HPS Investment Partners, the private credit manager spun out of JPMorgan Chase & Co in 2016, has opened discussions with potential investors about an initial public offering at a valuation of over $10bn, according to a report by Bloomberg.
Goldman Sachs’ private equity investment firm, Petershill Partners, has sold an 18% stake in hedge fund LMR Partners for up to $258m in a move aimed at addressing investor concerns about the accuracy of the firm’s asset valuations, according to a report by The Times.
Mid-market private equity firm Inflexion has made two new additions to its teams with the appointments of Yuri Mikhalev as a Partner focused on technology investments and Michael Baster as a Partner focused on business services investments.
AE Industrial, a private equity firm specialising in national security, aerospace, and industrial services has sold Altus Fire & Life Safety, a provider of regulation-mandated fire and life safety services for the Northeast USA to Apax Partners.
Turnspire Capital Partners has completed the acquisition of Pharmachem Innovations, the former nutraceuticals business of Ashland Inc. Turnspire Operating Partner Maurice Murphy has been appointed Executive Chairman, and Jeff Rogers as Interim CEO.
YFM Equity Partners has backed the management buyout of Stacatruc – a forklift truck specialist with a 40-year pedigree – from private equity investor Merino Capital, which acquired the business in 2021.
Global alternative asset manager Tikehau Capital has competed the sale of its stake in Preligens, a specialist leader in artificial intelligence for aerospace and defencem to Safran for an enterprise value of €220m.
Park Square Capital, a European private credit specialist, has successfully raised €3.4bn ($3.8bn) for its latest direct-lending fund, European Loan Partners II, which will lend to private equity-owned mid-market businesses across Europe, according to a report by Bloomberg.
Cubera Private Equity has held the final close of its latest Nordic secondaries fund – Cubera X – at its hard cap of €780m, ahead of its target size of €700m. Including GP commitments the total size of the oversubscribed fund is €807m.
Pennsylvania-based lower middle market-focused private equity firm NewSpring has invested in US hotel renovation business Salisbury Moore via its private credit strategy, NewSpring Mezzanine.
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