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The Wire March 8, 2021
Insight bets on Saks ecommerce strategy, TA continues financial services push with BetaShares
Morning!
Going online: The universe of retail is constantly evolving. As many consumers continue to shop from home, growth equity investor Insight Partners and HBC have entered into a partnership that establishes Saks Fifth Avenue’s ecommerce business as a standalone entity. Insight has injected $500 million in equity in the luxury ecommerce business - which will go by Saks - valuing it at $2 billion. Read it here.
Elsewhere, TA Associates made a significant investment in BetaShares, an Australian ETF manager with more than $16 billion in assets under management. In people news, consumer-focused private equity shop Swander Pace Capital is building out a more diverse team, hiring...
Read PE Hub's full wire commentary here...
That's it for today! Have a great week, everybody, and as always, hit me up with any tips or feedback at [email protected].
Also of note (may require subscriptions)
Up for sale: Clearlake Capital Group and TA Associates, the private equity owners of DigiCert, are exploring options including a sale of the security technology company, people with knowledge of the matter told Bloomberg. Read the full story.
Hunting for growth: The Wall Street Journal writes that Carlyle Group is increasing its bets on Asia, particularly China and India, attracted by one thing the region has more than any other in the world: economic growth.
Not done yet: Vista Equity Partners is in talks to add two portfolio companies to its deal for Solera Holdings to go public through a merger with blank-check firm Apollo Strategic Growth Capital, people familiar with the matter told Bloomberg. By adding DealerSocket and Omnitracs, the planned transaction value for the auto-tech businesses would expand to about $15 billion, the report said. Read it here.
PE Deals
They said it “I think it’s really important to involve men in the conversation."
Katherine Wood, principal at TPG, speaks to PE Hub on diversity in private equity.
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