| View this email online The Wire Aug. 3, 2021 Regal HCP hits the ground running with two partial exits, Abry Partners brings Smart Start to market Happy Tuesday! I hate to say this but it looks like summer's almost over. It was definitely hard to make the most of these months amid the surging Delta variant but I hope the coming weeks end on high note! Moving along from all the summer dreamin', it looks like Regal Healthcare Partners, an emerging manager, has been off to a blockbuster start. Launched in 2018, the firm has marked first partial exits from both Fund 1 and Fund 2. Regal HCP will return almost 1.7x of Fund 2 and it's set to return over half of Fund 1 to investors as it sells down stakes in Thriveworks and Dental365, according to an LP letter received by PE Hub. Most successful new healthcare firm ever? Read Sarah's story on PE Hub for more details on the exits. On the market: We have news about a technology business on the market. Backed by Abry Partners, Smart Start, a platform that prevents intoxicated drivers from operating a vehicle, is looking for a buyer. Jefferies is advising the company on the process, which recently kicked off, sources familiar with the process told PE Hub. The company generates around...Read it on PE Hub. Read the full wire commentary on PE Hub... That’s it for me! Hit me up with tips n’ gossip, feedback, anonymous information or just to say hi at [email protected] or find me on LinkedIn. Also of note (may require subscriptions) Offer that can't be refused: Goldman Sachs Asset Management, Partners Group and HarbourVest Partners are lined up as buyers in Berkshire’s tender offer process that will allow investors in its eighth and ninth funds to sell their interests at premium pricing, three sources told Buyouts. Blackstone's strategy works: Blackstone is seeking $4.5 billion for a fourth fund earmarked for tactical opportunities, a 10-year strategy the private equity giant pioneered. Blackstone Tactical Opportunities Fund IV’s target was disclosed in a document published last month by Teachers’ Retirement System of Louisiana. TRSL is committing $125 million. Read it here on Buyouts. Boosting pay: Following other Wall Street banks, Goldman gave its junior bankers a big raise. The firm is increasing base pay for its entry-level employees—first-year analysts—to $110,000, a nearly 30% increase from the previous starting salary of $85,000, according to a person familiar with the matter. Second-year analysts are set to make $125,000, up from $95,000. Salaries for first-year associates will jump to $150,000 from $125,000, WSJ reported. PE Deals They said it “We have a fundamental view that growth [companies] will always be highly valued; people always pay for innovation.” Matt Hobart, co-managing partner of TPG Growth talked me to about the firm's growth fund strategy in an interview for Buyouts. Today's letter was prepared by Karishma Vanjani Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 