Genstar seen selling Mercer this year; Grant Avenue, led by ex-Apax investor, looks to expand; Amid excitement over opportunity zones, doubts emerge
Belcan LLC, a portfolio company of AE Industrial Partners LP, said May 23 that it invested in Robot Morning. Financial terms weren’t disclosed. Robot Morning, of Cincinnati, provides aerospace supply chain software and automation solutions.
Cerberus is seeking $3 billion for its first dedicated private equity fund, Bloomberg reported. Cerberus has already secured commitments from investors, the story said.
Private equity fund Vista Equity Partners has emerged as one of four U.S. bidders vying for a majority stake in WPP’s data analytics firm Kantar, Reuters reported.
PE firms are balking at the high price and slow pace of Vivendi’s sale of a stake in Universal Music Group, Bloomberg said. Vivendi is seeking a minimum value of 25 billion to 30 billion euros ($28 billion to $33 billion) for a minority of Universal Music, the story said. Vivendi is now targeting strategic buyers and has held talks with Tencent Holdings, Bloomberg said.
Duomodiag Sarl, a holding company backed by ArchiMed, has acquired Diesse Diagnostica Senese SpA. Financial terms weren’t announced. Diesse Diagnostica is an Italian developer of in vitro diagnostic (‘IVD’) systems for the diagnosis of infectious and autoimmune diseases, and hematology systems to test for inflammation.
Idera Inc said May 23 that Partners Group is investing in the company. Financial terms and the size of Partners Group’s stake weren’t announced. Partners Group is joining existing investors HGGC, TA Associates, and company management. Idera, of Houston, develops software that aims to help database professionals design, monitor and manage data systems. Kirkland & Ellis provided legal advice to Idera, while Ropes & Gray is legal adviser to Partners Group. Jefferies LLC and Credit Suisse acted as financial advisers to Idera.
Lion Street said May 22 that it completed a recapitalization of the company which returned equity the firm and its owners. Lion Street, of Austin, provides life insurance services. The company has raised $11.1 million in funding, from investors including Austin Ventures, PitchBook said.
Stratus Video LLC, a portfolio company of Kinderhook Industries LLC, said May 23 that it acquired InDemand Interpreting. Financial terms weren’t announced. InDemand, of Seattle, provides video and audio interpreting solutions for limited english proficient, deaf, and hard of hearing patients through medically qualified/certified interpreters.
EQT said May 23 that it acquired Melita Ltd. Financial terms weren’t announced. Apax Partners and Fortino Capital were the sellers. Melita, a telecommunications infrastructure company, provides Gigabit broadband services for households and small businesses, mobile and fixed telephony as well as TV services.
Wealth management has emerged as one of the hottest sectors in private equity, and the next big deal that’s likely to attract interest is Mercer Advisors, five sources said. The Denver company isn’t up for sale right now but is expected to go on the block this year, sources said. The deal represents a four-year […]
Vista’s sale of Omnitracs hits the second round; Thiel’s Block.one said to produce 6,567 pct return for early investors; more feedback on Smith’s Morehouse gift
OpenGate Capital said May 22 that it acquired the SMAC business of Colas Group. Financial terms weren’t announced. SMAC makes waterproofing and building envelope solutions.
VOOM said May 22 that it raised $5 million in a series A round led by Arbor Ventures. Investors include F2 Capital, Verizon Ventures, and Kaedan Capital, as well as new partner Plug and Play Ventures. Voom is an on-demand insurance platform for specialized mobility.
Block.one, a Peter Thiel-backed crypto startup, will return as much as 6,567 percent to its earliest investors in less than three years, Bloomberg reported. This translates to $6.6 million for a $100,000 stake, the story said.
Gordon Caplan, the former co-chairman of Willkie Farr & Gallagher, faces jail time after pleading guilty to conspiracy, Bloomberg reported. Caplan, who once headed the private-equity practice group at Willkie, admitted he bribed a consultant to help rig his daughter’s college board scores and that he conspired with William Rick Singer, the mastermind behind the scam, the story said.
Barrett Karr, House Minority Leader Kevin McCarthy’s chief of staff, is joining Silver Lake Partners, the Wall Street Journal reported. James Minn, a long-time McCarthy aide, will succeed Karr on an interim basis, the story said. Karr will join Silver Lake as its head of government relations, the WSJ said.
Anbang Insurance Group’s sale of a portfolio of 15 hotels has attracted Brookfield Asset Management Inc and Fortress Investment Group, Bloomberg is reporting. Blackstone Group LP, South Korea’s Mirae Asset Management, and GIC Pte, Singapore’s sovereign wealth fund, are also among the bidders, the Financial Times said.