PE HUB Wire Highlights, 1.8.19


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

CalPERS senior exec seen as “instrumental” to PE strategy resigns; PE dominates Cashnet sale; TriArtisan said in talks to buy P.F. Chang’s

While 2017 may have been the year of fundraising, 2018 was the year for dealmaking, according to Preqin. There were 5,106 PE backed deals announced in 2018, valued at $456 billion. This is the second highest total since the global financial crisis, Preqin said, but still a third off the $700 billion recorded in 2007.

Add-ons accounted for 42 percent of deals in 2018, Preqin said. There were 54 public-to-private transactions last year. That represented 17 percent of deal value but only 1 percent of deals.

Exits remained strong. Last year saw 1,958 exits announced worth a combined $326 billion. This is up from 1,977 exits in 2017 valued at $297 billion in 2017. The biggest exit in 2018? KKR’s $8.3 billion buy of BMC Software, Preqin said. Sellers included Bain CapitalGolden Gate Capital, GIC and Insight Venture Partners.

DealsTriArtisan Capital Partners is in talks to buy P.F. Chang’s, the Chinese food restaurant currently owned by CenterbridgeBloomberg is reporting. Hubsters, what do you know about this deal and TriArtisan more broadly? Email me at lbeltran@buyoutsinsider.com

It’s all private equity in Blackboard Inc’s sale of CashnetProvidence Equity Partners ownsBlackboardRead my story about the sale here.

There are many healthcare announcements this morning, coinciding with JP Morgan’s 37th annual healthcare conference in San Francisco right now. One of the more notable deals is Healthgrades, a Vestar Capital Partners portfolio company, buying Influence Health. Sellers include Silver Lake Sumeru and Essex Woodlands.

Dan Shoenholz and Peter Gates, of EY-ParthenonErnst & Young LLP, have written a column on how PE investment does boost healthcare organizations’ value beyond financial performance. Read the article here.

News from Buyouts/ VCJ: What’s going on at CalPERSElizabeth Bourqui, the senior executive seen as instrumental to its PE strategy, has resigned from the pension plan, Dietrich Knauth is reporting. Bourqui had been on the job for less than a year.

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