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The Carlyle Group has emerged as a potential new bidder for Manchester United, as the ongoing sale of the English Premier League club goes to a third round, with rival bids from former Qatar prime minister Sheikh Jassim bin Hamad al-Thani and Ineos owner Sir Jim Ratcliffe, and interest from US activist hedge fund Elliott Management, still in the frame.
According to a report by the BBC, Carlyle’s pitch would involve purchasing a stake in the club rather than merely providing financing.
The process to explore “strategic alternatives” for the club began in November, when the Glazer family, who bought the
Having a long-term perspective and remaining invested even in challenging times is critical to success in private equity, especially in the secondaries market. Bertrand Chevalier, Senior Managing Director Secondaries and Primaries, Ardian, discusses the key factors to consider when investing in this growing sector.
Luxembourg-based global venture capital firm Runa Capita has opened a Paris office. Max Corbani, who recently joined Runa Capital as a Senior Associate, will lead the growth of its investment focus in the French startup ecosystem.
Pacific Avenue Capital Partners, a Los Angeles-based private investment firm, has formed Resin Solutions, which has agreed a carve-out of three product lines developed by Cray Valley, TotalEnergies’ resin production affiliate.
Pacific Avenue Capital specialises in M&A, corporate divestitures and other complex situations in mid-market companies. The investment is being deployed via Pacific Avenue Fund I, L.P.
The carve-out deal, which covers includes four production sites in the US, one production site in Italy, and global customer relationships across diversified end markets.
The three acquired product lines – PolyBD®, Wingtack®, and Dymalink® – are market leaders in functional additives. Specifically,
Venture capital executives are more cautiously optimistic on their fundraising prospects for this year, in contrast with a comparatively downbeat outlook among private equity peers, according to S&P Global Market Intelligence’s new 2023 Private Equity Outlook Survey.
The report surveyed a total of 511 private equity, venture capital and limited partner respondents between December 2022 and mid-January 2023.
According to the outlook, 45% of private equity executives surveyed expect fundraising conditions in their location to deteriorate this year, while 34% said conditions will remain the same.
Venture capital professionals were split, with 35% forecasting a deteriorating fundraising environment and a
Paris-based private equity firm Andera Partners is leading a $48.5 million financing round for medical device company BioVentrix in an investor syndicate that includes Cormorant Asset Management, Taglich Brothers Inc., Squarepoint Capital, and Richmond Brothers.
BioVentrix is developing minimally invasive therapies to directly treat the dilated left ventricle and reverse the left ventricular remodeling process in patients with congestive heart failure.
In conjunction with the Series A funding, BioVentrix appointed Raphael Wisniewski of Andera Partners and Bihua Chen of Cormorant Asset Management to its Board of Directors.
The financing will support the completion of BioVentrix’ Premarket Approval (PMA) submission for
A private equity consortium including CVC Capital Partners and Francisco Partners has made a “preliminary and conditional” bid for emerging markets-focused payments company Network International, according to a report by Private Equity News.
Shares in Network International closed up 23.1%, or 56½p, at 300p, valuing the company at £1.6 billion, still below its float price of four years ago.
In a statement, the Dubai-based FTSE 250 payment-processing company, the largest in the Middle East and Africa, confirmed that discussions between Network and the consortium are ongoing.
The news emerged amid a flurry of private equity-backed overseas takeover bids for mid-cap
Swedish private equity firm EQT is in talks with Dechra Pharmaceuticals over a possible £4.6 billion cash bid, in a deal backed by the Abu Dhabi Investment Authority, according to a report by The Times. A takeover of Dechra, the FTSE 250 veterinary drugs company, would cap a rollercoaster period for the group, which was briefly promoted to the FTSE 100 after its shares soared on a pandemic-driven pets boom but which have halved since a peak two years ago.
Dechra is led by Ian Page, who has been chief executive since soon after the Cheshire-based company was listed in 2000.
PARTNER CONTENT
Now is the time for private equity managers to invest in new systems. Managers can take advantage of the slower pace of transaction to set a software transition in motion. Ryan Keough, chief revenue officer at Allvue Systems, outlines the benefits of such a shift.
Can you outline the industry trends which have been driving growth and development within your firm over the past year?
Advancing private equity regulation has been contributing to the growth of our firm in the last few years. When more regulation is in place, access to data becomes more important than ever,
Clearlake Capital Group and Symphony Technology Group have agreed to sell risk management cloud software provider Archer Technologies to Cinven.
The deal is expected to close in the middle of 2023 subject to customary closing conditions and regulatory approvals. The terms of the transaction were not disclosed.
Founded in 2000 and headquartered in Overland Park, Kansas, Archer is a leading provider of integrated risk management cloud software solutions with products that encompass compliance, governance, security, audit and ESG.
STG acquired Archer in 2020 as a part of its purchase of RSA Security from Dell Technologies, and subsequently partnered with Clearlake in
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