The Wire

March 22, 2021

Calypso goes to Thoma Bravo, Why H&F, Warburg-backed Edelman is staying private, Growthy healthcare assets ready IPOs

 

Morning!

 

Thoma Bravo has prevailed in the hotly contested sale process for Calypso Technology. Tech scoopster Milana Vinn is on Spring Break this week, but she wrote in early March that 10 PE shops and a few strategics were expected to bid for the capital markets technology business in the auction’s first round. At the time, sources predicted the business could trade hands for...

 

Have any idea where value landed? Write to me here.

 

Against the grain: Believe it or not, not everyone wants to join the hot public markets right now even if they appear to be “public ready”. That includes Hellman & Friedman’s Edelman Financial Engines, which after scoring a minority investment from Warburg Pincus last week was valued at $7.3 billion. The IPO and SPAC market dynamics aren't tempting Edelman Chief Larry Raffone: “It’s not what you can go out with; it’s what you can sustain." The RIA giant is already proving a winning investment for H&F, with the deal valuing its initial 2015 investment at more than...

 

Read the full wire commentary on PE Hub. 

 

As always, write to me up at [email protected] with any tips, comments or just to say hello!

 

 

 

Also of note (may require subscriptions)

The fundamentals: L Catterton, a veteran consumer investor, is on the cusp of closing its ninth fund on its cap of $4.5 billion, sources told Buyouts. The firm believes consumers’ fundamental wants and needs have not changed because of the pandemic lockdown - only how consumers fulfill those needs. Read more here.