Opinion

Welsh, Carson, Anderson & Stowe taps Goldman, Credit Suisse to explore options for Clearwater Analytics, Alcentra recruits ex-Bain Capital Credit exec as CEO, Private equity bets on powerful Democrat in key role on carried interest tax

WCAS is mulling options for Clearwater Analytics and Alcentra hires former Bain Capital Credit executive Jonathan DeSimone as CEO.

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Happy Friday!

Welsh, Carson, Anderson & Stowe is exploring options for Clearwater Analytics, a SaaS provider of automated investment accounting, performance, compliance and risk reporting analytics, writes Milana Vinn today on PE Hub.

Welsh Carson could run a capital raise through a recap that brings on new investors or an IPO, Milana wrote.

The process for the fintech company has attracted a lot of interest … figure in the downturn much M&A activity was put on hold, save for highly sough-after tech and healthcare businesses, which have continued to transact, and at what sources described at rich pricing.
It will be interesting to see where this one goes. Read Milana’s story here on PE Hub.

Top Scoops
Alcentra, a private debt manager with more than $40 billion of AUM that is part of BNY Mellon Investment Management, hired former Bain Capital Credit executive Jonathan DeSimone as chief executive officer. DeSimone has a 17-year career with Bain Capital Credit, where he was most recently portfolio manager of the liquid credit strategy.

DeSimone replaces David Forbes-Nixon, who will continue as interim CEO of Alcentra until DeSimone’s appointment is approved by the Financial Conduct Authority. Read more here on PE Hub.

One of private equity’s favorite candidates in this year’s congressional elections, Richard Neal, held off a progressive challenger to retain his seat and powerful position as chairman of the House Ways and Means Committee.

Neal’s perch running the committee gives him influence over tax policy, which for private equity means the tax treatment of carried interest. The industry has long struggled to hold off efforts, mostly by Democrats but supported even by President Donald Trump, to tax carried interest at the higher ordinary income rate, rather than as capital gains. Read more on Buyouts.

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