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NEWSLETTER | 20 Nov 2020  
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Caffè Nero latest in a string of coffee chains to restructure


Pfizer announced that its vaccine was found to be 95 per cent effective in the final analysis of a late-stage trial. The company said it planned to seek FDA authorisation "within days". Moderna also came out with some positive news, showing its vaccine was 94.5 per cent effective.

PEWire featured an article by David Genn, chief executive officer at Goji, this week, where he explores the notion that private capital managers look to individual investors as the next frontier for asset growth, technology may finally provide a path.

Sub-Sahara African-based Pacer Ventures announced their launch of a USD3 million fund for early-stage startups, with a focus on healthcare, financial inclusion, education and agriculture on the African continent.

Meanwhile, Eight Roads Ventures and London-based VC firm Balderton Capital, with participation from existing investors including San Francisco-based Founders Fund, led a Series B equity round into digital electricity supplier Tibber. 

Tibber also secured working capital funding by Nordea alongside equity, in order to support its growth – with this, Tibber has closed a total of USD65 million in new capital.

The US elections are one of the few elections that have a global impact. The recent presidential race, culminating in Joe Biden becoming the 46th President of the United States, has been a very closely run race. The lead up to the election, and the results of it, have had and will continue to have an impact on the global private equity industry. 

Hasib Howlader, director at the London accountants Howlader & Co, penned down some considerations on how the Biden victory, a win for the Democrat party, will affect private equity in the long run.

In other news this week, CVC Capital Partners and Advent are looking to add a “breakaway” clause to their EUR1.6 billion deal to buy into Italy’s Lega Serie A football competition to protect their investment if a rival European super league is launched with the help of a debt financing package from JP Morgan.

PAI Partners completed three deals in the food sector, acquiring Addo Food Group, Winterbotham Darby & Co and Angulas Aguinaga this week.

KKR agreed to acquire Italian manufacturer of automated packaging solutions CMC Machinery, while CalPERS committed a total of USD8.45 billion to alternative investments, including USD 2 billion to West Street Strategic Solutions Fund I, and USD 1.5 billion to LongRange Capital. 

This week it also emerged that EQT is considering a takeover of Royal KPN, a Dutch phone company with the largest fibre-optic network footprint in the Netherlands.

Private equity-backed Caffè Nero became the latest in a string of coffee chains to restructure its business following effects of the pandemic. The chain entered a CVA in order to restructure its business. 

Karin Wasteson
Editor, Private Equity Wire

 



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