Centerbridge weighs $3B sale of cloud IT firm Ahead
Private equity firm Centerbridge Partners is preparing a sale of Ahead Inc in a deal that could value the enterprise cloud solutions provider at more than $3bn including debt, according to people familiar with the matter. Chicago-based Ahead is expected to generate $2.5bn in revenue this year, up from $2.2bn in 2021, with annual earnings […]
Astorg completes acquisition of OPEN Health from Amulet Capital Partners
Astorg and Amulet Capital Partners announced that they have completed the previously announced transaction whereby Astorg has acquired OPEN Health, a leading global provider of scientific communications and market access services to the pharmaceutical industry. Astorg is a European private equity firm with over €17 billion of assets under management. Astorg works with entrepreneurs and […]
Abrdn to sell £14B private equity arm as Bird reshapes funds giant
One of Britain’s biggest fund managers is preparing to offload the business which manages private equity funds as part of its ongoing streamlining under chief executive Stephen Bird. Sky News has learnt that abrdn has hired investment bankers to find a buyer for the division, which managed nearly £14bn in assets at the end of […]
Ambienta closes €1.55B private equity fund focused on environmental champions
Ambienta SGR (Ambienta), one of Europe’s largest asset managers entirely focused on environmental sustainability, has held the first and final close of its fourth Private Equity fund after less than six months of active marketing, hitting its €1.55 billion hard cap. The fundraising attracted significantly more interest from investors than Ambienta could accommodate from the […]
Toshiba selects Bain, CVC, Brookfield, Japan funds for second round in $22bn takeover battle
Japan’s Toshiba has selected four bidders including private equity firms Bain Capital, CVC Capital Partners and Brookfield Asset Management to proceed to a second bidding round, people briefed on the matter said. Bain and Brookfield declined to comment. CVC, JIC and JIP could not be immediately reached for comment. Toshiba said it would not comment […]
Ares gearing up to launch €11B European direct lending fund
Ares Management Corp is targeting more than €11 billion for a new new European direct-lending fund, making it the continent’s largest direct lending fund to date, according to a report by Bloomberg. Unnamed sources are cited as revealing that fundraising for the new Ares Capital Europe VI fund is slated to begin in the first […]
KKR, ANZ talks for potential $3B MYOB buyout are over
Australia and New Zealand Banking Group has dropped talks with KKR for the potential $3.04bn buyout of software firm MYOB. The banking corporation said it “confirmed that it has withdrawn from discussions with Kohlberg Kravis Roberts & Co. (KKR) about a potential acquisition of MYOB” in a statement without further explanation. KKR bought into MYOB […]
EQT makes what could be debut deal from €20B-targeting Fund X with UTA buyout from Investcorp
Global buyout major EQT has agreed to buy Investcorp‘s stake in talent and entertainment business United Talent Agency. EQT said the investment is expected to be the first from its EQT X fund, which is currently out targeting €20bn with a €21.5bn hard cap. That fund will be between 5% and 10% committed following the […]
Tenzing seals impressive 9.6x return selling CitNOW Group to Livingbridge
European mid-market tech investor Tenzing has scored an impressive 9.6x return selling CitNOW Group to UK private equity house Livingbridge. Tenzing sealed a 74% IRR from the sale, which comes four years after the firm bought into the sales conversion software for car dealerships specialist using its £200m debut fund. The firm said it had […]
European PE funds in the market for $110B+ despite headwinds
European private equity funds are looking to raise a total of more than $110.7bn, and despite macroeconomic uncertainty, investors have been largely successful in reaching their targets. PitchBook data shows that, as of the end of Q2, there are 197 open PE funds in the market—65 of which have launched since the start of 2021. […]
