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GTCR, a veteran financial technology investor, has won the auction for the North American payment business of U.K. software company Sage Group Plc. The Chicago buyout shop agreed to pay $260 million for all of Sage Payment Solutions. The deal is expected to close in Q3. The deal calls for $240 million cash and $20 million of […]

The continued transition toward value-based care bodes well for Remedy Partners, the VC-backed company currently exploring a sale, four people familiar with the matter said. The Bain Capital Ventures-backed “episodes of care” company has turned to JPMorgan Securities for financial advice, said three of the sources. The Darien, Connecticut, company could be either a sponsor […]

LPs not happy with Fenway Partners restructuring proposal Option to sell at steep discounts Most restructurings come with status-quo option Limited partners in two Fenway Partners funds are pushing back against a restructuring plan that does not give existing investors the option to remain on the same terms as they had, three sources told Buyouts. […]

Hartley Rogers, chairman of Hamilton Lane, talks about IPO How data is changing private equity The future of PE is ‘bigger, faster, cheaper’ Hartley Rogers is chairman and a member of the investment committee at Hamilton Lane. Why did you go public? Why now? We value our culture, client relationships and the services we’re able to […]

Firm: Aurora Capital Group Fund: Aurora Equity Partners V Target: $800 mln; $1 bln hard cap Amount Raised: $1.2 bln Placement Agent: Park Hill Group Legal Adviser: Kirkland & Ellis Aurora Capital Group raised the largest fund in its history, closing Aurora Equity Partners V on $1.2 billion, beating its $800 million target, sources confirmed […]

Health Evolution Partners, the healthcare fund run by a former George W. Bush administration official, is looking to exit its investment in CenseoHealth, three sources told Buyouts. Goldman Sachs is serving as financial adviser to the provider of in-home physician-conducted health assessments, the sources said. The Dallas company generates EBITDA in the ballpark of $40 million, […]

Gatewood beats $150 mln target Plans to provide anchor commitments to new GPs Has made nine investments so far Finding the next generation of superstar managers is an important effort in private equity these days. Gatewood Capital Partners, formed in 2014, has just closed its debut fund to help launch new GPs. The firm closed […]

Antares Capital confirmed Monday that Lone Star Funds has pulled out of its joint venture that provides unitranche loans for middle-market companies. Lone Star Funds has “decided to cease making new unitranche loan commitments through the Middle Market Growth Program,” wrote Carol Ann Wharton, an Antares spokeswoman, in an emailed response to questions. Antares and […]

73 pct of portfolio-company CEOs likely replaced during fund’s investment life cycle 78 pct said “pace of change” was biggest conflict between PE firms and CEOs A third of PE firms think CEOs should be available around the clock Private equity firms aren’t afraid to oust portfolio company CEOs who aren’t up to muster. In fact, […]

FirePower Capital has completed the debut transactions of its new lending operation, backing a big-data SaaS company and a realty brokerage software platform. FirePower, a Toronto investment bank, launched its private capital division in late 2016. The unit oversees Gap Debt fund, earmarked for mezzanine financings of lower-mid-market companies. The fund was capitalized with an initial $100 million-plus by FirePower principals, high-net-worth investors and an unidentified U.S. strategic partner.