Leonard Green joins TPG as investor in Wellsky, topping $3bn valuation, Vista Equity process for Granicus passes second round, Blackstone taps wealth networks for debut growth fund

Carlyle's co-CEO Youngkin is retiring and Leonard Green invests in TPG's Wellsky

End of an era: Glenn Youngkin, co-CEO of Carlyle Group who has been with the firm for 25 years, will retire on Sept. 30, 2020. Kewsong Lee, who was worked as co-CEO alongside Youngkin since 2018, will become sole CEO. Check it out here.

Deals: Leonard Green & Partners acquired a stake in TPG’s Wellsky, which provides software to the post-acute care industry. Leonard Green and TPG will each hold 50 percent ownership in the company, Sarah writes. Read it here on PE Hub.

Top Scoops
Vista Equity is considering the sale of government software provider Granicus after four years, writes Milana Vinn on PE Hub. Granicus provides cloud-based software tools and digital engagement services for the public sector. Read the story here.

Blackstone Group has been raising its debut growth fund targeting between $3 billion to $4 billion. The fund has collected about $900 million in an interim close. Much of the capital was sourced from wealth networks at large financial institutions. Read more here on Buyouts.

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