Another co-founder exits Antares; Altas, former Onex exec’s shop, raises more than $2 bln; Investing in the continuum care can be win-in
Some big news this morning, Hubsters. There’s another senior exit at Antares Capital.
Dan Glickman is leaving Antares, the biggest middle market lender, at the end of the week, according to our sister publication Private Debt Investor. Glickman is a senior managing director. Two other co-founders have left in recent months. Eric Hansen, also a senior managing director, left Antares in November, while co-chief executive John Martin departed in early March, Private Debt said.
Martin’s departure left David Brackett as sole CEO of Antares.
I’ve been told that Martin’s departure had to do with questions over the power Canada Pension Plan Investment Board wields in deals. CPPIB acquired Antares from GE Capital in 2015. Antares and CPPIB could not immediately be reached for comment.
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It’s healthcare Thursday and we have another column about the sector. This timePatrick Krause, head of MHT Partners’ healthcare-services industry practice, has written about how investing in the continuum of care can be a win-win for patients and hospitals. See his story here.
Deals: There’s another payments deal this morning. Warburg Pincus is exitingPayScale after Francisco Partners acquired a majority. The deal is valued at $325 million. PayScale, of Seattle, provides compensation data, analytics and software. Check out our brief here
Warburg in 2014 agreed to invest up to $100 million to recap PayScale, Reuters has reported. Joe Giordano, a former Microsoft manager, founded PayScale in 2000.
Sarah Pringle has more info on Bain Capital’s possible sale of WayStar, the healthcare revenue-cycle-management giant, that is considering strategic options. She has the name of the adviser plus other interesting things. Read her story here.
Correction: A prior version of this newsletter said that Glickman was leaving at the end of the month. That is incorrect. He is leaving on Friday. The newsletter has been changed.
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