Private equity deal news and insights from the London newsroom

Epiris has strong deal pipeline for 2025; Ardian closes first PE continuation fund

Good morning, Nina Lindholm here with the Europe Wire from the London newsroom.

Epiris has entered the new year with a robust deal pipeline, chief investment partner Owen Wilson told PE Hub’s Sophie Rose in the latest of our 2025 Outlook pieces – our opening story this morning.

Next, we have a continuation fund deal with Ardian closing a newly formed continuation vehicle for a French refrigeration and air conditioning systems business.

We then have an add-on deal to look at, as Main Capital Partners-backed Bizzdesign has picked up a German business transformation company.

We’ll finish with a reminder regarding the deadline for PE Hub’s Deal of the Year nominations.

Finding opportunities

Epiris is eyeing a strong pipeline of deals in the coming year but remains mindful of potential risks, Owen Wilson, chief investment partner, told my colleague Sophie Rose in the latest of our 2025 Outlook pieces.

Premium subscribers can learn more here.

Sophie’s full interview covers Epiris’ dealmaking experiences in 2024 and additional thoughts on the year ahead. You can find the story here.

Extension

Just before the break for the holidays, François Jerphagnon, managing director at Ardian Expansion, told PE Hub that his team may complete an investment in early 2025. Ardian has just announced the closing of a newly formed continuation fund for a French refrigeration and air conditioning systems business.

For more on the deal, take a look at the full Wire coverage here.

Better together

Let’s move over to software. Main Capital Partners portfolio company Bizzdesign has acquired Alfabet from Software.

For more information, check out the premium Wire coverage here.

Deal of the Year

Before I sign off, I'd like to remind you that tomorrow, Friday, January 10, is the deadline for PE Hub's Deal of the Year Awards. Make sure to get your nominations in on time – results will be published on PE Hub in March.

That’s all from me. Michael Schoeck will be with you later today with the US edition of the Wire. Sophie Rose will be making her Europe Wire debut tomorrow morning, as Irien Joseph enjoys some time off.

Cheers,

Nina

Read the full Wire commentary on PE Hub ...

Today's must reads

Also of note (may require subscriptions)

Blackstone’s former GP stakes head launches secondaries firm: SQ Capital, founded by Mustafa Siddiqui, will focus on mid-market secondaries opportunities. (Private Equity International)

Chip Schorr’s Niobrara rolls out Fund I, raises most of $750m target: Launched in the final months of 2024, Niobrara Founders Fund has already secured $485m, or almost two-thirds of the target. (Buyouts)

Uncertainty shrouds the AI and energy landscape: A report by the US Department of Energy highlights the unknowns that investors face in the next three years as they tackle the hype and reality of AI. (Infrastructure Investor)

Bonaccord closes its second GP stakes fund at $1.6bn: The fund closed well above its $1.25bn target and is twice as large as its predecessor. (Private Debt Investor)

Trinity Ventures closes debut continuation fund amid growing trend in VC: The early-stage investor plans to move 15 assets from its 11th flagship fund to the new vehicle. (Venture Capital Journal)

“Of course, we are mindful of risk – recession, inflation, cost pressures and geopolitical events, to name but a few – but our strategy works well in more stressful environments because of our ability to resolve business and deal with complexities to deliver transactions for sellers.

— Owen Wilson, chief investment partner, Epiris

Today's letter was prepared by Nina Lindholm

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