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The Wire Dec. 3, 2020
Dyal, Owl Rock explore strategic combination, Riverside Partners building cybersecurity services platform, York Capital makes growth investment in F1 Payments This seems huge - Dyal Capital Partners is reportedly exploring combining with Owl Rock Capital Partners, the firms announced in a statement last night. The statement came after a story in WSJ by PE scoopster Miriam Gottfried and Cara Lombardo. Owl Rock, Dyal and Dyal backer Neuberger Berman would all have ownership stakes in the combined entity, the statement said.
WSJ said the deal will also include SPAC firm Altimar Acquisition Corp. What have you heard? Hit me up at [email protected].
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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) Secondary: ICG Strategic Equity is lead backer in a single-asset secondary involving Curium Pharma, a portfolio company of CapVest Equity Partners III. Read it here on Secondaries Investor.
Fees: Management fee discounts appear to be fading out, according to research from MJ Hudson. Just 12 percent of funds in the company’s annual fund terms survey included the possibility of discounted fees in their PPMs. Read it here on Private Equity International.
PE Deals
They said it “If you had told me going into a covid lockdown in March of this year would have resulted in a merger and an investment partner before year-end, I would have said you were crazy.” Eric Gray, CEO of Convergence Networks, on the company's merger with Grade A as part of Riverside Partners' creation of a new platform.
Today's letter was prepared by Chris Witkowsky. 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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