Morning all, Craig McGlashan here with the Europe Wire from the London newsroom.
With increasing regulatory requirements – and rising penalties for non-compliance – facing companies, the regtech sector is drawing interest from private equity investors. This morning, we hear from Hg director Thomas Martin about his firm’s activity in the sector via its portfolio company Cube, which recently bought another add-on.
Next, we’ve got a hire by Astorg’s mid-cap team, as the firm brings in Jérôme Triebel from Sagard as partner, head of France and Benelux.
Finishing up, we revisit the world of carve-outs, where new figures from S&P Global Market Intelligence bolster a suggestion we made recently that the strategy should throw up a lot of opportunities this year.
Momentum
Hg is seizing what it calls “significant” mid-market potential through its portfolio company Cube’s RegPlatform Intel, as smaller institutions seek enterprise-grade compliance capabilities tailored to their scale and price point, Thomas Martin, director, told PE Hub’s Irien Joseph.
Further momentum has come from Cube’s latest acquisition: Acin, a company that aims to help financial institutions digitize and analyze non-financial risk with advanced data intelligence and analytics.
Read the premium version of the Wire to learn why Hg is backing the regtech sector and how Acin will fit into Cube's plans.
For more on the regtech sector, read Bregal Milestone managing director John Hales’ views from when PE Hub interviewed him about Bregal's sale of Cube to Hg, and our chat with Verdane partner Nils Vold about his firm’s plans for Corlytics.
France push
Astorg has added to its growing presence in the mid-market by hiring Jérôme Triebel from Sagard as partner, head of France and Benelux for its Mid-Cap fund.
Find out who else will be joining Triebel in Paris in the premium version of the Wire.
Astorg’s mid-cap team now has 20 investment professionals, up from 18 in November when PE Hub spoke to Astorg Mid-cap co-heads Lionel de Posson and Edouard Pillot as part of our Dealmakers to Watch series.
Carve-up
GPs are spotting more and more opportunities for carve-outs, a topic we looked into at length a couple of weeks ago. Now, we’ve got some figures to back up the analysis.
Private equity and venture capital carve-outs hit $23.7 billion across 145 deals globally between January 1 and June 3, according to figures from S&P Global Market Intelligence. That’s up from $19.4 billion across 127 deals in the first five months of last year.
Read more of the figures and our analysis in the premium version of the Wire.
That’s all from me today. Rafael Canton will write to you from the US later today and Nina Lindholm will be on Europe duty tomorrow.
Cheers,
Craig
Read the full Wire commentary on PE Hub ...
