Private Equity

The Rawlings Group Raises Growth Investment From New Mountain Capital

By Amit Chowdhry ● Apr 5, 2024

The Rawlings Group (a leading coverage analytics provider ensuring payment accuracy on behalf of its health plan clients) announced a strategic investment from affiliates of New Mountain Capital (a leading growth-oriented investment firm with about $50 billion in assets under management). New Mountain is working with the Rawlings management team to support the company's next growth phase, which includes investments in artificial intelligence, product development, and expansion into new markets and capabilities.

Adenia: Fifth Flagship Fund Closed At $470 Million

By Amit Chowdhry ● Apr 5, 2024

Adenia Partners, a leading PE firm focused on growth opportunities in Africa, has closed its fifth fund, Adenia Capital V - known as AC(V) - at its $470 million hard cap. This fund was significantly oversubscribed and attracted commitments from new and existing investors globally.

Hildred Capital: Closes Multi-Asset Continuation Fund With Over $750 Million In Commitments

By Amit Chowdhry ● Apr 5, 2024

Hildred Capital - a healthcare-focused private equity firm specializing in partnering with middle-market companies - announced the closing of a multi-asset continuation fund led by Lexington Partners.

TPG To Buy Collision Repair Multi-Site Operator Classic Collision

By Amit Chowdhry ● Apr 5, 2024

Global alternative asset management firm TPG has agreed to acquire Classic Collision, a leading national collision repair multi-site operator. TPG Capital (the U.S. and European private equity platform of TPG) will buy the business from New Mountain Capital. Classic Collision’s management team will remain invested in the company. The terms of the transaction were undisclosed.

Brightwood Capital Advisors: Middle Market CLO Closed At $707 Million

By Amit Chowdhry ● Apr 4, 2024

Private credit firm Brightwood Capital Advisors announced that it had closed Brightwood Capital MM CLO 2024-2, a $707 million collateralized loan obligation (CLO). This CLO represents the second largest new issue middle-market CLO this year, bringing the firm’s year-to-date issuance to $862 million, and it makes Brightwood one of the top three largest middle-market issuers year-to-date (representing over 10% of the total middle-market issuance). This also marks Brightwood’s seventh CLO since 2019, bringing the firm’s total CLO issuance to over $3.5 billion.

OceanSound Partners: $1.15 Billion Single-Asset Continuation Fund Transaction Closed

By Amit Chowdhry ● Apr 4, 2024

OceanSound Partners—a PE firm that invests in technology-enabled services companies working with government and highly regulated enterprise end markets—announced the closing of a $1.15 billion single-asset continuation fund transaction in connection with the sale of its portfolio company, SMX Group, from OceanSound Partners Fund, LP.

ProsperCircle: Helping Make Product Management Job Searches Substantially Easier

By Amit Chowdhry ● Apr 4, 2024

ProsperCircle is a user-friendly platform designed to make the product management job search less soul-crushing. Pulse 2.0 interviewed ProsperCircle founder Salil Sethi to learn more about the company.

Advent International Taking Nuvei Private In $6.3 Billion Deal

By Amit Chowdhry ● Apr 4, 2024

Nuvei announced that it has entered into a definitive arrangement agreement to be taken private by private equity firm Advent International, with the support of each of the company's holders of multiple voting shares, including Philip Fayer, certain investment funds managed by Novacap Management, and CDPQ. This all-cash transaction values Nuvei at an enterprise value of approximately US$6.3 billion. The company will remain based in Montreal.

HKW Hires Laurence Lederer And Devraj Roy As Partners

By Amit Chowdhry ● Apr 4, 2024

Middle-market private equity firm HKW has hired Laurence Lederer and Devraj Roy as Partners. Based in HKW’s New York City office, Lederer and Roy will seek to advance HKW’s strategy of prioritizing investments in basic industrial manufacturing, distribution, and business services companies, including IoT/telematic and tech-enabled businesses.

Avista Capital Partners: Don Casey Joins As Strategic Executive

By Amit Chowdhry ● Apr 4, 2024

Avista Capital Partners, a New York-based private equity firm focused exclusively on healthcare, announced that Don Casey has joined the firm as a Strategic Executive. Casey most recently served as the CEO of Dentsply Sirona, one of the largest manufacturers of professional dental products and technologies.

One Equity Partners Buying Marine Energy Company Acteon Group

By Amit Chowdhry ● Apr 3, 2024

Hunter Point Capital Closes $3.3 Billion For Inaugural GP Stakes Fund

By Amit Chowdhry ● Apr 2, 2024

Hunter Point Capital (HPC), an independent investment firm providing capital solutions and strategic support to alternative asset managers, announced the closing of its inaugural GP Stakes fund (HPC Fund I) with $3.3 billion in permanent capital commitments, exceeding its initial $2.5 billion target. And HPC Fund I is the largest-ever debut GP Stakes fund dedicated to private market strategies.

DLA Piper Names Andrew Walker As Partner In Private Equity Practice

By Amit Chowdhry ● Apr 2, 2024

DLA Piper announced it has named Andrew Walker as an Austin-based partner in its Private Equity Practice. Walker’s practice focuses on representing private equity sponsors and their portfolio companies in complex business deals, including M&A, divestitures, creating new business platforms, and serving as outside general counsel.

Solace Capital Partners Invests In Siprocal

By Amit Chowdhry ● Mar 31, 2024

Solace Capital Partners, a leading private equity firm focused on providing creative capital solutions for middle-market companies, announced an investment in Siprocal.

Hildred Capital: Multi-Asset Continuation Fund Closed With Commitments Of Over $750 Million

By Amit Chowdhry ● Mar 30, 2024

Hildred Capital - a healthcare-focused private equity firm that partners with middle-market companies - announced the closing of a multi-asset continuation fund led by Lexington Partners and a leading group of limited partners. Lexington is one of the world’s largest managers of secondary private equity and co-investment funds.

