PE HUB Wire Highlights, 3.12.19


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

Arcline Fund I closes on $1.5 bln; News Corp said to bid for Acuris; Shift4 Payments heads to second round

It’s warmer in NYC, Hubsters, and there’s not a snowflake — I’m referring to the white flaky kind that falls from the sky–in sight.

We have an update today on the Acuris auction, which is finally getting under way this week, the Financial Times is reportingRupert Murdoch‘s News Corp is expected to bid for Acuris along with several PE firms including KKRAdvent InternationalHellman & Friedman and EQT, the story said. Axel Springer, which bought Business Insider in 2015, is also interested, the FT said.

While this must seem like great news for Acuris’s owners, BC Partners and GIC, I would be cautious about News Corp. Mergermarket, I’ll admit, is a great competitor. They routinely beat their much larger rivals on deal scoops as well as smaller competitors like us. But if Acuris wants to remain a thriving media company I would think twice about going with News Corp. Just look at MarketWatch, which was once a scrappy media company that broke news. (Full disclosure, I used to work at MarketWatch, when it was awesome.)

In my opinion, there are better options for Mergermarket like Axel Springer or even another private equity buyer. Business Insider has gotten better since the 2015 sale to Axel Springer and even gets some scoops.

Where is Chris UllmanCarlyle Group’s longtime spokesman plans to write a book highlighting lessons he’s learned from his billionaire bosses, according to Financial News. Ullman left Carlyle in December to launch his own PR firm. Ullman hopes that “highlighting what makes the powerful and the rich successful can also show that they’re people like any other,” the story said.

FundsArcline Investment Management, the PE firm from Rajeev Amara, has closedits first fund on $1.5 billion. Amara is a former Golden Gate Capital managing director who left the firm in the fall to launch his own firm. Arcline is one of several shops formed by high-level executives who left bigger shops in the past year, Chris says.

137 Ventures’s fourth fund closed on $210 million. See our brief here.

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