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Riverside’s Stewart Kohl talks deal environment at NEXUS 2025; Healthcare tech offering PE opportunities

Good morning, Hubsters. Senior reporter Michael Schoeck here with the US edition of the Wire from the New York newsroom, filling in for Obey Martin Manayiti for a while.

PEI Group’s NEXUS 2025 summit is in full swing in sunny Orlando. This morning we have a day-one video interview clip with Riverside Company’s co-CEO Stewart Kohl, who spoke with PE Hub editor-in-chief MK Flynn about the deal market environment.

Next up we have a healthcare information technology update from John R Fischer.

And we’ll close out today with a deal announcement involving a healthcare technology add-on.

Bright sunshine forecast

“I understand right now there’s a dip, a bump in the road if you will, caused by a lot of volatility and even a feeling of perhaps chaos,” said Stewart Kohl, co-CEO at Riverside, referring to the current slowdown in dealmaking.

The conversation took place at PEI Group’s NEXUS 2025 summit on Monday.

To hear more about when Kohl expects deal activity to pick up, sign up for the premium version of the Wire.

And if you’re at NEXUS, feel free to shoot PE Hub editor-in-chief MK Flynn (mk.flynn@pei.group) and reporter Rafael Canton (rafael.c@pei.group) a message if you’re interested in meeting up.

Tech-enabled healthcare

Healthcare IT remains one of the most active subsectors for dealmaking in the healthcare industry.

Learn more about how revenue cycle management systems are recalibrating the fragmented third-party vendor healthcare market by signing up for the premium version of the Wire.

Clinical assessments

Keeping with healthcare technology for a moment, Clario, a portfolio company of Astorg, Nordic Capital, Cinven and Novo Holdings, announced a late Monday agreement to acquire WCG’s electronic clinical outcome assessments business for undisclosed terms.

That’s a wrap for me. Keep an eye out for the Europe edition of the Wire tomorrow from Craig McGlashan and the US edition from Rafael Canton.

Cheers,

Michael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Skandia PE head: LPs must think long term amid global volatility. Embracing the role of an LP means not trying to time markets or cycles, Stefan Fallgren, head of PE and infrastructure at the Swedish private pension manager, said at PEI Group's NEXUS event. (Private Equity International)

Grey swans and transition stories mark the year of the transport comeback. Having fallen out of favour for years, the sector has recently exploded with big-ticket deals. (Infrastructure Investor Deals)

Dawson opens NY office as it deepens relationships with US LPs. The move comes two years after the launch of Dawson's first overseas office in London. (Secondaries Investor)

Brookfield’s maiden Structured Solutions fund reaches $1bn final close. The new strategy will see Brookfield look to take positions in more mid-market-focused companies, valued between $500m and $1bn. (Infrastructure Investor)

PGIM Real Estate secures 60% of its target for Asia Fund V. The firm is also in the market with its Australia debt vehicle, which is expected to reach a final close at the end of 2025. (PERE)

Deals

They said it

“If you think about M&A, it’s the ultimate referendum on the future. If you thought the world was going to end tomorrow, you wouldn’t buy a company today. The world is not going to end, though. The fundamentals which had created the optimism going into the year are still mostly operative.”

— Stewart Kohl, co-CEO of the Riverside Company, on the current slowdown in dealmaking

Today's letter was prepared by Michael Schoeck

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