Ten years after starting its infrastructure platform, Barings has stepped into the fundraising game with the close of the asset manager’s Target Yield Infrastructure Debt Fund, its first fund in the infrastructure debt space. (Infrastructure Investor)
The vast majority of limited partners are opting to sell when continuation funds are being put to them as they look for liquidity in a cash-strapped environment. (Secondaries Investor)
With backing from pro athletes, Proteus Motion has secured an $8.5m Series A, joining nine other fitness-related start-ups that raised capital in Q2. (Venture Capital Journal)
Alternative asset research and index provider LPX Group has launched a new index for listed private debt. (Private Debt Investor)
"Intel has struck a partnership with Brookfield Infrastructure Partners to fund the development of a $30bn semiconductor fabrication plant in Arizona, as the chipmaker works to finance large domestic manufacturing facilities following the approval of landmark legislation supporting the industry in the US." (Financial Times)
"AI voice ordering company ConverseNow just got a big endorsement from one of the country’s most well-known restaurateurs. Danny Meyer’s Enlightened Hospitality Investments on Tuesday said it had invested $10 million in the Austin-based startup, which makes a voicebot that can take customers’ orders over the phone and in the drive-thru." (Restaurant Business)
"Pension funds are expected to become the largest sellers on the private equity secondary market in the second half of the year with 38% of the total transaction volume, according to a report published by Setter Capital." (IPE)
"Venture capital and private equity investors are becoming concerned over the exit environment, and the majority believe the asset class is overvalued, a new survey from Preqin shows." (Pensions & Investments)
"The four largest publicly traded alternative asset managers [Apollo, Blackstone, Carlyle and KKR] aim to take advantage of the same market turbulence that curbed investment performance and sent their stocks tumbling in the first half of 2022." (S&P Global) "Carestream Health Inc, an X-ray and medical imaging company, filed for bankruptcy protection on Tuesday with an agreement in place to cut $470 million in debt." (Reuters)
"The Employees Retirement System of Texas is expected to expand its capital allocation target for private equity to avoid having to pare down too much of its private-assets portfolio to maintain balance amid declines in public equities, according to documents prepared for a meeting Wednesday." (WSJ Pro) | 