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The private equity space has seen a number of high-profile fund closes this week with, which invests in Nordic tech firms, holding the first close of its second fund at EUR50 million. New York-based firm Constitution Capital Partners held a final close of Ironsides V at USD1 billion – its largest fund to date.

Apollo issued a USD300 million secured note to Cimpress, a commercial-printing company that owns Vistaprint and has been affected by the pandemic, via its Hybrid Value strategy. Designed to provide downside protection for investors, it aims to commit sizeable investments in a short timeframe.

The deal marks the second large capital solutions transaction led by Apollo’s Hybrid Value business in April, bringing its investment total to USD900 million this month. 

Elsewhere, Carlyle saw a USD1.2billion investment loss in Q1 and the private equity group said it “withdraws all previous financial guidance” due to pandemic fallout as the economic effects of coronavirus “reduces our ability to accurately forecast near-term financial results”. The results mean that the accrued carry on three of the group’s funds is completely wiped out.

In two feature articles by James Williams, we examine what new technologies are out there, as well as how new tech is helping individuals work from home and organisations combat distance working in the face of a global pandemic.

This mirrors the findings that half of PE firms are now hiring through video-based interviews, according to PE and venture capital recruitment firm PER.

While firms do their best to weather the storm and survive in the developed world, the economic and health impacts of Covid-19 will be far greater for emerging markets, which may require financial aid in order to recover. You can read our in-depth analysis and commentary in Karin Wasteson’s feature this week.

Private Equity Wire



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