Morning Hubsters! This is Chris, on for Wire Wednesday. I’ve been fully immersed in the emerging manager world the past few weeks, and some interesting angles have emerged from my numerous conversations. One we’ll touch on today is the exit and return potential for emerging and small buyout funds. Simply put, the exits are there, and will continue to be there for smaller shops, which is not the case at the larger end of the market. More on that below. But first, some deal news … • BC Partners leveraged increased demand for increasingly complex IT services to grow Presidio • Private equity and healthcare: a bitter pill to swallow? • HighVista to beat target on 10th fund for ‘unusually compelling opportunity’ in small buyouts Exit BC Partners announced the exit of Presidio, which provides secured cloud-based IT services, in April. The firm grew the investment organically and through tuck-in acquisitions and will retain minority interest in the company once the sale closes, according to Fahim Ahmed, a partner at BC Partners, who spoke with PE Hub’s Rafael Canton. Read more here on PE Hub. Healthcare Regulatory scrutiny is heating up on private equity’s investments in healthcare. Adam Brown, a practicing emergency physician and founder of the healthcare growth strategy firm ABIG Health, thinks the proficiency of private equity firms in navigating regulatory complexities is a crucial determinant of future success in the industry, according to a recent article in PEI. Read the whole story by Private Equity International’s Carmela Mendoza on PE Hub. Small buyouts As several firms bring fresh pools of capital into the small and emerging manager segment, a recent report from StepStone Group titled “Pound the Table for Small Buyouts” makes the case that LPs should be focused on this segment for its return potential and easier paths to exit. Small buyout funds sold 5.9 percent of their investments through the first three quarters of 2023 and nearly 9 percent in the LTM period ended in the third quarter of 2023, the report said. That’s it for me! Hit me up at [email protected] with tips n’ gossip or find me on LinkedIn. Read the full wire commentary on PE Hub ... | 