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Sophia Popova from Summit, Brooke Sorensen from Apollo honored by PE Hub and Buyouts; ATL launches portco sale

Good morning, Hubsters. Senior reporter Michael Schoeck here with the US edition of the Wire from the New York newsroom.

We’ll kick off with Women in PE: The class of 2025. Congratulations to this year’s honorees. Each year, the special report from PE Hub and Buyouts showcases 10 individuals who stand out in the private equity industry. We’re featuring these profiles in alphabetical order every day this week.

Today we’re highlighting Sophia Popova from Summit Partners and Brooke Sorensen from Apollo.

We’re also featuring two exclusives on the Hub today: First is my scoop on ATL Partners shopping a specialty logistics company. And the second is a scoop from Chris Witkowsky, Madeleine Farman and Hannah Zhang on a Leonard Green & Partners continuation fund for five companies.

And we’ll wrap up with PE Hub’s weekly companies for sale update.

Let’s first take a look at the final two Women in PE series profiles.

Call tech support

Sophia Popova has always loved technology. When she was in college, she majored in economics and math. But while in school, she worked part-time in tech support, writes Rafael Canton.

“If someone spilled their chai latte on their laptop while they were writing their dissertation, I would go and replace their motherboard or I would set up the router for the physics department that needed extra Wi-Fi,” she says.

That passion for technology has stuck with Popova. It culminated in her ascent to partner at Summit Partners. After undergrad, she joined Morgan Stanley to build a core skill set in financial accounting, evaluation, analysis and modeling.

To hear more about Popova’s love of technology that blossomed into a private equity career, register for the premium Wire.

Relationship fostering

If there is one thing that has sustained Brooke Sorensen throughout her career, it’s her staunch belief in the power of relationships. For Sorensen, it’s been the key to her success, writes Iris Dorbian.

“What I’m most proud of is taking a long-term view to both relationships with the people I work alongside today, as well as with those from each prior experience of my career,” says the Emory University grad.

“Each step builds on itself. Having perspective on what our clients, my team, and firm culture brings is what I believe has ultimately shaped my career path.”

Learn more about Sorensen’s professional development from relationship building by upgrading to the premium Wire.

Rock and roll logistics

ATL Partners recently launched a sale process for a specialty freight forwarding and logistics provider to live entertainment events, sources briefed on the matter told PE Hub.

Readers of the premium version of the Wire can access the full article with details on valuation and advisers.

Continuation carry-over

Leonard Green & Partners is running a larger continuation fund process that will move several assets out of older funds into continuation pools, writes Chris Witkowsky, Madeleine Farman and Hannah Zhang.

The CV deal seeks to move five portfolio companies into a continuation fund.

Upgrade to the premium version of the Wire for more intel on the CV, including which companies are included.

Companies for sale

So far this year I’ve been briefed on around 90 private equity-backed, corporate carveouts or founder-owned companies said to be in the market or coming to the market within the next quarter. 

Subscribers of the premium version of the Wire can access additional Companies for sale content.

That’s a wrap for me. Just a head’s up that I’ll be attending ACG’s DealMax 2025 conference next week, April 7-9, in sunny Las Vegas. If you’re stopping by and want to talk deals on the Vegas Strip, shoot me a note at [email protected].

Keep an eye out for the Europe edition of the Wire tomorrow from Irien Joseph and the US edition from John R Fischer.

Cheers,

Michael

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Plannera in January marked its first year as an adviser to Saskatchewan pension and benefit plans, some of them well-established investors in private markets. (Buyouts)

Coller Capital, the London-based secondaries investment firm with $35 billion in assets, has acquired a $1.6 billion portfolio of interests in 44 private debt funds – primarily senior direct lending – from American National Insurance Company. (Private Debt Investor)

Roughly 10 percent of European institutional investors are either considering or have already made an allocation to natural capital, Reach Capital co-founder and managing partner William Barrett told Agri Investor.

Almost one-third of the capital for Revaia‘s second fund, which closed on €250 million this week, was provided by international LPs, according to founding partner Alice Albizzati. (New Private Markets)

Why one CEO is unfazed by negative sustainability sentiment: Generate Capital's CEO is focused on a net-zero future. (Private Debt Investor)

With investment into infrastructure debt rising fast and pricing tightening accordingly, some capital allocators are taking on more risk to achieve desired returns, Infrastructure Investor Network members heard at a recent Global Summit, in Berlin.

Impact investment funds are busily courting LPs on the fundraising trail, despite what some see as a retreat from the sector by US institutional investors. According to the preliminary results of a survey by trade association Impact Capital Managers, 56 percent of member funds are currently fundraising, while 16 percent expect to begin marketing new funds either later this year or early next year. (New Private Markets)

BC Partners Credit, the private credit arm of BC Partners, has closed on its Special Opportunities Fund III at $1.4 billion, surpassing both its target ($1.25 billion) and predecessor fund, SOF II ($1.2 billion). (Private Debt Investor)

Montana Capital Partners has acquired a strip of interests within a private equity portfolio owned by its ultimate parent Prudential Financial. (Secondaries Investor)

Accel-KKR is running a continuation vehicle process to hold on to an asset it had already moved into a CV nearly six years ago. (Secondaries Investor)

Partners Group will be taking over a sizeable portion of a Spanish biogas company’s board seats as part of a single-asset continuation fund deal. (Secondaries Investor)

Emerging markets infrastructure debt firm ImpactA Global has been having conversations with developed markets private investors as it continues to raise capital for its first fund, according to co-founder Isabella da Costa Mendes. The firm announced the fundraise had hit $200 million on Thursday. (New Private Markets)

Deals

They said it

“Different voices come in all shapes and sizes but together can lead to great outcomes.”

— Brooke Sorensen, a partner at Apollo, in Women in PE: The Class of 2025

Today's letter was prepared by Michael Schoeck

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