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The Wire Feb. 12, 2021
Riata Capital sees opportunity in residential services, Blackstone's Bumble rallies in public debut, final day for Deal Award submissions
Happy Friday!
Quick note to readers: the wire will not run on Monday, February 15th. We'll be back to regular programming on Tuesday following the holiday weekend!
And one more reminder -- today is the deadline to send us your best exit from 2020 for our Deal of the Year awards. Make sure to send your awards submissions directly to Chris at [email protected] if you haven't already.
Alas, for today's news... Riata Capital Group is diversifying into the home services sector and plans to invest up to $200 million in the next three to five years, starting with its latest investment in a subscription-based pest control service, Greenix Pest Control, writes Karishma Vanjani. Elsewhere, the IPO craze continues. Blackstone-backed dating app Bumble saw its shares rally 64 percent in their public debut Thursday, pushing its value to about...
Read the full wire commentary on PE Hub.
That's it for today! Have a great weekend, and as always, write to me up with tips, feedback or whatever at [email protected].
Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards. Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian. If you have additional questions, email Private Equity Editor Chris Witkowsky at [email protected].
Also of note (may require subscriptions) Post-succession: Levine Leichtman Capital Partners, which last year completed a management succession plan, is back in the market with a third lower mid-market offering, Buyouts reports. Read how much the Los Angeles fund is targeting here.
Next gen: With change underway at Crestview Partners, Buyouts recently chatted with Brian Cassidy and Alex Rose, who were promoted to co-presidents, and Barry Volpert, who will continue in the roles of CEO and CIO, about the future of the firm. Check out the full Q&A here for insight on the future of the firm.
Topping expectations: Shares of New Mountain Capital-backed Signify Health finished nearly 32 percent higher Thursday after the technology-enabled healthcare company’s initial public offering priced above the expected range, writes WSJ Pro. Read it here.
PE Deals
They said it “I don’t think the pandemic turned the industrial sector completely on its head. We still see a number of opportunities taking businesses with more traditional industry 3.0 revenue models, selling a product or a service, but where there are untapped data driven industry 4.0 opportunity sets.” Alex Rose, recently promoted to co-president at Crestview Partners, tells Buyouts how the pandemic has impacted the firm’s lockdown strategy.
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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