| |
| |
| Vista's Fund VI could reach $10.5B |
| Vista Equity Partners has asked investors for the go-ahead to lift the target on its sixth flagship fund to $10.5 billion, the Wall Street Journal reports, an uptick from the vehicle's current $10 billion limit. That figure was already an upgrade from the fund's initially reported $8 billion target, which was itself a hefty increase from the $5.8 billion that Vista raised in 2014 for its previous buyout vehicle.
Despite all that money—which would put Vista in rarefied air in terms of tech-focused investors—the fund would still be billions smaller than the year's biggest buyout vehicles. In March, Advent International closed its eighth flagship fund on $13 billion, continuing its own trend of rapidly growing pools of capital. Industry titan KKR is aiming to raise the same amount for its Americas XII fund, which is believed to still be seeking LP commitments. |
|
| | | | | | | Snow Phipps III raises flurry of funding |
| Snow Phipps has thus far raised $810 million for its third buyout fund, according to an SEC filing. The vehicle is the firm’s first in five years, following the close of Snow Phipps II on $844 million in 2011. Snow Phipps seeks to invest mainly in the industrials, services and consumer sectors, targeting investments of between $50 million and $150 million in North American companies with enterprise values ranging from $100 million to $500 million.
The new filing comes at a time when Snow Phipps seems to be gradually increasing its private equity activity. The firm completed 10 deals during 2015—its highest total of the decade, according to the PitchBook Platform. Activity in each of the past three years (including 2016 to date) has equaled or exceeded deal flow in the eight years prior. In total, more than 90% of the companies in which Snow Phipps invests are in either the B2B, B2C or IT sectors.
PitchBook subscribers can check out the firm’s past deals, closed funds, management team and more on the Snow Phipps profile. |
|
| | | | | | | | The education sector may be the next major area of interest for private equity firms in India. [Quartz]
One of the more unique and thoughtful financial writers we have, Ben Hunt, weighs in on the American election. [Epsilon Theory]
Pizza delivery drones? China keeps booming? An office-free company? The staff of Fortune serves up its predictions for 2017. [Fortune]
Henry Kravis is reportedly the latest finance bigwig to be considered for a cabinet spot. [New York Post] |
|
| | | |
|
|
| |
| Since yesterday, the PitchBook Platform added: | | 161 Deals | 1154 People | 409 Companies | 4 Funds |
| | |
|
|
| |
| |
| |
| |
| |
| |
| 2010 Vintage US Venture Funds with B2B Investments |
| | Median IRR | | | | Top Quartile IRR Hurdle Rate | | | | 1.47x Median TVPI | 1.11x Median RVPI |
| | | | *IRR: net of fees | | 92 Funds in Benchmark » |
| | | |
|
|
| |
| Deals in Play & Announcements |
|
| Advent to buy marketing company from KRG |
| | Media and Information Services | St. Louis, MO | Secondary Buyout |
| Advent International has agreed to acquire a majority stake in Ansira Partners from KRG Capital, with Ansira’s management set to retain a substantial interest. Founded in 1919, Ansira is a provider of data-driven marketing services in the US; KRG had backed the business since 2012. |
|
| | | | | | | Pamplona adds on Adreima from WCP |
| | Commercial Services | Phoenix, AZ | Add-on |
| | | |
|
|
| |
| KarpReilly adds to Boxycharm backing |
| | Consumer Products | Miami Gardens, FL | PE Growth |
| KarpReilly has made an additional investment in Boxycharm following a recapitalization of the company in February. Boxycharm is the provider of a monthly subscription service for cosmetics products. Cassel Salpeter & Co. was the exclusive financial advisor on both deals. |
|
| | | | | | | Wafra buys Oxford Finance |
| | Specialized Finance | Alexandria, VA | Buyout |
| An affiliate of Wafra Capital Partners has acquired Oxford Finance, a provider of senior debt loans to companies in the life sciences and healthcare services sectors. The acquisition price, the retirement of Oxford's senior unsecured notes due in 2018 and expected growth capital provided to the company by Wafra will together exceed $1 billion. Oxford had previously raised $460 million in growth capital from Welsh, Carson, Anderson & Stowe and Sumitomo in 2011. |
|
| | | |
|
|
| |
| Waterland-backed Infradata buys Nomios |
| | Network Management Software | Boulogne-Billancourt, France | Bolt-on |
| Infradata, a provider of network integration services, has acquired network security company Nomios from Omnes Capital, which had backed the business since 2013. Founded in 1994, Nomios specializes in improving network performance and IT security for businesses in the defense, financial and telecommunications sectors and claims annual revenue of €35 million. Infradata is backed by Waterland Private Equity. |
|
| | | | | | | Bridgepoint bites off £835M with Oasis sale |
| | Healthcare Services | Bristol, UK | Acquisition |
| Bridgepoint has agreed to sell Oasis Dental Care to Bupa for £835 million. The firm originally paid £135 million to acquire the chain of dental clinics in 2013. |
|
| | | |
|
|
| |
| KKR slims interest in PHC |
| | Monitoring Equipment | Tokyo, Japan | Secondary Transaction |
| KKR has sold a 22% stake in Panasonic Healthcare (PHC), a provider of medical devices with a focus on diabetes care, to Mitsui & Co. (TKO: 8031) for JPY54.1 billion (about $510 million). KKR purchased an 80% stake in the company in 2014, reportedly for about $1.7 billion. |
|
| | | |
|
|
| |
| |
| |
| |
.jpg)
