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.
Brookfield Asset Management Ltd is set to relocate and expand its Tokyo office, moving to the Roppongi Hills development as it doubles its footprint in Japan, according to a report by Bloomberg citing people familiar with the matter.
FTI Consulting has appointed private equity expert Speed Liu as a Senior Managing Director in Hong Kong in the Business Transformation practice in Asia within the firm’s Corporate Finance & Restructuring segment.
A team spun out of recently overhauled hedge fund Taconic Capital Advisors’ European credit platform has launched Dolomite Capital, an independent firm with $1.3bn in assets under management, according to a report by Bloomberg.
Advent International is preparing to launch the sale of Italian industrial confectionery group Irca SpA, in a transaction that could value the business at around €3bn, as lenders begin lining up financing for a potential buyout, according to a report by Bloomberg.
South Korea’s financial watchdog the Financial Supervisory Service has indicated that regulatory intervention in the country’s private equity industry is becoming unavoidable, citing concerns over market integrity and investor protection, according to a report by Reuters.
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