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The Wire

Private equity deal news and insights from the London newsroom

Jul 4, 2025

 

Summit Partners among PE firms in skincare play; Cloud still tops AI, says Principal Asset Management

Morning all, Irien Joseph here with the Europe edition of the Wire from the London newsroom. 

 

We kick things off today with a spotlight on the skincare sector, where we’ve pulled together a list of six deals since the start of 2025.  

 

Next, we hear from Principal Asset Management’s Seb Dooley on why AI remains a nascent part of data center demand and explains why his firm favors cloud-oriented sites.

 

We’ll wrap things up with a tech add-on deal: Omni Partners-backedInfoshare has acquired an energy analytics software provider to UK housing providers. We also have insights from Omni's Elissa von Broembsen-Kluever.I will also round up other tech add-on deals PE Hub reported this week across the US and Europe.  

 

Chasing the glow

From moisturizers to serums, skincare is a subsector that keeps drawing in private equity investment, PE Hub’s Sophie Rose writes.

 

This is not the first time that the skincare industry has grabbed PE Hub’s attention. In December, PE Hub covered three trends boosting dealmaking in the sector.

 

Subscribe to the premium version of the Wire to find out how PE is leaning into beauty’s evolving trends and which brands are drawing capital. 

 

AI inference

AI may be accelerating demand for cloud infrastructure, but Principal Asset Management still prefers cloud-oriented sites, Seb Dooley, senior fund manager, told PE Hub. 

 

Find out why investors still see more stable returns in cloud infrastructure even amid AI surge in the premium version of the Wire. 

 

Stay tuned for an in-depth feature on Europe’s digital infrastructure sector, diving into topics like digital sovereignty and the AI landscape. 

 

With just a month until parts of the EU AI Act takes effect and European CEOs calling for a two-year pause, I’d love to hear what investors think. Drop me your thoughts at [email protected] 

 

Check out this story to find out more about the EU’s AI Act and how it affects dealmaking.

 

Building on tech

Let’s close with a tech add-on. Omni Partners-backed Infoshare (styled Infoshare+) has acquired Sava Technology, a Milton Keynes-based energy analytics software provider to over 220 social housing providers across the UK.

 

Read the premium version of the Wire to find out how Omni is stacking up data and software tools to help UK’s public sector.

 

Here’s a look at the other tech add-ons we covered this week across the US and Europe:

  • Pollen Street-backed Assessio snaps up Elevo
  • Advent-backed Syspro picks up riteSOFT
  • PE-backed Symplr buys AMN Healthcare’s Smart Squarescheduling software
  • Bridgepoint-backed LumApps to merge with Beekeeper
  • Riverside Company-backed VITG adds-on Instillery
  • PSG-backed Signaturit in talks to merge with Bain Capital-backed Namirial

That’s all from me for now. Please note that there’s no US Wire today due to Independence Day. Nina Lindholm will be back with the Europe edition on Monday.

 

Warmly,

 

Irien

 

Read the full Wire commentary on PE Hub ...

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Today's must reads

> PE eyes 'attractive tailwinds' in skincare: 6 deals More...
> GenNx360 Capital-backed Shenandoah hunts for add-ons More...
> EQT backs Europa Biosite as EU looks to bolster life sciences More...
> Exclusive: DuneGlass platform Allied OMS acquires four oral care practices More...
> Behavioral health, pediatrics still viable for private equity, but Medicaid-dependent hospitals, nursing homes less attractive More...

Also of note (may require subscriptions)

 

LPs predict new manager formation will overtake GP M&A: Whether there are more or fewer emerging managers vis-à-vis consolidations will depend greatly on when sustainable levels of fundraising return. (Private Equity International)

 

UTIMCO scales up PE exposure, considers secondaries market: The endowment increased its 2026 policy target for private equity, looking to hit a 30% allocation mark in coming years. (Buyouts)

 

Real estate secondaries has plenty of room to grow, but pricing can be a challenge: While real estate assets can see discounts upward of 50% of NAV, buyers are still bullish on the strategy's long-term growth. (Secondaries)

 

Ports: The tariff calm before the storm? Port investors say they are weathering the uncertainty well after the chaos following the Trump administration’s sweeping Liberation Day tariff announcements. (Infrastructure Investor)

 

The ‘ADCs’ of landing your first placement agent: Three elements can make the difference between an emerging manager winning over increasingly selective placement agents and going it alone. (Private Funds CFO)

Deals

> 424 Capital-backed Climate Efficiency picks up Tri-Tech Energy More...
> Apollo buys Suma Capital’s stake in TradeInn More...
> Olo to be acquired by Thoma Bravo in $2.0bn deal More...
> EIC wraps up acquisition of specialty airline Canadian North More...
> Abry Partners injects capital into insurance agency Oracle RMS More...
> Wabtec buys Bain Capital-backed Evident’s inspection technologies division More...
People
> Partners Group hires Stéphane Tetot as managing director More...
> Behrman Capital’s Simon Lonergan to lead firm as sole managing partner More...
> Ara Partners expands PE team with MD and principal appointment More...

They said it

“Conversely, demand for traditional cloud compute is much more proven, profitable and robust, supported by mega-cap tech companies and wide dependency, allowing investors to benefit from the expansion of AI, without over allocating to high risk, model-training facilities.”

— Seb Dooley, senior fund manager, Principal Asset Management

 

Today's letter was prepared by Irien Joseph

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