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Rakiza, an infrastructure fund investing in the Sultanate of Oman and the Kingdom of Saudi Arabia, which is co-managed by Oman Infrastructure Investment Management and Equitix, has reached the target for its first vehicle with over $1 billion in capital commitments.
Great Hill Partners, a private equity firm that targets investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors, has opened a London office to support its investment activity in the UK and Europe.
The London office will serve as Great Hill’s regional hub for the UK and Europe, providing the firm with a dedicated local presence, greater access to investment opportunities, and resources for portfolio companies. Longtime Great Hill Managing Director Drew Loucks will lead the new office and grow the London team.
Great Hill has added
Muzinich Private Debt has provided debt financing to real-time financial data provider Market News International (MNI) in a sponsored transaction with private equity firm Tenzing, providing MNI with additional firepower to support future investments and bolt on acquisitions.
International Venture Capital investment firm Runa Capital has made two additions to its team with the appointments of Stu Libby as a venture partner and Max Corbani as a senior associate.
As a serial startup founder, Libby was the CEO of Zipdrug, where Runa Capital was the company’s largest investor. Zipdrug was acquired by Anthem in 2020, and after the successful exit, Libby became an investor in Runa. Before Zipdrug, Libby was co-founder and chief revenue officer of Circulate (FKA Solve Media), which was acquired by LiveRamp in 2016. He previously worked for DoubleClick and Google.
Before joining Runa, Corbani
Keensight Capital, a private equity manager dedicated to pan-European growth buyout investments, has appointed Cindy Giraud as communications director. In her new role at Keensight, Giraud will manage and develop the firm’s global communications.
She will oversee both internal and external communications, including public relations, press relations, and digital communications.
Keensights says Giraud’s appointment will support the firm’s growth as a partner for fast-growing and profitable companies across technology and healthcare.
Private equity firm Permira is in competition with French beauty companies L’Oreal and Clarins over the acquisition of a stake in high-end cosmetics brand Aesop from Brazil’s Natura & Co, according to a report by Reuters.
Private equity firm EQT has entered into talks over a deal to acquire UK-based data centre operator Global Switch, which is controlled by Chinese steelmaker Jiangsu Shagang group, according to a report by Reuters, citing unnamed sources.
The sales process for Global Switch first for underway in mid-2022, but according to Reuters’ sources, a discrepancy over valuation between potential acquirers and the company’s shareholders have prevented progress being made.
Global Switch had expected a sale to value it at around $10 billion but final bidders, which included PAG and KKR as well as EQT, had valued the company at around
DCP Capital, a China-based private equity firm, is looking to sell Singapore-based portfolio company MFS Technology, a manufacturer of flexible printed circuit boards, for at least $550 million, according to a report by Reuters.
Unnamed Reuters sources say that marketing for the sale targeting both financial sponsors and strategic buyers began on Friday, and the firm, which was founded by former KKR & Co dealmakers David Liu and Julian Wolhardt, is planning to issue confidential information memoranda next month.
BDA Partners and Jefferies are advising DCP on the sale, according to Reuters sources with initial bids for the business expected
Deerpath Capital Management attracted more than than $2.8 billion in capital commitments for its sixth private credit fund, according to a report by Reuters. The fund will finance healthcare, IT and business services companies with enterprise values between $50 million and $150 million.
Fundraising for the fund began in September 2021 with final close being held on 1 February. Backers include asset managers, private insurance companies and both public and private pension funds from around the world.
Deerpath’s previous fund, which closed in 2021, raised more than $2 billion in 2021, according to a company spokesperson, who also confirmed that
Tiger Global Management slashed the value of its investments in venture funds by about 33% last year, which equates to around $23 billion, according to a report by Bloomberg citing an unnamed source.
Around $9 billion of that markdown by the firm’s venture unit, which is led by Scott Shleifer, came in the second half of 2022, according to the source.
Tiger Global, which also manages hedge and long-only funds, marked down the value of its private funds by almost a quarter in November last year according to an earlier Bloomberg report, while the firm’s hedge and long-only funds lost
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