Laden...
The Wire July 23, 2021
Cerberus joins long list of firms investing in fragmented autism-treatment sector, Blackstone-backed Sema4 completes SPAC, begins trading Happy Friday, everybody!
Cerberus Capital Management is taking a piece of the autism-treatment market, agreeing to buy Lighthouse Autism Center from Abry Partners, four sources with knowledge of the deal told PE Hub. Fast-approaching completion, the deal values Lighthouse, a center-based provider of ABA therapy for children on the autism spectrum, just north of $400 million, the people said. Healthcare investment activity has been booming as of late, to put it lightly. What struck me about this one -- we haven't witnessed any big autism treatment platforms trade hands since a herd of PE firms flocked to the specialty around 2017, 2018 and into 2019. After further digging, I found the most recent platform deal came more than a year-and-a-half ago, when... check out my full report on PE Hub.
Read the full wire commentary on PE Hub...
That's it for me! Have a great weekend, and as always, hit me up at [email protected] with any feedback, tips or just to say hello!
Also of note (may require subscriptions) Hiring: Seaside Equity Partners, led by Wafra alumnus Andrew Thompson, doubled the size of its team after completing fundraising for a debut vehicle, sources told Buyouts. The San Diego private equity firm over June-July brought on two new professionals, sources said. Read it here on Buyouts.
Wealth management tear: Lightyear Capital strikes its eighth investment in the asset and wealth management space, entering the large and fragmented UK market with an agreement to acquire Wren Sterling from Palatine Private Equity. Lightyear was founded by Don Marron, who ran Paul Webber through its sale to UBS before launching the financial services-focused PE firm. Read PE Hub's brief on the deal.
Largest: 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, writes Bloomberg. Should it meet its goal, Carlyle would surpass Blackstone Group Inc.’s $26 billion record from 2019, the report said. Read more here.
PE Deals
They said it “We consider ourselves a health-information company, but we really operate almost more as a cybersecurity company,” he said, adding that data security is “core to our survival.” Sema4 CEO Eric Schadt told WSJ as the Blackstone-backed business completes its SPAC transaction.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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Laden...
