PE HUB Wire Highlights, 6.6.18


Photo of Luisa Beltran, PE HUB Senior Editor, courtesy of Buyouts Insider.

Ex-CEOs from Thomson Reuters, NYSE launch debut fintech fund; NextGen Fund I raises more than $50M; Seidler Equity, MLB to buy Rawlings Sporting Goods for $395M

It’s Wednesday, Hubsters. I’m going to admit that I was shocked by the Kate Spade news. I also have no idea how to deal with mental illness, especially when I see it in friends and family. Outside of telling people to “get help,” I’m at a loss. Any thoughts, Hubsters? How do you deal with this issue?

In other news, I stopped by Bloomberg Invest New York yesterday. There was lots of talk about the economy and whether we’re in a bubble. Jonathan Lavine, co-managing partner of Bain Capital, admitted that he doesn’t know where we are in the credit cycle. Lavine said that he does believe that confidence can extend a business cycle. “Overconfidence can kill it,” he said.

There’s been lots of news regarding President Donald Trump’s proposed tariffs and a possible trade war. Lavine said that the tariffs could take away half the benefits that came from 2017’s tax changes.

He also talked about Bain’s deal, announced in December, to manage Harvard University’s $3.4 billion direct real estate investments. Bain would’ve done this investment in any cycle, Lavine said. “We like very much the strategic way they approached their business,” he said.

Later in the day, Joe Baratta, global head of Blackstone’s private equity group, predicted that a “recession will come but it won’t be as severe as 2009.”

When asked about the massive levels of dry powder available, Baratta said he was less worried about that. What makes the environment more difficult is that there are now buyers in the market “that weren’t there a decade ago,” Baratta said. He mentioned family offices, former executives of firms, and even customers.

Funds and dealsNextGen Growth Partners, out of Chicago, has raised more than $50 million with its debut fund. See our brief here.

 

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