Private Equity

EQT Reveals $3.5 Billion Midstream Joint Venture With Blackstone

By Amit Chowdhry ● Dec 1, 2024

EQT Corporation announced that it has entered into a definitive agreement with funds managed by Blackstone Credit & Insurance (BXCI), to form a new midstream joint venture (JV) consisting of EQT’s ownership interest in high-quality contracted infrastructure assets: 1.) Mountain Valley Pipeline, LLC – Series A, 2.) FERC regulated transmission and storage assets, and 3.) the Hammerhead Pipeline.

InfraRed Capital Partners: $1 Billion Closed For Sixth Value-Add Fund

By Amit Chowdhry ● Dec 1, 2024

InfraRed Capital Partners - an international infrastructure asset manager - announced the final closing of InfraRed Infrastructure Fund VI, with capital commitments above $1 billion USD, including co-investment vehicles and separately managed accounts (SMAs). This is InfraRed’s sixth flagship value-add infrastructure fund, which attracted institutional investors from North America, UK, Europe, and Asia.

Illumen Capital: Systemic Inequity Focused Firm Raises $32.75 Million For Catalyst Fund

By Amit Chowdhry ● Nov 30, 2024

Illumen Capital - an impact fund of funds addressing systemic inequity by reducing racial and gender bias in investing - announced the raising of its $32.75 million Catalyst Fund, a vehicle designed for supporting first-time fund managers and entrepreneurs, particularly those from underrepresented backgrounds.

Enlightenment Capital: $825 Million Fund V Closed

By Amit Chowdhry ● Nov 29, 2024

Enlightenment Capital, an investment firm focused on aerospace, defense, government, and technology (ADG&T) based in the Washington, DC, area, announced the closing of its latest fund, Enlightenment Capital Solutions Fund V, L.P.

Apse Capital: J.P. Morgan Leads €350 Million Continuation Fund Close

By Amit Chowdhry ● Nov 27, 2024

Apse Capital Limited announced today the closing of a €350 million continuation fund in connection with acquiring three existing assets from Apse Capital Bridge Fund.

LeapFrog Investments: $1.15 Billion Fourth Fund Closed

By Amit Chowdhry ● Nov 27, 2024

LeapFrog Investments announced the closing of its fourth fund, with commitments and designated co-investments totalling $1.02 billion. And LeapFrog’s initial target for Fund IV was $1 billion.

LLCP: $575 Million Multi-Asset Continuation Fund Closed

By Amit Chowdhry ● Nov 27, 2024

Levine Leichtman Capital Partners (LLCP) announced the closing of a $575 million multi-asset continuation fund transaction. And LLCP LMM Acquisition Fund, L.P. was formed to acquire interests in three portfolio companies: Blue Ridge Associates, Milton Industries and Resolution Economics – from LLCP Lower Middle Market Fund, L.P. (LMM II).

Silver Point: Specialty Credit Fund III Closed At $8.5 Billion

By Amit Chowdhry ● Nov 25, 2024

Global credit investing firm Silver Point Capital announced the final closing of Silver Point Specialty Credit Fund III, the latest fund in Silver Point's 21-year-old Direct Lending franchise. Inclusive of new commitments to other direct lending vehicles made during the period, the total capital raised for Specialty Credit Fund III (with anticipated leverage) surpassed $8.5 billion.

Snap! Mobile: $23 Million Growth Investment From Runway Growth Capital

By Amit Chowdhry ● Nov 22, 2024

Runway Growth Capital announced a $23 million growth capital commitment to Snap! Mobile, a leading fundraising platform for schools and organizations to support their sports teams, groups, and clubs. This funding will enable Snap! to expand its innovative digital platform and empower more organizations to raise critical funds for high school athletics and other extracurricular activities.

JobNimbus: $330 Million Raised From Sumeru Equity Partners

By Amit Chowdhry ● Nov 22, 2024

JobNimbus, a SaaS provider for the roofing industry, announced a $330 million growth investment from Sumeru Equity Partners. And existing investors including founder and CEO Ben Hodson, other co-founders Nick and Jason Wood, and Mainsail Partners will continue as investors in the business. This funding round will help JobNimbus scale its operations, expand product offerings, and continue its mission to transform the contractor technology space.

