PE Tech Report

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Wynnchurch Capital has acquired Handgards, a distributor of foodservice products, including disposable gloves, reclosable bags, tabletop items, expendables, and other carryout products from Wind Point Partners in partnership with management.
The rapid expansion of private credit is creating a supply/demand imbalance that is again pressuring spreads and underwriting terms, according to Fitch Ratings analysts and external panelists at the rating agency’s recent private credit forum held in Chicago.
Magnesium Capital, a private investment firm focused on energy transition buyouts, has held the final close of its inaugural Fund, Magnesium Capital I, at its hard cap of €135m, exceeding the vehicle’s original €100m target.
Global equity manager ClearBridge Investments wants healthcare IT firm Model N to reconsider the planned acquisition of the business by Vista Equity Partners, according to a report by Reuters.
Prosek Partners, an independent marketing and communications agency for financial and professional services, has opened a new office in Abu Dhabi, which will be headed up by newly appointed Managing Director and Head of MENA Diana Estupinan.
Park Place Technologies has secured a roughly $2bn financing package from a group of private lenders led by Blackstone, which will be used to refinance its existing debt and provide a payout to the company’s private equity owners GTCR and Charlesbank Capital Partners, according to a report by Bloomberg.
Gen II Fund Services, an independent private capital fund administrator, has increased its AUA to more than $1tn with the acquisition of Crestbridge, a European provider of private capital fund administration services.
Apollo Global Management
Alternative asset management major Apollo Global Management has raised $35bn from Asian investors since implementing a plan to revamp its business in the region at the beginning of 2022, according to a report by Bloomberg.
Funds advised by Apax Partners are to acquire the Zellis Group, a provider of payroll and HR, and global benefits administration software solutions to customers in the UK and Ireland, from Bain Capital.
Mid-market private equity firm Bowmark Capital has agreed to realise its investment in Focus Group, a UK provider of business technology to SMEs, to software-focused private equity firm Hg.

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