| View this email online The Wire Sept. 27, 2021 Inflation fears ramp up, Ares agrees to acquire The Lockwood Group, Softbank leads $122m funding round in DICE Happy Monday! In the news this morning, inflation fears ramp up amid shortages, including a looming energy crisis in Europe. There’s not enough fuel to meet resurging demand … Also, Ares Management agreed to acquire The Lockwood Group, which comprises multiple agencies specializing in medical communications, writes Sarah Pringle on PE Hub today. The company works with clients in pharmaceutical, biotech and medical device industries. And, Paul Van Hook, co-head of Credit Suisse’s fledgling capital solutions group, is leaving the bank. The capital solutions group, formed last year, combined the bank’s GP-led secondary advisory services and its capital sourcing work for direct and co-investments. That’s it for me! Have a great start to the week. Reach me with tips n’ gossip, feedback or book recommendations (I’m just finishing up a second reading of Hannah Arendt’s "The Origins of Totalitarianism", which doesn’t make for the most pleasant reading experience) at [email protected] or find me on LinkedIn. Read the full wire commentary on PE Hub... | SPONSORED INSIGHT | | Global Private Equity Performance Series | | The fourth edition of Global Private Equity Performance Series is for the first time using the deal-level benchmarks in geographical performance analysis. Powered by data sourced directly from GPs and validated via the Insight platform, GPEPS now provides a detailed analysis of performance and deal activity across all regions and sectors at the portfolio company level. This edition of our annual report on global and regional performance is organized around three complementary analyses: the annual performance, the investment-to-date performance and the IRR analysis. | | Download the paper |
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Also of note (may require subscriptions) Hike: Virginia Retirement System is hiking its allocation for FY22 to 14 percent from 13 percent, part of a trend of large public systems looking to increase their exposure to the asset class. The system’s private equity return, while slightly underperforming its benchmark, was strong as of June 30, 2021 at 54.1 percent. Read more here on Buyouts. SPAC: Gores Guggenheim, a SPAC formed by Gores Group and Guggenheim Capital, agreed to merge with Polestar Performance, a global electric performance car company. The transaction implies an enterprise value of about $20 billion. Read more here on PE Hub. Vision: Softbank’s Vision Fund led a $122 million Series C funding round in DICE, a music discovery and events ticketing platform. Other investors in the funding include Future Shape, Blisce, Xavier Niel, Mirabaud Private Equity, Cassius and Evolution. Read more here. PE Deals They said it “You might feel good about having negotiated preferential terms in the short term. But in the long run, if the GP can’t be the kind of firm that you want to be invested in, then that makes you a fool.” Scott Reed, co-head of private equity in the US at Aberdeen Standard Investments, on balancing term negotiations for new shops. 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 MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 