| KKR and JW-backed Arbor sold to NovaQuest's Azurity Pharmaceuticals, Riverside Partners hires former Linden investor, TA Associates acquires software company
Morning, everybody!
This is Karishma, back with your Tuesday morning wire. Today's news cycle is all about healthcare and tech, beginning with the acquisition of KKR and JW Asset Management-backed Arbor Pharmaceuticals by NovaQuest's Azurity Pharmaceuticals.
Azurity offers products across the cardiovascular, neurology, gastro-intestinal and institutional markets. The combined company will haveincreased scale and diversification, a breadth of dosage forms, integrated capabilities, and expanded market presence to better serve patients’ needs, according to Amit Patel, chairman and CEO of Azurity. Read the brief on PE Hub. In other healthcare news, Riverside Partners is building out its senior healthcare roster with the addition of Michael Bernard, who joins from Chicago’s Linden Capital Partners, a healthcare-exclusive private equity firm. “It’s a very, very active time. Valuations are high and people are concerned about increasing tax rates. We’re seeing a number of founder-owned companies looking for liquidity," General Partner David Belluck told PE Hub's Sarah Pringle.Read the story on PE Hub.
Scaling software companies: PDQ, a provider of IT asset management software for small and medium-sized businesses, announced an investment from TA Associates. The aim is to expand the portfolio of easy-to-use IT asset management and scanning software solutions. "Given the sizable and fragmented IT systems management market, we see opportunities for accelerating growth. In collaboration with PDQ, we’ll focus on promoting the company’s compelling value proposition to expand PDQ’s customer base,” said Harry Taylor, a managing director at TA. Read the brief on PE Hub.
That's it for me! Have a great week ahead, and as always, write to me at [email protected] with your comments, tips or just to say hello.
Also of note (may require subscriptions) Widening LP base: The Nordic-focused firm, Axcel Management, which has closed its latest vehicle above target, wants to raise capital from US and Asian investors next time around. The firm had an €800 million target for Axcel VI, according to a statement seen by Private Equity International.
How ESG reporting is maturing: ESG is splitting institutional investors into three camps. LPs are either going full-bore on responsible investing and expect no less of their managers, maintain that ESG is solely about capturing sustainable returns or are continuing with business as usual. Read more on New Private Markets.
Apollo eyes Brit grocer: U.K.'s second-largest grocer Sainsbury is attracting interest from Apollo Global Management amid wider consolidation in the sector, according to a Bloomberg report.
PE Deals 
They said it “When we as minorities approach the investment world or the Silicon Valley world, they look at us and say, ‘Well, you haven’t proven yourself,’” Montoya says. “I’m sorry to say… but who cares? I don’t give a squat.” Martha Montoya, CEO of Agtools, a technology start-up fighting climate change told New Private Markets.
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. 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. 
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