AEA-Bridges Impact Corp raises $400m for IPO, The long-hold trend in private equity takes a major leap forward, Altimeter SPAC goes public

AEA-Bridges Impact Corp raises $400 million for its IPO and behind the trend in private equity to take the "long term."

Happy Friday!

A trend that has been percolating for several years in private equity exploded to the surface this week in a partnership between sovereign fund Mubadala and Silver Lake.
Mubadala agreed to invest $2 billion with Silver Lake with a deployment horizon of 25 years. The capital will be invested across structures, geographies and industries in both early to later stage businesses.

At the heart of the partnership is the idea of holding growing businesses for the “long term.” The partnership highlights the firm’s “long-term commitment to our portfolio companies,” Silver Lake’s co-CEOs Egon Durban and Greg Mondre said in a statement.

This trend, which we’ve tracked all year starting with our January cover story, is nothing short of a fundamental rethinking of how private equity works. It flies against the perception of private equity firms as quick strip and flip shops. Read more here.

Top Scoops
AEA-Bridges Impact Corp priced its debut SPAC of 40 million units at $10 per, listed on the NYSE. The SPAC will pursue a company in any industry or geography incorporating the tenets of the UN Sustainable Development Goals.

AEA-Bridges is led by John Garcia, executive chairman of AEA Investors, and Michele Giddens, co-CEO and co-founder of Bridges Fund Management. Other senior professionals of AEA and Bridges will help lead the SPAC. Read more here on PE Hub.

Have a great weekend! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.