Thoma Bravo runs ambitious fundraising program, TPG makes strategic investment in medical comms business BGB Group

Thoma Bravo targets more than $28 billion across three funds and Alpine Investors-backed TEAM Services Group acquires 24 Hour Home Care.

Happy Friday!

Hope your week went well! Are you worried about inflation? How is it impacting your investing decisions and your existing portfolio? For the LPs, how are inflation concerns creeping into your plans? Let me know at cwitkowsky@buyoutsinsider.com.

Big one: Thoma Bravo is engaging in one of the most ambitious fundraising programs this year, targeting more than $28 billion across three funds to target from the largest to smallest sides of the tech market. The targets for Thoma Bravo’s three funds are set, though they don’t yet have hard caps, so that total could go higher. Check it out here on Buyouts.

Comms: TPG made a strategic investment in medical communications business BGB Group amid a surge in demand as biopharma and pharma companies deploy large amounts of capital to develop new therapies and successfully reach their target audience, writes Sarah Pringle on PE Hub today.

BGB works with medical marketing, strategic consulting, digital strategy and execution and promotional advertising. TPG invested in BGB through both its growth fund and its healthcare partners platform.

TPG joins a growing list of private equity firms investing behind companies providing an array of outsourced communications-related services to the life sciences industry – be it marketing and digital transformation strategies, commercialization and market access services, data analytics or strategic consulting. Read more here on PE Hub.

Extend: Alpine Investors-backed TEAM Services Group, which was the subject of a continuation fund process last year, added-on 24 Hour Home Care, which provides non-medical home care to seniors and people with intellectual and developmental disabilities.
The deal will allow 24 Hour Home Care’s plans to expand across the country. It will continue operating under its brand name within TEAM Public Choices, a division of TEAM that works with clients through Medicaid and other state-sponsored disability programs.
24 Hour Home Care’s founders David Allerby and Ryan Iwamoto will continue in their respective roles as CEO and president, working alongside TEAM Services CEO Josh Greenberg.

Alpine closed its process for TEAM Services in January, moving it from its Fund V and SBIC V pools. The single-asset process was led by HarbourVest Partners, Neuberger Berman, Pantheon and Hamilton Lane, along with a collection of new and existing Fund V LPs.

The total value of the deal was about $362 million. Lazard worked as secondary adviser on the process. Read more here.

That’s it for me! Have a great weekend. Reach me with thoughts and feedback, tips n’ gossip, The Drama or whatever at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.