Madison Dearborn Partners and Providence Equity Partners may get some of their money back when CDW goes public. The Vernon Hills, Ill.-based technology products retailer filed last week with the SEC to raise as much as $500 million in an IPO.
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While a PE firm might seem like a strange bedfellow for an enterprise like the NFL, Providence Equity Partners is an investment firm that has had major successes investing in digital and traditional media alike.
The National Football League and Providence Equity Partners have formed a strategic partnership to focus on investing in sports- and entertainment-related media assets, writes Reuters. The NFL and the New York-based private equity firm said they will commit equity and jointly operate the global strategic partnership. Terms of the commitments were not public.
The National Football League and Providence Equity Partners have formed a global strategic partnership to invest primarily in sports and entertainment-related media assets. The NFL and Providence will each commit equity to the partnership and operate it jointly, leveraging the NFL and Providence’s media expertise. The partnership will target growth equity investments of approximately $25 to $50 million in private companies around the world and have the capacity to make larger investments as needed.
Scott Werry, who worked at Providence Equity Partners since 2005, has joined Altas Partners as a Principal. Mr. Werry’s experience includes serving on the Board of Directors of Q9 Networks Inc., acquired in a buyout deal in 2012, and a role at McColl Partners, a mid-market investment banking firm. The Toronto-based Altas, which is focused on core private equity and long-term investment horizons, was founded in 2012 by Andrew Sheiner, former Managing Director at Onex Corp.
Providence Equity Partners is getting more time to wrap up its latest mega-fund. The firm’s LPs granted the media-focused PE firm a six-month extension, until June 30, to close its seventh fund, several placement and LP sources say.
Perhaps Providence Equity Partners Inc. and The Carlyle Group LP did well to get out before things got worse for portfolio company Open Solutions Inc., sister magazine Buyouts reported.
Dell is in talks with two private equity firms to go private, Bloomberg News reports.
European powerhouse CVC Capital Partners takes the crown in this week’s battle of the U.S. and European mega-buyout houses, securing first place in our list of top 10 funds based on private equity performance figures from California State Teachers’ Retirement System. U.S. and European firms both account for five of the top-10 spots with The Blackstone Group coming in a close second place.