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Open wide! GTCR’s Kos sees Texas expansion potential for 7to7 Dental; Three Sun Capital execs form new shop

Morning Hubsters!

This is Chris, on for Wire Thursday.

I spent time yesterday at PEI’s Investor Relations, Marketing & Communications Forum, listening to tales of the challenging fundraising trail and how firms are working to up their game in LP relations. Interesting time to be in IR!

• GTCR’s Kos sees 7to7 Dental practice buildout across Texas

• New firm Palm Peak forms with support from Sun Capital

• Brookfield’s European pipeline is “the fullest it’s been”

Teeth

GTCR, partnering with Avryo Healthcare, zeroed in on the San Antonio market for its anchor investment 7to7 Dental, writes Michael Schoeck on PE Hub today.

Find out more in the subscriber version of the Wire.

New shop

I always find it interesting when execs spin out of a larger firm, forming their own shop, with the backing and support of the prior firm. We’ve seen this scenario a few times, including with the spinout years ago of Nonantum Capital by ex-Charlesbank Capital executive Jon Biotti, which got the support of the larger firm.

Now comes news about Palm Peak Capital, formed by ex-Sun Capital dealmakers Daniel Florian, Steven Liff and Jeremy Stone. Palm Peak has the support of Sun Capital’s co-founders and co-CEOs.

Subscribe to the premium version of the Wire to read more.

Deals

Brookfield’s European PE pipeline is “the fullest it’s been in at least three or four years,” Tristan Tully, a managing partner in the firm’s PE group and head of its PE business in Europe, told PE Hub Europe’s Craig McGlashan. Read more here on PE Hub.

That’s it for me! Have a great rest of your Wednesday. Hit me up with tips n’ gossip, feedback or just to chat at [email protected] or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

HarbourVest Partners has set a $4 billion target for its seventh co-investment fund, which includes separate sleeves for buyout and growth equity strategies. (Buyouts)

CVC Capital Partners, which raised the private equity industry’s largest-ever fund last year, has found backing for its single-asset continuation fund transaction. (Secondaries Investor)

Aliment Capital  made an investment of an undisclosed size into Agrovision, a Los Angeles-headquartered grower, packer and marketer of blueberries, raspberries, blackberries and table grapes with operations in the US, Mexico, Morocco and Peru. (Agri Investor)

ODDO BHF Asset Management plans to raise €100 million for a program of fund investments, secondaries and co-investments. ODDO BHF Commit for Tomorrow is the firm’s first fund structured as an ELTIF (European long-term investment fund). (New Private Markets)

NorthBridge Partners has closed its latest value-add logistics fund above its fundraising target and is now back in the market for acquisitions after a buying hiatus. NB Partners Fund IV was oversubscribed at almost $950 million final close, ahead of the target at $800 million. (Private Equity Real Estate)

The Insurance Development Forum – a partnership of insurance companies and public bodies that encourages the insurance industry to contribute to the objectives of the Sustainable Development Goals – has announced plans to facilitate investment in climate resilient infrastructure in emerging markets. (New Private Markets)

Quantonation Ventures, an early-stage firm focused on quantum technologies, has held a first close on €70 million for its second fund, which is targeting €200 million. (Venture Capital Journal)

They said it

“Over many years, all three have made significant contributions to the success of Sun Capital, and the launch of this new firm will give them an opportunity to apply what they have learned at Sun Capital and build their own legacy.”

— Sun Capital co-founder and co-CEO Marc Leder said about the formation of Palm Peak Capital.