Francisco Partners picks up Weather.com from IBM; PE deals rebounded a bit in Q2

View this email online

Francisco Partners picks up Weather.com from IBM; PE deals rebounded a bit in Q2

Happy hump day, dealmakers!

It’s Rafael Canton filling in for Chris Witkowsky for this Wednesday edition of the Wire.

This morning we have a look at Francisco Partners taking on the Weather Company from IBM.

Plus, we have some key points from a Q2 report from Ernst & Young that showcases a slight rise in PE activity.

We also revisit the role Generative AI is starting to play in dealmaking through a look back at a previous story that proved popular with our readers.

This forecast calls for deals

Francisco Partners has agreed to acquire The Weather Company assets from IBM in a deal that is set to close by the end of Q1 2024.

Upgrade to the premium version of the Wire to learn more about the deal.

Dealmaking uptick

Private equity is making a small rebound according to EY’s Private Equity Pulse: Takeaways from Q2 2023.

As we’ve heard throughout the year, add-on deals have become a significant form of dealmaking. Also, European deals saw an increase from the previous quarter.

Read about the report in the premium version of the Wire.

Generative AI still early

A topic we’ve been monitoring at PE Hub the past few months has been the use of Generative AI in dealmaking.

Earlier this summer, I spoke with deal-source service providers and dealmakers about how Generative AI could be used in deal sourcing. Read excerpts in the premium version of the Wire.

That’s it from me today. MK Flynn will bring you the Wire tomorrow.

If you have any thoughts, please email me at [email protected].

Thanks,

Rafael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Insight Partners is set on a $15 billion hard-cap for its 13th tech offering, sources told Buyouts, as the firm navigates a brutal fundraising market.
H1 fundraising stats show depth of market’s trough: Agri Investor's first fundraising report for agrifood and forestry vehicles paints a bleak picture but the outlook for H2 and beyond shows signs of promise.
The majority of GPs have observed some level of interest from their investors for continuation funds, according to Private Equity International’s Private Fund Leaders Survey 2023.
Tail-end specialist Willowridge Partners closed its latest flagship, Amberbrook IX, on $900 million earlier this month. The GP committed $50 million to the vehicle, or about 5 percent of the fund. Secondaries Investor caught up with founder and partner Jerry Newman about the raise and trends driving activity in tail-end secondaries.
Chicago-based real estate manager Harrison Street has launched the fourth fund in its Europe-focused opportunistic series. With a target of €1.5 billion, the vehicle is the third-largest Europe-focused fundraise announced this year. (Private Equity Real Estate)
Tradable, a California-based tech concern founded last year to bring fintech to private credit, has partnered with Victory Park Capital and Spring Labs to develop and launch a platform to democratize institution-quality private credit deals. (Private Debt Investor)
LGT Capital Partners has raised more than $3 billion for its latest secondaries flagship, which is already well over half the size of its predecessor. (Secondaries Investor)
When it comes to distress in private real estate, the office sector is just the tip of the iceberg. Although the first significant defaults of the current cycle have been concentrated in the out-of-favor sector, they are just the early signs of what Ralph Rosenberg calls “pattern recognition that’s going to be applicable to all property types in all markets, based on the capital constraints and the cost of capital.” (Private Equity Real Estate)