Laden...
The Wire Feb. 11, 2021
Sun Capital eyes agtech, Apollo SPAC raises $600m, Oaktree and Advent back Thrasio
Morning!
We're almost at zero day -- tomorrow (Friday Feb. 12) is the deadline to send us your best exit from 2020 for our Deal of the Year awards. Submissions have already started trickling in this week (thanks to all those send them in early!)
Starting next week, editors from Buyouts and PE Hub will sequester in a symbolic smoky back room to go through the rigorous process of vetting the submissions. It's not easy, Dear Reader, but we're here for you.
Send me your awards submissions directly at cwitkowsky@buyoutsinsider.com. And go here for the rules and regulations.
Read the full wire commentary on PE Hub.
That's it! Have a great rest of your day. Hit me up with tips n' gossip, feedback or whatever at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.
Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards. Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian. If you have additional questions, email Private Equity Editor Chris Witkowsky at cwitkowsky@buyoutsinsider.com.
Also of note (may require subscriptions) Contrarian: Jim Coulter, co-founder and co-CEO of TPG, said private equity needs to embrace innovation as LPs have become more discerning about choosing their relationships. Read it here on Buyouts.
Lending: Twin Brooks Capital Partners may be weeks away from closing its fourth direct lending fund, targeting $2 billion with a $3 billion hard cap. The fund has secured around $1.2 billion. Check it out on Buyouts.
Big numbers: SPACs are bigger than traditional IPOs right now, having raised $38.3 billion since the start of 2021, compared with $19.8 billion by IPOs, according to data from Dealogic. Read it here on WSJ.
PE Deals
They said it “The reality of this industry is it’s almost designed to destroy innovation. The best way to raise money is to say, ‘five years ago I did this deal, I made a bunch of money doing it, and if you give me money, I’ll do the same deal for the next five years.’ That’s a great way to raise money, but it’s a terrible way to invest.” Jim Coulter, co-founder and co-CEO of TPG, told Oregon State Treasury‘s state investment council January 28.
Today's letter was prepared by Chris Witkowsky Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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