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BPEA EQT makes first new investment since forming last year; Vista backs ESG reporting software

Good morning, Hubsters. MK Flynn here with today’s Wire on a deal-packed Tuesday.

This morning, we’ve got a Deep Dive into Cerberus’ $2.25 billion sale of Worldwide Flight Services to SATS.

And we’ve just launched a new data offering on PE Hub Europe.

But first, let’s get to a couple of deals that were unveiled earlier this morning, one from BPEA EQT and another from Vista Equity Partners.

Sports education

BPEA EQT just announced the $1.25 billion acquisition of IMG Academy, a Bradenton, Florida-based provider of sports education services that supports approximately 100,000 student-athletes, from Endeavor Group Holdings. The deal is expected to close in Q3.

For more on the deal, PE Hub subscribers can see the story here.

ESG reporting

Vista Equity Partners just announced a minority growth investment in Benchmark Gensuite, a provider of Environmental, Health and Safety (EHS), Sustainability and ESG Reporting software.

For more on the deal, subscribers may see the full story here.

Recommended reading

Private equity-backed enterprise software deals are flourishing this year.

For more on the trends driving these deals, see Obey Martin Manayiti’s recent in-depth feature, which includes quotes from dealmakers with Vista, Thoma Bravo and other PE firms investing in the sector.

Unprecedented impact

And now for that Deep Dive I promised you:

Earlier in April, Cerberus Capital Management announced the $2.25 billion sale of Worldwide Flight Services, a Paris-based air cargo logistics operator, to SATS, a Singapore-based provider of food products and gateway services.

PE Hubsubscribers can see the full story here, featuring our interview with Craig Brooks, senior managing director at Cerberus.

GP search

Finally, I want to call your attention to a new data offering for PE Hub Europe.  We just launched our Platinum GP Database, with over 2,400 profiles.

Search the database to locate European-based GPs currently fundraising, identify and connect with key firm contacts, analyse the fundraising climate, look for new business opportunities, and track GPs by investment appetite and AUM.

With our easy-to-navigate tabs and search filters, you’ll find what you’re looking for quickly, plus Platinum subscribers can export the data in PDF or excel file formats to directly add to workflows or reports. 

On that note, I’ll sign off.

Buyouts’ Chris Witkowsky will be on duty tomorrow, and I’ll be back on Thursday.

Happy dealmaking,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

The largest secondaries sale in the market this year – a $6 billion portfolio being sold by Kaiser Permanente – is mostly completed amid the broader challenges around pricing buyer hesitancy. (Buyouts)

I Squared Capital is preparing the launch of a new dedicated energy transition fund, with a mooted target of around $2 billion, Infrastructure Investor understands.

In a new test of its research-oriented ‘know-the-names’ philosophy, New York-based Diameter Capital Partners has closed Diameter Dislocation Fund II on its hard-cap of $2.2 billion. The firm would not provide the original target for the closed-end drawdown fund. (Private Debt Investor)

Committee supports reducing regulations to boost IPOs: Last week, members of the capital markets subcommittee of the House Financial Services Committee acknowledged that the heft of regulations has incentivized companies to remain private for as long as possible, leading to a decline in the number of publicly traded firms. (Private Funds CFO)

The Carlyle Group has reached a final close for its latest Asia-Pacific growth fund at a challenging time for regional fundraising, Private Equity International has learned.

Fiera Real Estate has launched its debut European debt fund, Fiera European Real Estate Debt, six months after establishing a real estate credit platform targeting the region, PERE has learned.

Dutch fund manager Convent Capital has held a €100m second close for its AgriFood Growth Fund, which was launched in April 2022. (Agri Investor)

LCM Partners, the London-based pan-European fund manager, has announced the closing of its latest credit opportunities strategy on €4.1 billion. The strategy comprises a commingled fund and several separately managed accounts. (Private Debt Investor)