Morrisons’ rejection of £5.5bn offer may spark bidding war for grocer
An unsolicited £5.5bn private equity bid for Morrisons, swiftly rejected by the supermarket chain, could spark a bidding war for Britain’s fourth biggest grocer and has raised concerns that other supermarket groups could be sold off to private equity. On Saturday night Morrisons said it had rebuffed a preliminary takeover bid worth just over £5.5bn from the US […]
Apollo closes in on agreement with group of foreign bidders for Morrisons
US private equity giant Apollo is closing in on an agreement to join forces with a group of foreign bidders for Morrisons supermarkets, tightening the consortium’s grip on the grocery chain. Fortress, which is backed by Japanese investment giant Softbank, has teamed up with American businessman Charles Koch and the Canada Pension Plan Investment Board […]
Convergence Partners holds first close of third Digital Infrastructure fund to drive digital inclusion in Africa
Convergence Partners, a private equity investor focused on the technology sector across sub-Saharan Africa, has held the first close of its third fund, the Convergence Partners Digital Infrastructure Fund (CPDIF) at $120 million. The fund is targeting a final size of $250 million. Now with more than $400 million of capital under management, Convergence Partners […]
PRIVATE EQUITY FIRM ACHIEVE PARTNERS ACQUIRES OPTIMUM HEALTHCARE IT
Private equity firm Achieve Partners acquired Optimum Healthcare IT, a provider of healthcare IT staffing and solutions focused on implementation and integration of headquartered in Jacksonville Beach, Florida. The acquisition is the first in Achieve Partners’ Putting America Back to Work Fund. Optimum Healthcare IT’s offerings include Optimum CareerPath, a paid apprenticeship program that helps […]
Eurazeo raises more than €1.6bn for European tech company growth strategy
Eurazeo has exceeded its initial fundraising target for its growth strategy dedicated to equity investments in European tech companies. Total funding raised is more than €1.6 billion, of which €320 million from the Eurazeo Group and €200 million from retail clients. These successful transactions reflect the quality of Eurazeo’s team, the performance of its portfolio […]
KKR Creates Firm to Invest in Health-Diagnostics Technologies
KKR & Co. is creating a firm that will invest in diagnostic technologies such as Covid-19 tests, adding to its bets on fast-growing health-care companies. The new entity, Sapphiros, will be led by industry veteran Namal Nawana, KKR said Wednesday in a statement seen by Bloomberg. Nawana previously was chief executive officer of medical-device maker […]
Five Elms closes $780m Growth Equity Fund V
Five Elms Capital, a global growth private equity firm focused on investing in B2B software, has closed Five Elms V with $780 million in capital commitments. Five Elms V will target equity investments between $5 – $75 million. The new fund received strong support from a diverse global base of new and existing institutional investors, […]
Baird Capital closes second global fund at over $340m
Baird Capital, the global private equity and venture capital arm of Baird, has held the final close for its second Global Fund (Global Fund II) with over $340 million in committed capital. The fund makes buyout and growth equity investments of $15 million to $40 million in Technology & Services and Industrial Technology & Solutions […]
Blackstone doubles second quarter earnings on surging asset sales
Blackstone Group Inc (BX.N) said on Thursday its second-quarter distributable earnings nearly doubled year-on-year, driven by a surge in asset sales across its real estate, private equity and credit businesses. Blackstone’s shares rose 4.5% on Thursday morning, pushing its market capitalization to a record high of $131 billion, overtaking Goldman Sachs Group Inc (GS.N), another Wall Street heavyweight. […]
Spendesk raises €100m Series C round
Spendesk, an all-in-one spend management platform for finance teams, has raised €100 million in Series C funding led by global growth equity firm General Atlantic. All previous investors, including Index Ventures and Eight Roads Ventures, also participated in this round, bringing Spendesk’s total funding to €160 million. With the additional investment, Spendesk will focus on […]
