Blackstone takes minority stake in private equity manager GTCR
Blackstone Group acquired a minority stake in private equity firm GTCR, a joint release from both firms said Tuesday. Blackstone acquired the ownership stake through its Blackstone Strategic Capital Holdings GP stakes business, which “specializes in value-added, long-term partnerships” with private market alternatives managers, the release said. GTCR’s strategy focuses on investment in growth companies […]
Morrisons’ largest shareholder blasts £9.5bn takeover plan
The proposed £9.5bn takeover of Wm Morrisons has been thrown into jeopardy after the supermarket group’s largest shareholder blasted the Fortress-led bid. UK asset manager Silchester, which owns more than 15 per cent of Morrisons, broke its silence on the deal on Tuesday, saying that it was “not inclined to support the existing Fortress offer” […]
Thoma Bravo to take software firm Medallia private for $6.4 bln
Enterprise software firm Medallia Inc (MDLA.N) said on Monday private equity firm Thoma Bravo would take the company private for $6.4 billion in cash. Medallia shareholders will receive $34 per share in cash, a premium of nearly 20% to the stock’s close on June 10, the last trading day before media reports that the San-Francisco […]
MPs turn their fire on director over LV= sale to private equity
MPs opposed to the demutualisation of LV= have turned their fire on one of its non-executive directors, saying it is “a little odd” that Alison Hutchinson should be pushing through the sell-off while playing a key role in another big mutual, Yorkshire Building Society. Gareth Thomas, chairman of the all-party group for mutuals, has written […]
Index Ventures just raised $3B in what’s shaping up as another record year for VC fundraising
Index Ventures has a new $3 billion pool of capital to play with. The San Francisco venture firm raised the money for three new investment vehicles. Some $2 billion will go into a growth-stage fund, $900 million into an early-stage one and $200 million into a seed-stage fund. The new pool of cash is the […]
Sentinel Capital Partners forms strategic partnership with Blackstone and RidgeLake Partners
Sentinel Capital Partners, a private equity firm that invests in promising mid-market companies, has formed a strategic partnership led by funds managed by Blackstone’s GP Stakes business (Blackstone) and including RidgeLake Partners (RidgeLake). As investors with deep experience partnering with top-tier private equity firms, Blackstone and RidgeLake take a long-term approach to collaborating with general […]
Singapore’s wealth fund posts highest rate of return in 6 years
Singapore’s sovereign wealth fund posted its highest rate of return in six years and expressed caution over rising inflation and a potential deterioration in the coronavirus pandemic. GIC reported an annualised 20-year real rate of return, its main performance metric, of 4.3 per cent for the year until the end of March, the highest since […]
Crypto exchange FTX secures backing from venture capital and hedge funds
The cryptocurrency exchange FTX has raised one of the largest rounds of financing for a digital assets start-up, in a signal of continued investor demand for the sector despite the recent drop in the price of bitcoin. FTX said it raised $900m from more than 60 investors including the venture capital firms Paradigm and Sequoia […]
BBQGuys, Backed by Eli and Peyton Manning, Inks $963 Million Velocity SPAC Deal
BBQGuys, an e-commerce platform for grills and related products backed by retired American football stars Eli Manning and Peyton Manning, has agreed to go public through Velocity Acquisition Corp., a blank-check firm. The transaction values the combined entity at $963 million, and sets up the Baton Rouge, Louisiana-based company for future growth, Velocity founder Doug Jacob […]
Kohlberg & Company Completes $1.1 Billion Continuation Vehicle Transaction With BlackRock
Kohlberg & Company (“Kohlberg”), closed a $1.1 billion Continuation Vehicle transaction co-led by affiliates of BlackRock, GIC and Lexington Partners. The Continuation Vehicle encompasses the remaining assets of Kohlberg Investors VII (“Fund VII”), a 2012 vintage fund with $1.6 billion in capital commitments, and is the first continuation vehicle to be established by Kohlberg. The […]
