TA invests in Nactarome, CenterGate exits TSC Apparel

Carlyle makes significant exits and TA backs Nactarome.

Morning!

Hope your week is winding down. Just a reminder we’ll be off for the rest of the week, and back at it on Monday.

More growth: Carlyle Group sees significant tailwinds in next-gen IT services and expects to remain active in the space after selling a majority stake in global CX design engineering company PK, writes Aaron Weitzman on PE Hub.

After investing $330 million in the company five years ago, the firm sold its 70 percent stake in PK to Concentrix Corp in a deal valued at roughly $1.6 billion. Key to PK’s future growth was the hiring last year of CEO Dinesh Venugopal, Aaron wrote.

Carlyle also supplemented PK’s organic growth with six strategic acquisitions including Lenati, a customer experience consultancy, which bolstered the company’s “tip of the spear” strategy and design capabilities, according to the firm.

Read the story here on PE Hub.

Saga: Here I thought the saga of Novalpina, one of the rare private equity breakups, was winding down after LPs replaced the GP with Berkeley Research Group.

Novalpina’s debut fund, which closed on €1 billion back in 2019, has three investments, including controversial spyware maker NSO Group. Apple said yesterday it filed a lawsuit against NSO for its technology that has allegedly been used to surveille and target Apple users, according to a statement.

Apple said it’s seeking to bar NSO from using Apple software, services or devices to prevent “further abuse and harm to its users,” the statement said. “Defendants are notorious hackers — amoral 21st century mercenaries who have created highly sophisticated cyber-surveillance machinery that invites routine and flagrant abuse,” the lawsuit said.

NSO has been accused of supplying its clients, including repressive regimes, with its spyware technology called Pegasus that has been used by its clients to spy on activists, journalists and politicians. NSO claims its technology is sold only to law enforcement and intelligence agencies of “vetted” governments for prevention of crime and terrorism.

Ongoing controversy with NSO can’t be great news for LPs in Novalpina’s debut fund, who are working with BRG to manage out the fund’s three investments. They are trying to maximize the value of the assets to make sure the fund is a strong performer, despite all the drama.

That’s it for me! Have a great Thanksgiving holiday. Hit me up with your tips n’ gossip, details of deals and funds and people moves or whatever at cwitkowsky@buyoutsinsider.com or over on LinkedIn.