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The Wire Feb. 19, 2021
American Veterinary Group said to go to Oak Hill Capital, IBM weighs sale of IBM Watson Health, Jim Momtazee's new healthcare fund could break records Morning, everybody!
Healthcare for your pets: Oak Hill Capital appears to be getting back into the popular veterinary care space after quietly exiting a stake in a larger industry asset last year, people familiar with the matter told PE Hub. In human-healthcare-technology news, the Wall Street Journal reports that IBM is exploring a potential sale of its IBM Watson Health business, citing people familiar with the matter.
Watch out: As PE Hub has written recently, ex-KKR healthcare chief Jim Momtazee has been building out an impressive roster at his new healthcare-focused private equity shop – most recently adding former Ares Management and KKR investors to the team. Now, sources told Buyouts, Patient Square is telling potential investors it could raise around...
Read the full wire commentary on PE Hub.
That’s it for today! Have a great weekend, readers, and in the meantime, hit me up with feedback, tips n’ gossip or whatever at [email protected].
Also of note (may require subscriptions)
Sustainable investing: California State Teachers’ Retirement System staff wants to make up to $150 million a year in private equity co-investments focused on “low-carbon solutions” to the climate crisis as part of its sustainable investments strategy, writes Buyouts. CalSTRS, like many public pension systems, has received pressure from activist groups to divest from fossil fuels. Read more here.
Poaching: Fifteen investment professionals have joined investment bank Jefferies from Greenhill, following a team of managing directors who moved across last year to start a secondaries advisory business, reports Secondaries Investor. Check it out here.
Thanks to SPACS: Credit Suisse Group AG’s deal-makers came to the rescue of the investment bank for a second straight quarter after tapping into the boom for initial public offerings and blank check companies, writes Bloomberg. The significant bump in capital markets revenue compensated for lackluster trading results, the report said.
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They said it “The transition to a low-carbon economy is creating opportunities to invest in solutions that are going to help the world de-carbonize.” Kirsty Jenkinson, the head of CalSTRS’ sustainability program, said at the pension's January 27 investment committee meeting, writes Buyouts.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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