| View this email online The Wire July 30, 2021 Prelude Growth enters the condiment scene, Apollo bets $200m on Utah's largest fiber operator FirstDigital Telecom Happy Friday! I have a mixed bag of deal activity news to present today. To begin with, Prelude Growth Partners announced a minority growth investment into Fly By Jing, a wildly popular Chinese hot sauce maker. The company falls well within Prelude's thesis of supporting brands that cater to the new modern consumer. Founded by a Jing Gao, a chef and renowned expert on Chinese cuisine, the brand has been predominantly digital. "But now it's time to go much more aggressively into mainstream grocery aisles," Neda Daneshzadeh, co-founder of the female-founded firm said over a call last evening. Apollo's infra bet: Apollo Global Management is investing $200 million in FirstDigital Telecom, a fiber-based carrier in the Western U.S. Dylan Foo,senior Partner and co-head of Infrastructure at Apollo said the firm will leverage its telecoms infrastructure expertise and capital to help the company grow. Hit me up with thoughts, feedback, tips n’ gossip or whatever at [email protected] or find me on LinkedIn. Read the full wire commentary on PE Hub... Also of note (may require subscriptions) Secondary activity: Kline Hill Partners, which focuses on the smaller end of the secondaries market, plans to target up to $250 million for its debut fund to invest in GP-led deals like restructurings, sources told Buyouts. Read more here on Buyouts. Fundraising news: The Carlyle Group is seeking to raise as much as $27 billion for its latest flagship fund, in what would be the industry's largest-ever private equity pool, Bloomberg reports. TPG's SPAC: Vacation rental management company Vacasa said on Thursday it plans to go public through a merger with a blank-check firm backed by TPG, in a deal that gives Vacasa an equity valuation of $4.5 billion. Read on Reuters. PE Deals They said it “Clients are increasingly looking for investments that provide diversified returns and that have demonstrable benefits to society in line with a more sustainable world.” Lazard’s CEO, Ashish Bhutani said in a statement, reported by affiliate publication, New Private Markets. Today's letter was prepared by Karishma Vanjani. Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE 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 PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 