PE HUB Wire Highlights, 9.6.19


private equity, mergers, M&A
Private Equity Editor Chris Witkowsky reflects at home. Photo by Wendy Witkowsky

Fundraising slows, deal activity remains sluggish, Banks buying placement agencies

Happy Friday!

Good to be back in the grind. How’s your September kicking off? Any big funds, or secondary deals? Hit me up at cwitkowsky@buyoutsinsider.com, or drop up an anonymous tip on PE HUB.

Fundraising finally slowed after keeping up pace through the summer, according to Buyouts data compiled by data czar Joe Weitemeyer. Fundraising added about $1.8 billion to its year-to-date total, which is now at $227.8 billion.

One of the large fundraisings recently was EW Healthcare, which closed its second growth fund at $745 million, beating its original target of $650 million.

Dealmaking, on the other hand, continued it sluggish pace, adding just $1 billion to its year total, which now stands at $113 billion, 24 percent lower than this time last year, Buyouts found.

The full activity report will be published Monday when the next issue of Buyouts goes live. Check out it!

Speaking of fundraising, I’m also expecting Kline Hill Partners to launch its third fund this month. The firm meanwhile has hired Flag Capital executive Louis Sciarretta as chief operating officer. Sciarretta joins as Kline Hill continues to expand from its beginnings in 2015. Check out my story here.

Banks: Big news this week was PNC Bank buying placement agency Sixpoint Partners. Sixpoint was formed in 2007 by Eric Zoller. PNC acquired a majority interest in the firm over the summer in a deal that closed July 31, I reported this week. For whatever reason, the bank and the firm did not make the deal public, but it was all the chatter in the market for a while.

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