Latest News
US private equity firm TPG is to acquire GE Vernova’s Proficy industrial software business in a $600m deal, with GE Vernova planning to use proceeds to strengthen its grid software operations, according to a report by Reuters.
Blackstone is in advanced talks to provide more than $800m in private credit financing to Justrite Safety Group, after the Audax Private Equity-owned company abandoned a leveraged loan sale, according to a report by Bloomberg citing unnamed people familiar with the matter.
London-listed financial services firm JTC Plc has entered into discussions with rival private equity groups Warburg Pincus and Permira, after turning down a series of earlier buyout approaches from both firms, according to a report by Reuters.
Los Angeles-based Aurora Capital Partners has closed its seventh middle-market private equity fund, Aurora Equity Partners VII, with $2.1bn in total capital commitments, its largest fund to date, exceeding its initial fundraising target.
Legence, a San Jose-based engineering and maintenance services provider backed by Blackstone, has raised $728m in its US initial public offering, pricing 26 million shares at $28 each, according to a report by Reuters.
Lenders have begun pre-marketing a £1.8bn debt package to finance KKR’s £4.2bn acquisition of Spectris, the UK-listed precision testing equipment and software manufacturer, according to a report by Bloomberg.
British Columbia Investment Management Corporation, one of Canada’s largest institutional investors, has appointed Nikhil Hanmantgad as Managing Director in its Private Equity arm, strengthening the firm’s global healthcare investment team.
Warburg Pincus’ acquisition of data centre services provider Park Place Technologies has been backed by a $3.6bn private credit package led by Blackstone and Ares Management, underscoring the growing role of direct lenders in large-cap private equity deals, according to a report by Bloomberg.
Carlyle Group is preparing to raise more than $4bn for a new portfolio finance vehicle through its AlpInvest unit, giving LPs and GPs fresh options to unlock liquidity from illiquid private equity stakes, according to a report by Bloomberg.
Starbucks is moving into the final stages of its planned sale of a stake in its China business, with major private equity firms including Carlyle Group and EQT among those preparing final bids, according to a report by Reuters.
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