View this email online 

Advent’s Tricia Glynn shares insights on consumer sector; Sixth Street’s minority stake in the SF Giants to help upgrade stadium

Hello, PE Hubsters! Rafael Canton here with the US edition of the Wire from the New York newsroom. I’m back from Orlando, where I covered PEI Group’s NEXUS 2025 summit. I enjoyed the chance to meet many of you there - and to hear your perspectives on the state of dealmaking today.

As a reporter who covers deals in the consumer sector, I was looking forward to Tricia Glynn’s Fireside Chat with MK Flynn, which we are featuring on PE Hub this morning. And the conversation covered a lot of ground. Glynn is a managing partner at Advent International. She invests in the consumer sector and spoke about the challenges and opportunities in the sector, including planning for tariffs and lessons learned from covid.

Then, we have a consumer brand deal from this morning. Forward Consumer Partners has acquired SerVaas Laboratories, Inc, an Indianapolis-maker of Bar Keepers Friend, a household cleaning products company.

Finally, we have the recent deal from Sixth Street which has invested in Major League Baseball’s (MLB) San Francisco Giants.

Contingency planning

Let’s first dive into the consumer sector. Tricia Glynn, a managing partner at Advent International, spoke with Mary Kathleen (MK) Flynn, editor-in-chief of PE Hub, about several dealmaking topics in the consumer sector in a fireside chat at PEI Group’s NEXUS 2025 summit earlier in March. The Fireside Chat includes insight on Advent deals in the consumer space such as Sauer Brands and focus on subsectors such as luxury wellness.

Subscribe to the premium version of the Wire to learn more about how Advent is working with its portfolio companies on strategies to prepare for tariffs.

Household cleaning

Continuing the consumer conversation, we have an interesting deal from the sector. Forward Consumer Partners has acquired SerVaas Laboratories, Inc, an Indianapolis-maker of Bar Keepers Friend, a household cleaning products company.

Premium subscribers of the Wire can read more about the deal.

Play ball

Now, let’s end with a sports deal. Sixth Street has invested in the San Francisco Giants.

Sixth Street has been connected to sports for some time. The firm led an investment group for National Women’s Soccer League (NWSL) expansion franchise, Bay FC in 2023. Sixth Street also invested in National Basketball Association (NBA) team, the San Antonio Spurs in 2021.

Sixth Street was also one of a handful of firms to be approved by the NFL as investors in teams in 2024. PE Hub has been following PE’s interest in the NFL and other sports.

Subscribe to the premium version of the Wire for the details behind what the Giants investment will go towards and more.

If you have any questions, thoughts, or want to chat about deals in the tech, consumer or sports sectors, please email me at [email protected].

Tomorrow, Nina Lindholm will be with you for the Europe edition of the Wire and Michael Schoeck will bring you the US edition.

Cheers,

Rafael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

CalPERS defends responsible investing approach amid heated public meeting. The public pension has had to defend its decision to include energy company holdings in its climate-focused portfolio at a recent meeting. (New Private Markets)

Municipal pension fund pauses PE commitments amid liquidity woes. A review of the pension’s portfolio found much of its 'private equity' portfolio was not in corporate buyouts. (Buyouts)

CIP’s €12bn Fund V mixes organic growth with M&A. Fund V is set for a final 'end of April' close, while deployment is happening at speed and mixes home-grown opportunities with M&A. (Infrastructure Investor)

LPs flock to the secondaries market as buyers. Aware Super is the latest example, with CIO Damien Webb saying he expects the superannuation fund to allocate further capital to the space in the next three years. (Private Equity International)

How managers are cultivating the ‘evergreen’ skill set. PE managers exploring evergreen funds must address the unique operational challenges of these vehicles. (Private Funds CFO)

Deals

They said it

“The Orveon investment was about saying, ‘People are going to wear makeup again.’ Even though valuations are plummeting, and strategics are exiting this category, it will come back. People will put on lipstick before they walk on stage, and that’s okay.”

— Tricia Glynn, managing partner at Advent International, on betting on categories that were negatively affected by the covid pandemic

Today's letter was prepared by Rafael Canton

Did someone forward you this email? Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article.

Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. 

London | New York | Hong Kong | Tokyo | Sydney

PEI Group Ltd is registered in England no.6135779

Registered office: 5th Floor, 100 Wood Street, EC2V 7AN

To update your PE Hub email preferences, or to unsubscribe, click here.