its sixth interval fund, the latest entrant focused on private credit. (Private Debt Investor)

Munich Re Group’s asset management business MEAG and has led a consortium that will acquire 175,000ha of Swedish timberland for €900 million. (Agri Investor)

Deals

They said it

“We have a deep appreciation for and understanding of the [GCL] business, especially given our long history of investing in entertainment and sports.”

— Scott Marimow, managing director, Providence Equity Partners, on the firm’s majority acquisition of Global Critical Logistics from ATL Partners.

Today's letter was prepared by Michael Schoeck

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