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The Wire June 22, 2021
Sverica Capital-owned Women’s Health USA hunts for buyer, Crosspoint Capital invests in AI software provider Happy Tuesday!
Today, we bring you news updates from the tech and healthcare space. To start, we've got a scoop about a women's healthcare business that's in the second round of its sale process. Sverica Capital-backed Women’s Health USA (WHUSA) is looking to bring in a new majority investor, three sources told PE Hub. Nearly four years into its investment, the PE firm is seeking to expand the capital base without fully exiting the business, according to a person familiar with the process. Read PE Hub's full report.
Tech buzz: Crosspoint Capital Partners has invested in Everseen, with a vision of expanding the company’s unique AI technology beyond retail, the firm's managing partner Greg Clark told PE Hub. Everseen, based in Cork, Ireland, provides the world’s largest retailers with patented AI-powered computer vision software. A key component of the investment thesis: Crosspoint sees an opportunity to...
Read the full wire commentary on PE Hub...
That's it! Have a great week ahead, everybody, and as always, write to me at karishma.v@peimedia.com with any tips, comments or just to say hello!
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 2.
Also of note (may require subscriptions) Spotlight on special opportunities: Apollo Global Management is seeking $4 billion to $5 billion for a second hybrid-value fund, sources told Buyouts, as special opportunities strategies gain popularity among large private equity firms. Apollo Hybrid Value Fund II has so far collected $3.2 billion. Read it on Buyouts.
Investment in emerging sectors: Ontario Teachers’ Pension Plan’s venture capital arm will seek to invest up to $1.6 billion per year “in companies using technology to disrupt incumbents and create new sectors,” Teachers’ Innovation Platform North America managing director Rick Prostko told Agri Investor.
Direct investing for the win: Public Sector Pension Investment Board’s private equity strategy outperformed last year, lending further validation to a recent shift toward direct investing.PSP Investments, which holds $164 billion of net assets, earned a one-year return of 28.4 percent on its PE investments in 2020, according to a fiscal 2021 report issued this week. This compares with a prior-year return of 5.2 percent. Read more on PEI.
PE Deals
They said it “Asset managers have repeatedly made commitments to improve workforce diversity and inclusion, yet there still has not been meaningful progress.” Sasha Jensen, founder of Jensen Partners, an executive search firm focused on the alternatives space, speaks to New Private Markets.
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