PE HUB Wire Highlights, 11.20.18

Japan institution brings supersecret $1 bln-plus PE portfolio to market; Thomas H. Lee puts CSafe Global up for sale; Littlejohn Fund VI raises $2.84 bln

We have a couple of days left until Thanksgiving and things have definitely slowed.

What is everyone cooking this Turkey Day? A few years ago, the trend of frying turkeys was very popular. I’m told such meals are delicious but dangerous to prepare. Do people still fry turkeys? If so, how do you avoid not burning down your house?

This year may go on the record books as the year for tech buyouts, according to Preqin. There were 1,079 buyout-backed tech-focused global announced deals as of November, worth a total of $71 billion, the research firm said. This is near the 1,096 record set for all of 2018.

Now the $71 billion is nowhere near the $177 billion hit in 2015, which is considered the peak. Much of that was driven by the $67 billion merger of Delland EMC, Preqin said.

Tech-focused buyout shops now hold more than half a trillion dollars in assets under management at the end of March 2018, Preqin said. Fund managers focused on tech currently hold a record $190 billion in dry powder.

For more, read VCJ’s Mark Boslet’s story about the surge in tech deals here.

No bridezillas, hopefully: It’s official. David’s Bridal has filed for Chapter 11 bankruptcy. The retailer vowed that it will be “business as usual” and brides’ orders and appointments won’t be affected by the filing, the Wall Street Journalsaid. David’s Bridal is trying to shed more than $400 million in debt and plans to emerge from bankruptcy in January, the New York Times said. Read our brief here.


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