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The Wire Nov. 20, 2020
Apax to make 4x-plus on ECI, Warburg joins Great Hill as investor in Quantum Health, GTCR takes two healthcare companies public, Warburg's Hygiena hits the auction block
Happy Friday!
The “long-hold”: For many prized portfolio businesses, selling private equity investors are choosing to stay on as minority shareholders (or in some cases through 50-50 ownership structures). A recurring theme in this environment, GPs are looking to capture additional upside in businesses they really believe in, and in some cases, it adds a degree of comfort for the buyer due to the large transaction size.
Today we’ve got two such examples.
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Also of note (may require subscriptions) Fresh Powder: Centerbridge Partners unveiled a fourth flagship offering with a $6 billion target just weeks after co-founder Jeff Aronson officially took charge of the formerly jointly run firm, Buyouts reports.
Tech approach: Bloomberg writes that Blackstone has tapped Jennifer Morgan, the former co-CEO of German software giant SAP, to help companies across its portfolio grow by embracing new technologies.
ESG: EQT’s latest fund-subscription line is linked to ESG performance, WSJ reports.
PE Deals
They said it
"From a productivity standpoint ... this is a step forward ... You can get a lot more done in a much shorter period of time."
Jean Eric Salata, CEO and founding partner of Hong Kong-based Baring Private Equity Asia, speaks to the benefits of virtual fundraising in an interview with Pensions & Investments.
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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