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The Wire Feb. 4, 2022
PE firms tackle workforce management; NMS Capital invests in diagnostic imaging Good morning, Hubsters. MK Flynn here, with today’s Wire.
Workflow. Employment issues are top of mind, with the January jobs report delivering some surprises. Payrolls jumped by 467,000, compared with 199,000 in December; but the unemployment rate rose to 4.0 percent, up from 3.9 percent the previous month. The report serves as a reminder that workforce management challenges continue to mount. In recent months, private equity firms have been snatching up tech companies that aim to tackle the problems, including scheduling busy professionals and managing fluid workspaces in an era marked by hybrid work and thoughts of return-to-office. In the first five weeks of 2022, we’ve seen a slew of PE deals focused on these issues, as PE Hub reporter Aaron Weitzman observes.
Diagnostic imaging. In healthcare deal news this morning, DirectMed Parts & Service, a portfolio company of NMS Capital, said it has acquired LBN Medical.
Next week. On Monday, our series of Q&As with high-profile PE pros will continue with Brent Gledhill, president and CEO of William Blair, who will discuss how private equity and investment banking have changed over the last 25 years and what’s ahead in 2022. Check out our previous interviews with Pam Hendrickson, vice-chairman of The Riverside Company; Randy Schwimmer, co-head of senior lending at Churchill Asset Management and founder and publisher of The Lead Left; David Grain, founder and CEO of Grain Management; and Beatrice Mitchell, co-founder and managing director of Sperry, Mitchell & Co.
Deal of the Year. There’s just one week left to send in your nominations; the deadline is Friday, Feb. 11. So get your candidates in now. Send them to Chris Witkowsky at [email protected]. Visit here for more info about the awards.
Stay safe this weekend, as yet another winter storm sprawls its frigid way across the country.
All the best, MK
Read the full wire commentary on PE Hub ...
Also of note (may require subscriptions) GPs, especially the strongest performers and those investing in today’s popular strategies like enterprise software, are coming back to market quicker than ever. They’re raising larger funds and new products – taking most of the LP attention. (Buyouts)
Credibility on the line. The impact of sustainability-linked loans is now being felt in private debt. But managers need to make sure they do not stand accused of greenwashing. (Private Debt Investor)
Copenhagen Infrastructure Partners has officially launched its debut infrastructure debt fund, aiming to raise €1 billion to invest in both greenfield and brownfield projects in offshore and onshore wind, solar PV, biomass, storage and transmission assets. (Infrastructure Investor)
"Venture capital’s new race for Europe. The continent has been slow to develop tech unicorns. Can Silicon Valley’s creativity and cash spark a winning streak?" (Financial Times)
"Toshiba is reconsidering a plan to split itself into three companies, as investors continue to push the Japanese industrial conglomerate towards resuming buyout talks with private equity firms." (Financial Times)
"Carlyle Group’s $3.07 billion purchase of real-estate developer iStar’s net-lease business marks another high-profile entry by a large private-capital firm into the sale-leaseback market." (WSJ Pro)
"Consumer-focused Main Post Partners ... has set a target of $1 billion for what would be its third growth capital fund, according to people familiar with its efforts. The fund could exceed that level as Main Post hasn’t set an upper limit for it, the people said." (WSJ Pro)
"Unprecedented, and wholly unexpected deal volume in the last 12 months is creating significant challenges for Private Equity funds looking to invest in the healthcare sector. A panel of experts — Paige Daly of Harvest Partners, Sean Dempsey from Sheridan Capital Partners, Carmine Petrone of Advent International, and Neel Varshney from Patient Square Capital — discuss the key issues facing buyers in the healthcare market." (National Law Review)
"Facing the prospect of poor returns in traditional markets as interest rates rise, and with a natural desire for minimalist oversight, hedge funds and family offices are sharpening their focus on private markets and alternative investments." (Reuters)
PE Deals
They said it “As long as there are company buyers and company sellers, they will find imaginative ways to find each other and transact. Frankly, many of us have found that we are much more efficient by not traveling the way we did pre-covid.” — Beatrice Mitchell, co-founder and managing director, Sperry, Mitchell & Co.
Today's letter was prepared by MK Flynn 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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