TCV buys majority stake in Oversight from Luminate Capital, GHO to buy out Ardian’s stake in Envision Pharma, Audax Group runs broad secondary recap on 2012 fund

GHO Capital agreed to buy out Ardian's stake in Envision Pharma Group and secondaries are poised for a busy fall.


How are things on your end?

Here’s some interesting activity:
TCV acquired a majority interest in Oversight, which provides a platform for audit and risk mitigation processes for enterprise organizations. TCV bought the stake in the business from Luminate Capital Partners, which will stick with the business with a minority stake.

Luminate is one of the new generations of firms to spring up in the past few years. Luminate was launched by ex-Silver Lake Sumeru co-founder Hollie Haynes and former CEO of Radiant Systems John Heyman. The firm has raised two funds so far. The firm closed its second fund on $425 million in 2018. Read more here on PE Hub.

Top Scoops
GHO Capital agreed to buy out Ardian’s stake in Envision Pharma Group, a tech-enabled medical affairs company, writes Sarah Pringle on PE Hub. The deal would value Envision at $750 million-plus, Sarah writes. Read more.

Secondaries is poised for a busy fall. Read our deep dive into the bubbling market here. Meanwhile, yet another deal involving a well-established GP has emerged. Audax Group is running a secondary process to move assets out of its 2012-vintage, fourth fund and into a continuation pool for more time to manage the investments. Audax is working with Evercore on the deal. Read my story here on Buyouts.

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