PE HUB Wire Highlights, 10.21.19


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

Private equity’s 99 problems; 21st Century Oncology seeks buyer; Romney admits to Pierre Delecto Twitter account

Who here is following “@Pierre Delecto” on Twitter?

I must admit that this morning I’ve signed up to follow about three different versions of this account, trying to find the one that Sen. Mitt Romney is behind. Romney, the Bain Capital co-founder, has admitted that he’s behind the Twitter account, according to several press reports.

The Twitter account is another step in the rebirth of Romney, who ran for president in 2012. I don’t know how much of this is strategic, or accidental, but Romney has somehow made himself interesting and relevant.

Take note, Hubsters. As we head into the presidential election, private equity appears to be taking the blame for many things. Romney, who is being called the “newly rebellious senator,” has turned things around. How will private equity take charge of its narrative?

With that, Joseph Weitemeyer has a report this morning on private equity’s 99 problems. (Yes, now I have the Jay-Z song running through my head.) As of Oct. 7, there were 99 companies getting hit with a distressed credit rating, up 29 percent from this time last year. Find out which companies made the list here.

Today’s interesting people move comes from General AtlanticJustin Sunshine is joining the firm as a managing director. He will focus on healthcare. Sunshine spent the last decade at BlackstoneSee our brief here.

One Rock Capital is buying Innophos Holdings Inc for $32 a share or about $932 million, including debt. Innophos produces ingredients for the food, health, nutrition and industrial markets. Check out our brief here.

CONTINUE READING