Morning!
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.
Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
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