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The Wire Feb. 1, 2022
Alpine unveils engineering services platform; Kinderhook backs Physician Partners Good morning, dealmakers. MK Flynn here, with today’s Wire.
There’s a lot going on, so we’ll get right to it.
Building back better. We’re expecting a surge of infrastructure deals this year, fueled in part by recent federal legislation. This morning, Alpine Investors launched an ambitious engineering services platform, known as Trilon, to invest in transportation, water, energy, environment and community infrastructure. Check out my story to see what Alpine partner Dan Sanner and Trilon founder and CEO Michael (Mick) Renshaw said about the opportunities ahead.
Primary care. Kinderhook Industries has led a $500 million investment in Physician Partners, a primary care physician group and managed service organization in Florida. The deal marks Kinderhook’s 51st healthcare-related transaction.
Raising funds. Buyouts’ 2021 fundraising report is now available for download. Fundraising by North American private equity firms rose sharply last year, as GPs and LPs unleashed the pent-up energies of 2020’s virus-roiled market, writes Kirk Falconer.
Pivotal moment. Lincoln International just launched Private Funds Advisory to help PE firms raise capital and create tailored private capital solutions.
Deal of the Year: Get your nominations in now for your best exits (either full or majority) that closed in 2021. Awards are given in seven categories: overall deal of the year, large-cap, middle-market, small-cap, international, turnaround and secondaries. Deadline is Friday, Feb. 11. Send to Chris Witkowsky, private equity editor, at [email protected]. Go here for all the rules and regs!
We’re hiring! PE Hub is looking for a reporter to cover the fast-paced business of private equity dealmaking. The role is weighted heavily toward enterprise reporting and involves breaking news, identifying, and analyzing M&A trends, as well as producing longer-term features, profiles, and columns. Qualifications include 1-3 years as a reporter, financial or business journalism experience preferred. See the posting and apply here!
Stay in touch. I’d love to hear from you, dear Reader.If you’ve got story suggestions, tips or feedback for our team, email me at: [email protected].
Until tomorrow, MK
Read the full wire commentary on PE Hub ...
Also of note (may require subscriptions) International oil giant Royal Dutch Shell’s corporate pension is selling a $1 billion-plus portfolio of stakes in mostly older private equity funds in a cleanup sale, sources told Buyouts.
Having exploded onto the scene in the broadly syndicated market, the impact of sustainability-linked loans is now being felt in private debt. But managers need to make sure they do not stand accused of greenwashing. (Private Debt Investor)
The pandemic has caused severe disruptions to the global supply chain, but ports have proven resilient in what has been described as the biggest crisis since the start of container shipping, writes Infrastructure Investor's Alastair O’Dell.
Private equity debt boom could hinge on Fed tightening. Buyout firms have taken on record amounts of cheap cash to lever up the companies they own but now face uncertainty as interest rates head higher, finds the Wall Street Journal.
"Lincoln International LLC, a global investment banking advisory firm has poached the co-leaders of investment bank UBS Group AG’s private-funds group to launch a new private funds advisory business." (WSJ Pro)
"The difficult public environment for fintechs could mean investing opportunities for private-equity firms, especially those that have begun to build out practices focused on the space, according to David Jegen, managing partner of F-Prime Capital's tech fund." (Business Insider)
"Apollo Global Management Inc. is buying a minority stake in Legendary Entertainment, the latest in a series of deals struck by Hollywood firms cashing in on the growing demand for streaming content." (Wall Street Journal)
Pet Age has a Q&A with Leigh Randall, managing partner at Topspin Consumer Partners, and Wendy Wen, CEO of Antelope, about private equity’s interest in acquiring pet companies.
"The 1.99 billion euros ($2.24 billion) media rights deal between LaLiga and private equity firm CVC is likely to open the door for similar high-stake investments across Europe’s major soccer leagues, LaLiga told Reuters."
PE Deals
They said it “We’ve reached a pivotal moment in private investing, where new capital sources and structures have become ubiquitous – and where possibility has no limit.” — Steve Carre, managing director, co-head of Private Funds Advisory, Lincoln International
Today's letter was prepared by MK Flynn Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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