WM Partners Reveals Investment Team Promotions

By Amit Chowdhry ● Mar 30, 2024

WM Partners, LP, a diverse-owned private equity firm certified by the National Association of Investment Companies, is focused on investing in lower-middle-market companies and driving value creation in the health and wellness sector. Today, it announced the promotions of several members of its investment team: Eli Minski to Principal, Jonathan Tarich to Senior Vice President, and Leon Lacs to Senior Associate.

Blueground: $45 Million Raised To Expand Flexible Rental Platform

By Amit Chowdhry ● Mar 29, 2024

Blueground - the largest global operator of furnished and flexible rentals for 30+ day stays - announced that it has secured $45 million in Series D funding. This funding round includes investments from new investor Susquehanna Private Equity Investments, LLLP (Susquehanna), and other notable investors, including WestCap. Blueground also raised a debt facility from Barclays with participation from Morgan Stanley, Deutsche Bank, and HSBC, which replaced its prior facilities with Silicon Valley Bank (SVB).

Kestra Brings In $600 Million Borger Financial Services Team

By Amit Chowdhry ● Mar 29, 2024

Kestra Financial - an Austin, Texas-based industry-leading wealth management platform - announced the addition of Borger Financial Services (BFS) to its community of advisors. BFS’s financial professionals bring over $600 million in client assets under management to the platform.

Percheron Capital: Fund II Closed At $1.55 Billion Hard Cap

By Amit Chowdhry ● Mar 29, 2024

LendingTree: $175 Million Raised From Apollo Funds

By Amit Chowdhry ● Mar 29, 2024

LendingTree - the nation's leading online financial services marketplace - announced that it had secured up to $175 million in financing through a first-lien term loan facility from funds managed by Apollo affiliates. LendingTree plans to draw $125 million from the facility upon funding, while the remainder will be available as a delayed draw the following year.

Blue Wolf Capital: Samantha Dwinell Named As Operating Partner

By Amit Chowdhry ● Mar 29, 2024

Blue Wolf Capital Partners - a middle market private equity firm specializing in the industrial and healthcare sectors - announced that Samantha Dwinell has joined the firm as an operating partner focusing on human capital.

Inflexion Names Martin Preuss As Partner And DACH Head

By Amit Chowdhry ● Mar 27, 2024

Inflexion, a leading European mid-market private equity firm, announced the appointment of Martin Preuss as Partner and Head of DACH, which covers Germany, Austria, and Switzerland. Preuss will lead Inflexion’s investments in the region and build a team in Frankfurt, further strengthening Inflexion’s international presence.

Mission Support Company Sayres Defense Buying Global Systems Technologies

By Amit Chowdhry ● Mar 25, 2024

Sayres Defense, a leader in defense mission support services for the US Navy, Department of Defense, and broader national security community, announced it has acquired Global Systems Technologies (GST). GST offers test and evaluation services, model-based systems engineering, logistics, and R&D to Defense and Homeland Security customers.

Pantheon: Kathryn Leaf Becoming CEO In 2025

By Amit Chowdhry ● Mar 25, 2024

Pantheon (a leading specialist global private markets investor) announced that Kathryn Leaf will become CEO. This move reflects the ongoing evolution of the firm’s leadership structure and the increasing scale of its global business. Leaf will succeed Paul Ward, who will become Executive Chairman following a successful decade-plus tenure heading Pantheon through substantial growth and expansion. The transition will be effective from January 1, 2025, subject to regulatory approval.

Waud Capital Partners Acquiring Senior Helpers

By Amit Chowdhry ● Mar 25, 2024

Waud Capital Partners (a growth-oriented middle-market private equity firm) announced the acquisition of Maryland-based Senior Helpers, one of the national leaders in home care and wellness offerings for seniors. Waud Capital is buying Senior Helpers from Advocate Health.

Schroders Capital Names Ingo Heinen As Global Head of Business Development and Product

By Amit Chowdhry ● Mar 25, 2024

Schroders Capital - a specialist private markets division of the Schroders Group - announced the appointment of Ingo Heinen as the Global Head of Business Development and Product.

Princeton Equity Group Names Jeremy Wright As Operating Partner

By Amit Chowdhry ● Mar 25, 2024

Princeton Equity Group  , a private equity firm focused on franchise and multi-unit companies, announced that Jeremy Wright has joined as an Operating Partner.

Fullerton Fund Management: $100 Million In Commitments Closed For Carbon Action Fund

By Amit Chowdhry ● Mar 22, 2024

Fullerton Fund Management announced it has successfully raised $100 million in the anchor close of its Fullerton Carbon Action Fund. This fund captures the major climate market opportunity in Emerging Asia by investing in companies at the forefront of accelerating decarbonization in the region.

Ampersand Capital Partners Acquiring Biological Solutions Company Biologos

By Amit Chowdhry ● Mar 21, 2024

Private equity firm Ampersand Capital Partners announced the acquisition of Biologos LLC, a full-service manufacturer of custom and standard cell culture media, reagents, buffers, enzymes, and sera. This partnership with Ampersand will include investments for expanding Biologos' capabilities, product offerings, and geographic reach to support its global cell and gene therapy, biopharmaceutical, tissue processing, and animal health customers.

Kester Capital: Oversubscribed Third Fund Closed At £200 Million

By Amit Chowdhry ● Mar 21, 2024

Kester Capital, a leading UK lower mid-market private equity firm, announced the successful final closing of its latest fund, Kester Capital III. The fund, which was oversubscribed, exceeded its target of £150 million and closed at its hard cap of £200 million, more than double the size of its predecessor fund.