| Advent's healthcare portfolio steers busy 2020, Cinven's Bioclinica unites with Nordic, Astorg-backed ERT, TPG-sponsored SPAC merges with electric-vehicle technology EVBox It's Friday, we made it!
Portfolio-driven M&A has fueled a proactive pandemic year in healthcare for Advent International, whose senior members are closely watching how technology adoption lends to new pockets of opportunity.
I recently caught up with Advent's John Maldonado and Tom Allen, who said dealmaking across Advent’s existing healthcare portfolio (totaling eight add-ons) this year translates to combined enterprise value of nearly $2 billion. All but one healthcare investment this year was a portfolio tuck-in, with the exception being RxBenefits, a sizable transaction in the healthcare benefits arena PE Hub uncovered last month.
Advent spoke to portfolio strategies at AccentCare and Mediq, while also digging into the acceleration of telehealth and virtual trials. Check out my full report.
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Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards.
Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year.
Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian.
If you have additional questions, email Private Equity Editor Chris Witkowsky at [email protected].
Also of note (may require subscriptions) On the move: Jeff Zients, CEO of Cranemere Group, a long-hold-focused private investment firm, resigned to join the incoming administration of president-elect Joseph Biden, sources told Buyouts. Read more here.
Opting out: More junior-level investment bankers are choosing not to enter the private equity recruiting cycle, industry recruiters tell Business Insider.
Platform activity: Add-on transactions accounted for more than 50 percent of Q3 private equity deals, with Cinven of London among the most active European firms this year. Check out Bloomberg's full report.
Record-breaking: Airbnb has taken the spotlight, with its Thursday public debut valuing the home rental business just north of $100 billion – making it the biggest U.S. IPO in 2020, Reuters writes. PE Deals 
They said it “What [institutional investors] need now is sometimes they want to reshuffle their portfolio… As a result of that, a whole business has emerged of secondaries and trading the LP commitments that are in funds.” Brookfield’s chief executive Bruce Flatt speaks to the opportunity represented by secondaries on an investor call this year, Secondaries Investor writes.
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. 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. 
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