Private capital’s rush into the business of sport
Institutional investors see long-term opportunities from short-term disruption, but there are risks The most prominent sports transaction of 2020 — the $2.4bn sale of baseball’s New York Mets to hedge fund manager Steve Cohen — was both a record sum for a North American franchise and, according to money managers and sport industry executives, perhaps […]
How selling to yourself became private equity’s go-to deal
The pandemic has helped make a previously niche set of transactions more mainstream Private equity firms have a new set of buyers for their portfolio companies: themselves. Blackstone, EQT, BC Partners and Hellman & Friedman are among the buyout groups to have sold companies to funds that they control this year, or made plans to do so. […]
Private equity firm Permira to buy majority stake in Boats Group
Private equity firm Permira said on Tuesday it will acquire a majority stake in online classifieds marketplace Boats Group from Apax Partners funds. The financial details of the deal were not disclosed. The deal for Boats, which mainly serves the recreational marine industry, is expected to close in the first quarter of 2021. Miami-headquartered Boats […]
Investor PAG hunts for billion-dollar private equity deals in Japan
Asia-focused fund adds two specialists to scoop up noncore ops in corporate overhauls Hong Kong-based investment firm PAG looks to build up its private equity portfolio in Japan through deals worth hundreds of millions to a few billion dollars each, as Japanese companies increasingly divest noncore operations. PAG welcomes two Japanese investment veterans in January as […]
EU ambassadors approve provisional application of Brexit trade deal
BRUSSELS (Reuters) – Ambassadors of European Union governments in Brussels approved on Monday the provisional application from Jan 1, 2021 of the EU-Britain trade deal struck last week. “EU Ambassadors have unanimously approved the provisional application of the EU-UK Trade and Cooperation Agreement as of January 1, 2021,” the spokesman for the German EU Presidency […]
Private equity firm’s SPAC TZP Strategies Acquisition files for a $250 million IPO
ZP Strategies Acquisition, a blank check company formed by TZP Group targeting the tech, business, and consumer sectors, filed on Monday with the SEC to raise up to $250 million in an initial public offering. The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists […]
Markets shock in 2020 gives way to IPO boom
Stock listings flourish in aftermath of hit from coronavirus pandemic Companies raised more money through stock market listings in 2020 than in any year besides 2007, as a rebound in equities valuations lured in businesses and blank-cheque acquisition vehicles rushed to list in the US. Businesses raised almost $300bn through flotations globally in 2020, including […]
Secondary market likely to be aided by GP-led deals
Big increase in deals seen as industry adjusts after COVID-19 disruptions Alternative investment general partner-led secondary market transactions are expected to increase in 2021, giving managers additional exit options and relieving the pressure of selling companies during the COVID-19 pandemic. GP-led transactions involving single assets or portfolios are not just for troubled funds. Alternative investment […]
Shadow capital stabilised South-east Asia private equity in 2020: report
SOUTH-EAST Asian private equity (PE) deal value fell by over 50 per cent year on year in the first three quarters of 2020 and the brakes were slammed on exits, amid Covid-19 uncertainty. This comes on the back of a thriving 2019 for the region’s PE and venture capital (VC) scene, which clocked US$12 billion […]
SolarWinds Hack Throws Wrench In Private Equity’s Most Profitable Market
For years, one of the most lucrative corners of financial markets has been the software leveraged buyout, where firms like Thoma Bravo, Silver Lake Partners and others have earned industry topping returns. Their unheralded target companies provide the digital infrastructure, network management, and applications to run businesses on the cloud. These companies generally deploy stable […]
