| View this email online The Wire Aug. 12, 2021 Biden’s infrastructure bill: not a game changer for clean-energy investors; Kainos Capital acquires pet food manufacturer Happy Thursday! This is Karishma Vanjani, filling in for Sarah who's taking a much needed vacation outside the national borders! In yesterday's excessive heat, I stepped out to meet a private equity source and, unsurprisingly, we spent a chunk of time chatting about the climate investing strategy. To me, the very evident effects of global warming everywhere - wildfires in Greece, Algeria - along with the federal budget plans funding climate change programs, make the case for investments in clean energy assets so much stronger. But sustainability-focused private equity firms, albeit supportive, consider both the bills in the pipeline - the $1 trillion infrastructure and the $3.5 trillion climate and healthcare draft - inconsequential to their playbooks. “It’s not necessarily something we are banking on or in any way holding our breath for,” said Todd Bright, partner and head of private infrastructure Americas at Partners Group over a phone call this week. For Bright, the infra bill simply adds to the tailwinds that were already there. Read my story on PE Hub to hear from other investors. Pet deals continue: Kainos Capital today announced the acquisition of Muenster Milling, a Texas-based pet food and ingredient manufacturer. Just six days ago, Whitebridge Pet Brands, a St. Louis, Missouri-based maker of dog and cat foods and treats was acquired by European-based firm, NXMH. Kainos acquired Muenster, a family-owned pet food business, in a proprietary deal, according to the press release on PE Hub. That’s it! Have a good week ahead, and as always, write to me at [email protected] with any feedback, tips or just to say hello. Read the full wire commentary on PE Hub... Also of note (may require subscriptions) RedBird's $2.6 bn close: RedBird Capital Partners, a high-profile dealmaker in the professional sports world, raised $2.6 billion in the final close of its latest flagship fund. RedBird Series 2019 wrapped up in March, securing $1.4 billion, partner Robert Klein told Buyouts. Pay up: Rockefeller, Ford, Omidyar and eight other foundations and family offices recently donated $3.3m to impact data organisations – but they think it’s time for asset managers that benefit from this ‘infrastructure’ to pay for it. Read it on New Private Markets. Mailchimp explores PE sale: Mailchimp is said to explore sale at $10 Billion-plus valuation and is attracting interest from private equity firms and large technology firms, Bloomberg reports. The company had about $300 million in earnings. PE Deals They said it “You don’t actually need to completely turn the system upside down to start generating reasonable reductions in emissions, but it’s not as sexy as talking about blue ocean bonds, or growing red seaweed in Hawaii." Global protein strategist Justin Sherrard told Agri Investor. Today's letter was prepared by Karishma Vanjani. Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. |
