PE HUB Wire Highlights, 5.15.19


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

Lexington raises $10B for latest secondaries fund; KKR to buy Corel from Vector; CalPERS develops plan to reboot PE co-investments

It’s midweek, Hubsters.

We’ve talked a lot about bubble fears and how many expect a downturn to come very soon. Those fears appear to be one step closer to reality with the threat of a U.S.-China trade war. Many have said that tariffs are the one thing that could put a stop to the surging U.S. economy.

Despite a relief rally on Wall Street Tuesday, there is still a danger that a prolonged conflict could dent the economy on both sides, CNBC is reporting. Hubsters, what do you think? How dangerous would a trade war be for the economy and PE? Will the bubble finally burst? Email me at lbeltran@buyoutsinsider.com.

Funds: Chris, who is attending the IFC EMPEA Global Private Equity Conference in Washington, is reporting that Carlyle Group is raising its second Africa fund. Carlyle has deployed around 90 percent of the capital from its debut pool, which closed on around $700 million in 2014. Find out more about the fundraising here.

Lexington Partners is close to the target of its latest secondaries fund, in what would be the largest pool of capital raised for the strategy, Buyouts’ sister publication, Secondaries Investor, reported. The firm had raised $10 billion for Lexington Capital Partners IX as of late April, approaching the $12 billion target, PEI said.

Another unicorn? Crowdstrike, the cybersecurity company backed by Warburg Pincus and Alphabet, has filed to go public. The $100 million placeholder didn’t reveal how many shares the company would sell or their price. That’ll come in future filings. Crowdstrike has raised $481 million in funding, MarketWatch said. See our brief here.

Deals: One transaction many people are waiting for is Instamed. Final bids for the healthcare payments company were due late last month, Buyouts has reported.

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