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LongRange scoops up US Synthetic from pending ChampionX merger; Advent’s Tricia Glynn among featured speakers at NEXUS 2025

Good morning, Hubsters. Senior reporter Michael Schoeck here with the US edition of the Wire from the New York newsroom, filling in for Obey Martin Manayiti, who’s on parental leave.

We’re gearing up for PEI Group’s NEXUS 2025 summit in Orlando, March 10-12. PE Hub’s editor-in-chief Mary Kathleen (MK) Flynn and reporter Rafael Canton will be attending, and they look forward to meeting you there.

In the days leading up to the conference, we’ll share some program highlights in the Wire. See below for a look at NEXUS featured speaker Tricia Glynn, a managing partner at Advent International, who invests in the consumer sector.

Next, we’ll highlight a deal involving a diamond crystal cutting company for the energy and mining markets.

And last up we’ll have a look at trends driving the growing use of continuation funds by private equity firms.

NEXUS preview: Advent’s Tricia Glynn

As the days count down to PEI Group’s NEXUS 2025 summit in Orlando, March 10-12, we’re sharing details on the program.

PE Hub’s editor-in-chief Mary Kathleen (MK) Flynn will be interviewing many of the PE industry’s thought leaders on stage at NEXUS, including Tricia Glynn, a managing partner at Advent International, where sheadvises on buyouts and growth equity investments in the consumer sector.

 Upgrade to the premium version of the Wire for more NEXUS 2025 insight.

Diamond cutter divestment

LongRange Capital, a mid-market private equity firm based in Stamford, Connecticut, has announced an agreement to acquire US Synthetic Corporation from ChampionX for undisclosed terms.

Upgrade to the premium version of the Wire for additional industrial market deal activity and companies for sale.

Continuations aplenty

Continuation vehicle funds are at the center of the exit dilemma, with many private equity firms now participating in secondaries vehicle for portfolio companies than in recent years, according to a new report by MCAM Group, a placement agent.

Upgrade to the premium version of the Wire for more insight from MCAM.

That’s a wrap for me. Keep an eye out for the Europe edition of the Wire tomorrow from Craig McGlashan and the US edition from Rafael Canton.

Cheers,

Michael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Rob Wolfson, the head of HIG Capital’s Advantage platform, which the firm launched in 2018, has left and is launching his own shop, two sources with knowledge of the effort told Buyouts.

TPG, a pioneer of private equity investing in climate change solutions, is looking to raise $8 billion for a second Rise climate offering. (Buyouts)

Stonepeak is set to see two members of its London-based investor relations team depart, sources have told Infrastructure Investor.

CPP Investments, the world’s second largest investor in private equity according to Private Equity International's GI 150, has returned to the secondaries market with another LP-led process. (Secondaries Investor)

There is “absolutely no doubt” that there will more exits by impact funds in 2025 compared to the last few years, according to Incofin Investment Management head of private equity Jose Enciso, speaking to New Private Markets off the back of his firm’s latest liquidity event.

Swiss asset manager Pictet Alternative Advisors is seeking to raise its largest co-investment vehicle to date, Private Equity International understands. Monte Rosa Co-Investments VI will have a $1.25 billion hard-cap, a source with knowledge of the matter tells PEI.

Apollo Global Management has agreed to acquire real estate manager Bridge Investment Group in a $1.5 billion deal that will dramatically boost the New York private equity giant’s real estate profile. (PERE)

Anything short of a one-and-done first and final close won't cut the mustard, says Asante Capital managing partner Warren Hibbert in the latest episode of Private Equity International's Spotlight podcast.

Deals

They said it

“LPs have historically been reluctant to invest in continuation funds – that has now changed as PE firms have proven that they can build and realize additional value in certain assets held for longer.”

— Lars Bjoergerd, managing director of MCAM Group, on the rise of continuation vehicles in private equity.

Today's letter was prepared by Michael Schoeck

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