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The Wire

Private equity deal news and insights from the London newsroom

Dec 11, 2024

 

Blackstone, Foresight seize energy transition opportunities; Main Capital in talent management deal

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

 

Achieving net zero emissions by 2050 requires a complete transformation of the global energy system – and that opens a vast array of opportunities for private equity to invest in energy transition assets. PE Hub has taken note of PE’s interest in the segment and compiled key green transition trends into one story, which we will open with today.

 

We’ll then look at the wider impact of ESG on dealmaking as we hear Latham & Watkins partner Paul Davies’ thoughts on the topic.

 

To finish, we have a fresh deal from software investor Main Capital Partners, which has made a majority investment in a Dutch talent management software provider.

 

Going green

The scale of investment required to limit the rise in global temperatures to 1.5C – including $4 trillion in low-carbon energy annually by 2030, according to International Energy Agency estimates – has opened up plenty of dealmaking opportunities for private market investors.

 

Premium subscribers can read more here.

 

You can find our full sector breakdown here. It covers two more trends in energy transition and features firms such as Vista Equity Partners and FTV Capital.

 

Tsunami of regulation

Let’s take a step back from the energy transition and look at ESG as a whole. I caught up with Paul Davies, partner at Latham & Watkins, to learn how environmental, social and governance issues impact private equity dealmaking. Davies is the global co-chair of Latham’s ESG practice and a member of the firm’s sustainability committee.

 

Check out the full Wire coverage to learn Davies' thoughts on the matter.

 

Managing talent

Let’s finish with a fresh deal. Main Capital Partners has made a majority investment in TMA, a Dutch talent management software provider.

 

Take a look at the full Wire coverage to learn more.

 

Cheers,

Nina

 

 

Read the full Wire commentary on PE Hub ...

Today's must reads

> Grid upgrades, digitalization and energy efficiency drew PE interest in 2024 More...
> Advanced Diabetes Supply Group's add-on of US Med was key to scaling the business More...
> Onshoring in industrial, manufacturing sectors to continue luring PE in 2025, dealmakers predict More...
> Exclusive: Morgan Stanley Capital Partners to acquire another healthcare outsourced service provider More...
> OTPP, Nordic Capital aim to expand Max Matthiessen's footprint into Northern Europe More...

Also of note (may require subscriptions)

 

Vestar decides to not raise new fund, focus on existing portfolio: The firm is among many in the middle market making changes as a result of the tough fundraising environment. (Buyouts)

 

AlpInvest leads €600m GP-led on specialty pharma asset: Swiss GP Gyrus Capital originally invested in Essential Pharma in 2019 as part of a family/founder succession plan process. (Secondaries)

 

Stop or go? Green hydrogen projects at a crossroads. Green hydrogen remains supported by UK and European policies, but the development of a market has been slower than anticipated and FIDs are being paused or pushed. Nevertheless, many investors persist. (Infrastructure Investor)

 

How Maryland’s state pension is leaning into climate action: The $70.4bn fund’s investment committee has green-lit a proposed expert group for mitigating climate risk in its private markets-heavy portfolio. (New Private Markets)

 

New NAV loan index offers some surprising insights: Debt advisory firm Fund Finance Partners unveiled the first index of the buyouts NAV loan market. (Private Funds CFO)

Deals

> Extens sells its stake in Teranga to Orisha More...
> Main takes majority stake in talent management software biz TMA More...
> Kian-backed Sdii Global snaps up Roar Engineering More...
> Wellington-Altus launches exploratory minority secondary sale process More...
> Graham Partners invests in connected safety firm Becklar More...
> Novacap invests in expansion of Consilium Insurance More...
People
> Pacific Avenue Capital Partners sets up new office in Paris More...
> Bowmark expands investment team with Monty Ismail and Matthew Grady More...
> Fortress taps Werthamer and Ruthen to co-head CPSG More...

They said it

“Talent management remains a top priority for employers, who face a daily scarcity of talent. The HR-tech domain is of great importance for Main, as we recognize the necessity for tools to manage human capital effectively.”

— Charly Zwemstra, managing partner and CEO, Main Capital 

 

Today's letter was prepared by Nina Lindholm

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