PE HUB Wire Highlights, 9.4.18

Gallatin Point, led by ex-BlackRock, U.S. Treasury execs, raises $94 mln; Gryphon invests in Transportation Insight; Bregal, KKR to exit Cognita

Welcome back from the Labor Day holiday! As we journey back to reality, I must say I was surprised that Roger Federer was ousted from the U.S. Open last night. But the heat here in NYC is stifling. I don’t think that new roof at Arthur Ashe Stadium helps keep things cool.

It’s still quite slow news-wise. There’s an interesting story in Private Equity Wire, which, citing data from the FCA, is reporting that women make up just 14 percent of partners at U.K. PE firms, hedge funds and other financial services partnerships. The 14 percent is up just a percentage point from five years, the story said.

Still, women are apparently doing better across the pond than females in senior PE roles here. Women make up 17.9 percent of private equity but are only 9 percent of PE senior levels, Buyouts reported in September 2017. Most of them can be found in investor relations and marketing, Preqin said.

Why such slow gains? Private Equity Wire pointed out that many PE and hedge funds are pretty small and may be less likely to have an HR function that can do a full search across the market to generate a diverse slate of candidates. Smaller organizations are also more likely to recruit from their own contacts.

Deals: Gryphon Investors has acquired a majority of Transportation Insight LLCSee our brief here.

Vista Outdoor said this morning that it completed the sale of its eyewear brands BolléCébé and Serengeti. It’s unclear who bought it. In July, Vista Outdoor said it reached a deal to sell the eyewear brands to a “significant” European PE fund. Anyone know who that is? Email me at lbeltran@buyoutsinsider.com

Bregal Investments and KKR have agreed to sell Cognita to Jacobs Holding. Cognita operates more than 70 schools across 8 countries.

I also have a story about Sirius International, the Bermuda insurer that is merging with a SPAC. Gallatin Point CapitalCarlyle GroupCenterbridge Partners and Bain Capital Credit are backstopping the deal. Find out more here.

CONTINUE READING

SUBSCRIBE to get the Wire in your inbox every morning. It’s free.