Happy Wednesday!
Pretty exciting Super Tuesday evening, with Biden v Sanders emerging as the main rivals for the Democratic nomination. From a PE/VC perspective, who do you like and who is best for business? Hit me up at cwitkowsky@buyoutsinsider.com.
One thing to come out of last night was that Sen. Elizabeth Warren appears to be finished. That’s probably good news for a lot of private equity folks because if she’s out, her comprehensive overhaul of private equity (Check it out here) will be put back in the bottom drawer (not that it ever had much of a chance of making it through Congress unscathed).
Deal: GI Partners is evaluating the sale of Logibec, one of Canada’s largest healthcare IT providers, writes Sarah Pringle on PE Hub. Logibec is led by CEO Marc Brunet. The company offers technology services including patient management, human capital management, financial and material management, as well as intelligence and analysis.
Logibec in October acquired Knowledge4You Corp, which provides software for Canadian hospitals and universities to manage medical and nursiong educational programs. Read the story here on PE Hub.
New firm alert: Vertica Capital Partners closed its debut fund on $205 million to invest in growth software businesses. Vertica raised capital from software entrepreneurs, endowments, foundations, family offices, pensions and funds-of-funds. Read the news here on PE Hub.
Vertica was formed by Vitaly Vorobeychik and Philip Vorobeychik. Vitaly previously ran software investing at Meritage Group and Philip formerly served on the boards of Kaseya, Thycotic, Tricentis, N2W, Spanning, Cloud Apps, Resolve Systems, QASymphony, LiveAction, FireMon, CloudBolt, CoreView and Devo.
Vertica hired Stephen Hoey as chief financial officer. Hoey most recently worked as a partner and chief financial officer of KPS Capital Partners. Before, Hoey worked for various firms including General Atlantic, Soros Private Equity and Stonington Partners.
Top Scoops
Silver Lake is targeting $4 billion for the next installment of its credit and structured equity fund called Alpine, I write over on Buyouts. Alpine invests in large-cap technology, tech-enabled and related growth companies. The funds focus largely on downside-protected portion of a company’s capital structure, but also will invest with equity components like convertible securities, options, warrants and preferred stock, according to Silver Lake’s Form ADV. Check out my story here.
Silver Lake is a fundraising machine this year. It’s gearing up to bring its sixth flagship fund to market, probably by the second quarter. Fund VI could raise up to $20 billion, I previously wrote here. And the firm is targeting $750 million for its third pre-IPO fund called Waterman. Check it out here.
Nautic Partners acquired Harrington Industrial Plastics, which provides parts like valves, filters, pumps and tanks for industrial fluids and high purity applications. The firm completed the deal alongside Harrington management. Read it here on PE Hub.
Have a great day! Reach me with tips n’ feedback, gossip, drama or whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
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