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Bain Capital to acquire Envestnet in $4.5bn deal

TOP STORY: Bain Capital, a US private investment firm with around $185bn of AUM, is to acquire wealth management software company Envestnet in a deal valued at $4.5bn, according to a report by the Wall Street Journal.

South Korea’s Hahn & Co raises $3.4bn for new buyout fund

Hahn & Co, a South Korean private equity firm founded by former Morgan Stanley banker Scott Sang-Won Hahn, has raised $3.4bn for a new buyout fund, making it the largest single-country focused vehicle in Asia this year, according to a report by Bloomberg.

Growth curve

GP-led deal activity to drive further secondaries market growth

As liquidity constraints put pressure on the private equity industry, the secondaries market is expected to grow substantially over the next twelve months, with fundraising and deal flow set to expand, according to Investec’s latest Secondaries Report, Charting a Course for Further Growth.

MIM closes $1.2bn Private Equity Partners Fund II

MetLife Investment Management, the institutional asset management business of MetLife, has formed a new $1.2bn private equity fund of funds, significantly boosting the amount of private capital the insurer manages for outside investors.

PE target Paramount Global to merge with Skydance Media

Paramount, owner of Paramount Pictures movie and television studios, the CBS television network and CBS News, as well as a takeover target of private equity firm Apollo Global, is to merge with Skydance Media, according to a report by CBS News.

B&B Hotels attracts PE bids of over €3bn

Two major private equity firms, KKR and CVC, have submitted bids exceeding €3bn for B&B Hotels, a French budget hotel chain that was founded in Brest, Brittany in 1990, and has since expanded to 17 European countries, according to a report by the Times.

Blackstone ups single risk transfer investments

Blackstone Group, the world’s largest buyout firm, has emerged as a major player in the acquisition of bank loans critical to the private equity industry, despite exposing itself to risks generated by its own operations in the process, according to a report by the Financial Times.

New Mountain closes Fund VII at $15.4bn

New York-headquartered alternative investment firm New Mountain Capital has held the final close of its seventh control-oriented fund, New Mountain Partners VII, with $15.4bn in capital commitments.

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