Dealmaker to Watch: Chip Schorr, who launched new firm Niobrara; plus, a new class of robots

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Dealmaker to Watch: Chip Schorr, who launched new firm Niobrara; plus, a new class of robots

Good morning, Hubsters!

Rafael Canton here, bringing you the Wire on this Wednesday morning right before July 4. As you prepare to grill, kick back and relax for Thursday, here’s a breakdown of what’s happening in private equity dealmaking.

First, we have an interview with Chip Schorr, the well-known technology dealmaker who launched Niobrara Capital Partners earlier this year, in the latest installment of PE Hub’s Dealmakers to Watch series.

Next, we bring you a little glimpse into the future with a look at “humanoids” from our colleagues at Venture Capital Journal.

Finally, we have a deal from KKR, acquiring Broadcom’s end user computing unit for around $4 billion.

Banking on technology

Chip Schorr is one of the top technology dealmakers in private equity. Known for stints at CVC Capital Partners, Blackstone and One Equity Partners, Schorr went off on his own to launch Niobrara Capital Partners, a New York-based firm that will focus on technology deals.

For our Dealmakers to Watch series, I chatted with Schorr about how he first stepped into private equity and the firm’s investment strategy.

Subscribe to the full version of the Wire to learn more about Chip Schorr’s career path to launching Niobrara.

Is there someone you’d like to see profiled by PE Hub? Send suggestions to editor-in-chief Mary Kathleen (MK) Flynn at [email protected].

Robots to the rescue

Staying in the sector of technology, we’ve heard a lot about AI and the investor interest that there is in companies that leverage AI. But there is also interest in humanoids or in a much simpler term, robots. Our affiliate publication Venture Capital Journal looks at how the field of humanoid robotics is taking off.

There’s been a significant amount of interest in the AI space that PE Hub has seen, both in investing and in how it can impact dealmaking and deal sourcing. In March, I looked at how PE firms can be using generative AI in the deal process.

Upgrade to the premium version of the Wire to learn more about investor interest in humanoids.

Expanding into AI

Speaking of AI, we have a current deal from KKR that has a connection to AI. The private equity firm has acquired Omnissa, a digital work platform company.

Subscribe to the full Wire to read more about the details of this deal.

That’s it from me today. If you have any AI or humanoid thoughts, or want to chat about anything PE-related, please email me at [email protected].

Editor’s Note: PE Hub will be closed on Thursday in observance of Independence Day, and we will not be publishing the Wire newsletter. Obey Martin Manayiti will return with the Wire for you on Friday.

Cheers,

Rafael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Behrman Capital, founded more than 30 years ago by two brothers with Wall Street roots, is in the market with a seventh flagship offering. Rolled out last year, Behrman Capital VII has a target of $500 million. (Buyouts)

How Schroders Capital built its AI platform for private markets: The $94bn asset manager is set to roll out its Generative AI Investment Analyst across primaries, secondaries and other asset classes, CIO Nils Rode and head of private assets data insights Graham Taylor tell Private Equity International.

How Brookfield found a $6bn infra gap: Privare Debt Investor discusses the role of subordinated debt with Brookfield Asset Management's infrastructure debt co-head Ian Simes.

On the back of Goldman Sachs's $3.4bn raise for its latest real estate secondaries fund, Harold Hope, global head of the firm's Vintage group, says a major repricing of assets is presenting more attractive entry points for buyers. (Secondaries Investor)

The ACCESS Pool, which manages assets worth £40 billion ($50 billion; €47 billion) on behalf of UK local government pension schemes, has selected Stafford Capital Partners and JPMorgan for a £300 million timberland investment mandate. (Agri Investor)

After 18 months of more hype than hard cash, GPs are opening their wallets to the green hydrogen opportunity. For good reason. (Infrastructure Investor)

Pemberton has held a first close of its NAV financing strategy with more than $1 billion of investible capital. (Private Debt Investor)

Alaska Permanent Fund Corporation’s chief investment officer believes the ability to co-invest goes a long way towards determining whether an institution should be active in private equity. (Private Equity International)

Global ports are embracing the transition to net zero, and private investments are propping up everything from stronger quays to the bunkering of e-fuels. (Infrastructure Investor)

They said it

“When young people call me and ask how should I get into private equity, I tell them to go to lots of weddings.”

— Chip Schorr, founding partner and managing partner on how he got his start in PE