Management fees for private equity buyout funds have fallen to their lowest level since tracking began in 2005, as fund managers face increasing pressure to attract investors in a challenging fundraising landscape, according to a report by the Financial Times.
Private equity firm Sixth Street Partners has agreed to invest $500m in Merchant Investment Management, as part of a $750m capital raise for the New York-based RIA minority investor, according to a report by CityWire.
Venture Capital firm Forgepoint has launched a new London hub – with a dedicated on-the-ground team – as part of its plan to scale-up investment across Europe, focusing on early-stage and select growth stage start-ups in cybersecurity, AI, and infrastructure software.
French investment firm Wendel is to acquire a 75% stake in US asset management company Monroe Capital (MRCC.O) for $1.13bn in a move aimed at strengthening the firm’s presence in the growing private credit market, and boosting its asset management business, according to a report by Reuters.
Texas Permanent School Fund (Texas PSF) has made an anchor investment of $200m in private equity firm Velocity Capital Management’s Opportunity Fund, with an agreement to negotiate acquiring a minority interest in the firm targeted to close in the fourth quarter.
Private equity firm Altor has agreed to sell Swedish investment bank and asset manager Carnegie to Norway’s largest bank, DNB, for approximately SEK12bn ($1.14bn), with the deal expected to close in the first half of next year, according to a report by Reuters.
Banks and private credit firms are vying to provide over $5bn in debt financing to support a potential buyout of eye care company and Ray-Ban owner Bausch + Lomb, by Blackstone and TPG, according to a report by Bloomberg.
US private equity firm Clayton Dubilier & Rice (CD&R) has reached agreement on the terms to acquire a controlling 51% stake in Sanofi’s consumer health division Opella, according to a report by Reuters citing sources within the French government.
The second quarter of 2024 saw a mixed environment for mergers and acquisitions (M&), with transaction volumes levelling off compared to earlier in the year, according to the US Private Equity Mid-Market Monitor: H2 2024 & Outlook report from investment bank DC Advisory.
BGF has exited its investment in DriveWorks, a provider of design automation and 3D sales product configuration software to manufacturing and engineering companies, generating a money multiple of 2.7x and an IRR of 32%.
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