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Ardian has entered into an agreement to acquire a 15% stake in FGP TopCo, the holding company of Heathrow Airport Holdings Ltd, from Ferrovial S.A. Under the terms of the agreement, infrastructure funds managed and advised by Ardian will acquire 15% while Saudi Arabia’s Public Investment Fund will acquire 10% of TopCo concurrently from Ferrovial through separate vehicles
According to the annual KPMG Private Debt fund survey commissioned by the Association of Luxembourg Fund Industry (ALFI), the country’s private debt market expanded by 51% in 2023, with Assets under management rising to €404.4bn, compounding last year’s AuM growth of 45.4%.
Star Mountain Capital, LLC (Star Mountain), a private credit and secondaries specialist investment firm with approximately $3.75bn in assets under management, has closed its Value-Added Direct Lending Fund IV above its $750m LP capital target at approximately $1.2bn.
Blackstone is set to acquire Rover Group, Inc, the world’s largest online marketplace for pet care, in an all-cash transaction valued at approximately $2.3bn.
Pictet Alternative Advisors, the alternative investment business of Pictet Group, has announced its first investment through its new direct private equity team, acquiring a controlling interest in facilities manager Pareto FM.
ECI Partners, a growth-focused mid-market private equity firm, has invested in ISMS.online, a SaaS Information Security Management System. The deal provides a full realisation for Cow Corner, an investor focussed on UK services and software businesses, following a successful four-year investment partnership.
Paul, Weiss, Rifkind, Wharton & Garrison LLP has announced that John Patten, a specialist in intellectual property and technology transactions, will be joining the firm in the Corporate Department, resident in London.
Norway’s sovereign wealth fund, valued as the world’s largest at $1.5tn is likely to invest in private equity as an asset class, according to a report by the Business Times. The fund invests Norway’s surplus oil and gas revenue abroad, and is the world’s biggest single stock market investor, owning some 1.5% of all globally listed shares, with stakes in more than 9,200 companies.
KKR has seen better returns on private credit deals in Asia, compared to the US and European market, according to a report by Bloomberg.
Latham & Watkins has made a double partner hire, with Fergus Wheeler and Paul Yin joining the London office within the Banking Practice. Wheeler and Yin have substantial experience advising international private credit funds and direct lenders, commercial and investment banks, private equity sponsors, and corporate borrowers on a variety of complex UK, European, and global cross-border debt financing matters, with a particular focus on private credit transactions.
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