Happy Monday, Hubsters. MK Flynn here with the Wire.
Welcome to the first half of 2023. After a slow H1 for private equity deals, here’s hoping dealmaking picks up in H2!
In the coming weeks, we’ll be running interviews with private equity partners who will share their forecasts for H2.
If you’d like to weigh in, I’d love to hear from you at [email protected].
In today’s news…
Buyouts just released its annual Buyouts 100. We’ve got an excerpt from an interview with Advent International, which made it into the top 10 for the first time. Advent’s John Maldonado says the firm’s strategy gives it an edge in dealmaking.
And we’ve got a Deep Dive into a multi-firm investment in a developer of innovative cancer treatments.
But first a quick look at three deals announced this morning.
News in brief
Subscribers to PE Hub and PE Hub Europe may read a steady stream of deal news written by Iris Dorbian and Irien Joseph every day in the “News in brief section” of our websites, here and here.
Secret sauce
While Blackstone Group earned the top slot on Buyouts 100, one of the most aggressive climbers was Advent International, which vaulted its way from the 21st position in 2022 to the sixth slot this year with a five-year fundraising tally of about $52.9 billion. Key to this was the closing of last year’s largest flagship fund, the $25 billion Advent International GPE X, explains Buyouts’ Kirk Falconer.
Advent’s expansion since 1984 owes to several factors, managing partner John Maldonado told Kirk, including “the secret sauce of how we manage ourselves.”
Subscribers to the premium version of The Wire may read an excerpt from the interview.
Check out the full Buyouts 100 list here.
Promising results
BlackRock Alternatives and Nextech invested in ITM Isotope Technologies, thanks to the company’s unique position in the burgeoning radiopharmaceuticals market, the firms told PE Hub Europe’s Craig McGlashan in a Deep Dive.
Subscribers to the premium version of The Wire may read more.
That’s all for today.
Tomorrow, we’ll be observing Independence Day, and there will be no Wire.
Obey Martin Manayiti will write to you on Wednesday, filling in for Chris Witkowsky, who’s on vacation this week.
Happy 4th of July!
Cheers,
MK
Read the full wire commentary on PE Hub ...