TA Associates: Strategic Investment In Vee Healthtek

By Amit Chowdhry ● Nov 22, 2024

TA Associates announced the completion of a strategic growth investment in Vee Healthtek, a prominent provider of technology-enabled solutions and services for healthcare organizations. This partnership enables Vee Healthtek to utilize TA’s global resources and extensive experience in the healthcare sector.

Jersey Mike’s: Deal Signed With Blackstone For A Reported $8 Billion

By Amit Chowdhry ● Nov 19, 2024

Jersey Mike’s Subs, a leading franchisor of fast-casual submarine sandwich stores known for fresh grilled subs, announced it has reached an agreement under which private equity funds managed by Blackstone – led by Blackstone’s most recent flagship private equity vehicle – will buy a majority ownership position in Jersey Mike’s. While the official figure was undisclosed, sources with The Wall Street Journal reported the deal was valued at $8 billion.

Bain Capital: Global Special Situations Fund Closed At $9 Billion

By Amit Chowdhry ● Nov 18, 2024

Bain Capital announced it completed fundraising for its latest Global Special Situations Fund, bringing the total amount raised for its second vintage of funds to $9 billion. This capital base includes Global Special Situations Fund II, which received $5.7 billion in total commitments, including co-investments and separately managed accounts, and $3.3 billion from the firm’s previously closed Special Situations Asia and Europe regional funds. This fundraising sets up Bain Capital as one of the largest special situations investors in the world.

The D. E. Shaw Group: $1 Billion Raised For Alkali Fund VI

By Amit Chowdhry ● Nov 15, 2024

The D. E. Shaw group - a global investment and technology development firm - announced that it has raised $1 billion in commitments for D. E. Shaw Alkali Fund VI. This closed-end vehicle will pursue a multi-strategy investment style and invest primarily in corporate debt, structured credit, synthetic securitizations, and other specialty asset classes.

Arketi Group Raises Funding From Pair Of Private Equity Firms

By Amit Chowdhry ● Nov 14, 2024

Arketi Group, a digital marketing and public relations agency for business-to-business (B2B) technology companies, announced that it has partnered with private equity firms Go Capital and Station Partners to lead a new B2B marketing and communications agency platform.

Godspeed Capital: $675 Million Fund III Closed At Hard Cap

By Amit Chowdhry ● Nov 11, 2024

Godspeed Capital Management LP - a lower middle-market Defense & Government services, solutions, and technology-focused private equity firm - announced today the final close of Godspeed Capital Fund III LP with $675 million of total investor capital commitments at the fund’s hard cap. And in combination with the firm’s predecessor funds, Godspeed Capital has raised over $1.1 billion in capital commitments since its inception in 2021.

HMC Capital To Buy iseek In $A400 Million Deal

By Amit Chowdhry ● Nov 11, 2024

HMC Capital announced it has entered into agreements to acquire iseek, a leading Australian co-location data center operating platform, as part of an A$400 million deal.

Nuveen: Katherine Elmore-Jones Named Named As Partner And Head Of Private Equity Business Development In Europe

By Amit Chowdhry ● Nov 11, 2024

Churchill Asset Management and Arcmont Asset Management, the U.S. and European asset management companies of Nuveen Private Capital (NPC) announced Katherine Elmore-Jones has joined as a Partner and Head of Private Equity Business Development in Europe. And Elmore-Jones will be based in Arcmont’s London office and report to Chris Freeze and David Burnside, Co-Heads of NPC Business Development.

Centana Growth Partners Buys Majority Stake In First Connect Insurance Services

By Amit Chowdhry ● Nov 11, 2024

Centana Growth Partners—a growth equity firm specializing in the financial services ecosystem—announced that it has acquired a majority stake in insurance technology platform company First Connect Insurance Services (formerly an indirect wholly-owned subsidiary of Hippo Holdings). Aviad Pinkovezky will continue as President and has been named CEO post-closing.