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Brookfield Asset Management has closed its Brookfield Global Transition Fund (BGTF) with $15 billion in capital commitments, making it one of the largest funds raised with a focus on facilitating the global transition to a net-zero carbon economy.
The $15 billion includes investments from institutional investors in and alongside the fund, as well as amounts reserved for the private wealth channel.
Highlighting strong industry support for decarbonisation, demand for the fund significantly exceeded its initial hard cap, and the final fund size was oversubscribed. A diverse group of more than 100 investors from around the world committed to the Fund,
Private equity investments helped the Pennsylvania State Employees’ Retirement System (Pen SERS) investment portfolio produce a return of approximately 17.2% in 2021, raising its total asset value to $40.2 billion in the process, according to a report by chief investment officer.
Although just short of the pensions fund’s benchmark return of 17.5%, the performance more than doubled the its assumed rate of return.
Private equity was the top performing asset class for the year with a return of 52.8%. Penn SERS’ PE investments have now returned 20.1% and 15% respectively over the past five and 10 years on an annualised basis.
Venture capital firm Accel’s new global late-stage “leaders” fund, has closed with $4 billion in capital commitments, according to a report by Deal Street Asia.
Housecall Pro, a software platform trusted by over 25,000 home service companies, has raised $125 million in additional funding from Permira Growth Opportunities and Vista Credit Partners.
Over the past nine years, Housecall Pro’s all-in-one platform has been empowering home service professionals to save time, grow profitably, and provide best-in-class service to their customers. The $125 million will allow Housecall Pro to continue pursuing its vision to provide the complete business and financial operations solution for small and midsize home services businesses.
Alex Melamud, Principal at Permira, has joined the board ay Housecall Pro as part of the transaction.
Vestack, a tech company specialising in the design and construction of low-carbon buildings, has raised over €10 million in a funding round led by Mirova’s first impact private equity fund.
The Riverside Company, a global private investor focused on the smaller end of the middle market, has appointed Dörte Höppner to the newly formed role of chief sustainability officer.
Höppner will oversee and drive forward ESG initiatives across Riverside globally. Dörte, who joined Riverside in 2017, will continue to be based in Europe and report directly to The Riverside Company Co-CEOs, Stewart Kohl and Béla Szigethy.
In her new role, Höppner will take on responsibility for identifying ESG initiatives and harmonising the integration of these within Riverside’s various fund families, working closely with the managing partner of each Fund
Vista Equity Partners (Vista), a global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, has sold Datto, a global provider of security and cloud-based software solutions purpose-built for MSPs, to Kaseya for $35.50 per share valuing the company at $6.2 billion.
Pegasus Entrepreneurial Acquisition Company Europe (Pegasus Entrepreneurs), a Tikehau Capital-sponsored SPAC focused on high-growth entrepreneurial businesses, is to combine with FL Topco BV.
Following the completion of the Business Combination, FL Entertainment NV (FLE), a specialist in independent content production and one of the fastest-growing online sports betting platforms in Europe, will list on Euronext Amsterdam. The first day of trading is expected to take place on 1 July, 2022.
FL Entertainment and Pegasus Entrepreneurs have raised over €645 million in this transaction: €250 million from FLE’s controlling shareholder, approximately €230 million from PIPE investors, approximately €116 million contributed
TA, a global growth private equity firm, and Evercore, a premier global independent investment banking advisory firm, have launched the second year of TA-CORE, a partnership to promote greater diversity in the private equity and investment banking industries.
TA-CORE focuses on expanding the diversity pipeline within investment banking and private equity by providing education, access and career opportunities to young professionals from historically underrepresented racial and ethnic groups.
Participants in the program benefit from more than five years of mentorship at Evercore and TA, enabling them to build subject matter expertise in an entrepreneurial environment, gain exposure to marquee transactions
Presto Ventures, a VC fund investing in early-stage B2B startups from Central and Eastern Europe (CEE), has announced the final close of its €30 million Fund II.
The new fund will invest in up to forty B2B tech startups at seed and pre-seed stages in the CEE region, supporting them with fast access to capital, fast business development, and fast growth. Presto has already invested in startups such as Cloudtalk, IP Fabric, Yieldigo, Sharry and Wolf3D.
Presto Ventures has also announced the appointment of three new partners: Roman Nováček, a CFA charterholder and ex-analyst at US private equity firm GTE;
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