San Francisco-based venture secondaries firm Pinegrove Opportunity Partners has closed its debut fund at $2.2bn, marking a major milestone in the fast-growing niche of the venture capital market, according to a report by Bloomberg.
PGIM has expanded into private credit secondaries, with plans to deploy up to $1bn over the next two years into the emerging asset class. The new platform targets a market where deal volume is expected to exceed $50bn within the next two to three years.
Buyout firm Hg is in discussions with private credit lenders over a loan of around $3bn to help finance its agreed acquisition of OneStream, according to a report by Bloomberg citing people familiar with the matter.
FountainVest Partners Chief Executive Frank Tang has urged European companies to look to Asia to sustain growth, as economic and structural pressures intensify across Europe, according to a report by Bloomberg.
Crescent Capital Group has raised $3.2bn for a continuation vehicle, marking the largest fundraise to date for a strategy focused on private credit secondaries, according to a report by Bloomberg. The fund will allow the manager to hold selected credit assets for longer amid a slower dealmaking environment.
California Public Employees’ Retirement System has increased its exposure to venture capital and growth equity as part of a broader overhaul of its private equity portfolio, shifting capital away from large buyout funds in favour of strategies with lower fees or higher return potential, according to a report by Bloomberg.
Blackstone has led a $100m minority investment in marketing technology company Applecart, valuing the business at around $700m, according to a report by Bloomberg citing a person familiar with the transaction.
Private equity giant Thoma Bravo is preparing to capitalise on the recent drop in software stock valuations, describing the sell-off as a “huge buying opportunity,” according to a report by the Financial Times citing co-founder Orlando Bravo.
Struggling US low-cost carrier Spirit Airlines is in discussions with alternative investment firm Castlelake over a potential takeover as it seeks a path out of bankruptcy, according to a report by CNBC.
TCV and Blackstone have led a €175m ($204m) funding round in French accounting software provider Pennylane, valuing the company at around $4.25bn, according to a report by Bloomberg.
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