| |
| |
| Let's talk about race: Live video event | |  | | (Our panelists, from left: Matheny, Eggers, Muller, Lambert) | | | You're invited to join PitchBook News on Nov. 12 for a live, interactive conversation on the evolving role that investors play in addressing diversity and equality issues across the private markets. Speakers include: - Lisa Lambert, president and founder of National Grid Partners, and former head of Intel Capital's diversity fund
- Barry Eggers, founding partner, Lightspeed Venture Partners
- Cynthia Muller, director of mission-driven investment, W.K. Kellogg Foundation
- Angela Matheny, diverse-manager consultant, New York-based Crewcial Partners
- The event will be moderated by Alexander Davis, PitchBook News' executive editor, and Hilary Wiek, a PitchBook senior analyst
RSVP today to join us | | | | | | | | | | What's electrifying the romance between SPACs and cleantech? | |  | | Los Angeles-based Canoo is among the US cleantech companies that have sealed SPAC deals so far this year. (Courtesy of Canoo) | | So far this year, a dozen US-based companies that develop electric vehicles, batteries and autonomous driving technology have teamed with SPACs to go public through reverse mergers.
The deal activity is being fueled by a mix of public investor demand for cleantech companies and the cash needs of these R&D-heavy startups. There's arguably never been a better time for unprofitable companies in the sector to strike up a partnership to go public: | | | | | | | |
|
| |
| Let's solve investment decision-making | | A blend of innovative portfolio company analytics and services can give you the insights you need to solve complex challenges in the moment. Discover how FIS helps private equity firms streamline investment decision-making and portfolio analytics.
In PE, you need to be able to make smart decisions based on timely data you can trust. But for many deal teams and fund managers, manual processes, inconsistent formats, and the need for speed lead to unreliable data and imperfect analytics. And with today's unprecedented challenges, there is no room for lag time or error.
Read FIS' new eBook for insights on how to streamline and solve the challenges of portfolio company monitoring, analytics and investment decision-making. | | | | | | | |
|
| The impact of the 2020 election | | Have your firm's dealmaking pace or fundraising plans changed ahead of the US presidential election? What are your biggest areas of concern ahead of a Biden presidency or a Trump second term?
We've created a short pre-election survey seeking the investor perspective (all answers are anonymous and results will only be published in aggregate):
Take the survey | | | | | | | | | | Lone Star to take retirement home builder McCarthy & Stone private | |  | McCarthy & Stone's Langton House in Surrey
(Courtesy of McCarthy & Stone) | | | US private equity giant Lone Star has agreed to acquire retirement home builder McCarthy & Stone in a take-private deal valuing the UK-based company at around £630 million (around $821 million).
Lone Star's offer of 115 pence a share represents an almost 39% premium to McCarthy & Stone's closing share price the day before the deal was announced. The builder's stock had lost 44% over the course of the pandemic, reaching a low in March at 41.42 pence.
In the first half, McCarthy & Stone shut down sales offices and sites under construction; of its 44 sites, only 17 were operational by mid-July.
Over the past decade, the UK's adult-care homes sector has seen a sharp uptick in interest from PE firms seeking to capitalize on a market underpinned by the fundamentals of a rapidly aging population and a short supply of suitable homes for older people. But PE ownership of retirement homes also has been a focus of controversy over homes' management, potentially making the real estate side of the industry a more predictable way to tap into the growing sector.
Global real estate fundraising has been resilient in the face of the pandemic, on track to eclipse the $100 billion mark. The majority of the capital originates in the US but Europe saw its largest-ever real estate vehicle with Blackstone's Real Estate Partners Europe VI closing on $10.8 billion.
Lone Star said it will buy McCarthy & Stone through its seventh real estate fund, which closed on around $4.6 billion in June 2019. | | | | | | | | | | When it comes to pushing for increased diversity in the money management industry, famed Yale endowment chief David Swensen is putting his money where his mouth is. [The Wall Street Journal]
As American life has grown more comfortable over the decades, on average, the country's citizens have grown less happy. Why? [The Atlantic]
Companies in a wide array of industries are trying to use machine learning to better anticipate the future. But as sci-fi tales have warned us for decades, predictive technology comes with potential pitfalls. [Harvard Business Review] | | | | | |
|
| |
| | Since yesterday, the PitchBook Platform added: | | 23 Deals | 170 People | 58 Companies | 3 Funds | | | | | | |
| |
| |
| |
| |
| |
| |
| 2018 Vintage Global Funds-of-Funds | | | | | | |
|
| |
| |
| |
| Sirnaomics collects $105M | | | | | | | | | Allonnia launches with $40M Series A | | | | | | |
|
| |
| |
| PE-backed Inspire Brands eyes $9B Dunkin' deal | | | Inspire Brands, the group behind Arby's and Sonic, is in talks to acquire Nasdaq-listed Dunkin' Brands Group, the owner of Dunkin' Donuts and Baskin-Robbins. Inspire offered $106.50 a share for the business, according to The New York Times, a 20% premium over its closing share price on Friday. Inspire is controlled by Roark Capital which first acquired a stake in the business in 2011. | | | | | | | | Brightstar buys Brightstar | | | Brightstar Capital Partners has acquired a 75% stake in Brightstar, a Miami-based provider of wireless services for mobile carriers, from SoftBank, which will retain the remaining 25% stake in the business. SoftBank originally acquired a majority stake in Brightstar for around $1.3 billion in 2014. | | | | | | | | BBX-backed Renin purchases Colonial Elegance | | | Renin, a manufacturer of doors and other home decor products, has acquired Colonial Elegance, a Montreal-based provider of building products, for approximately $39 million. Renin is a subsidiary of BBX Capital, a Florida-based holding company that invests in real estate and a range of other industries. | | | | | |
|
| |
| |
| Ripple weighs London move over US regulations | | | Cryptocurrency company Ripple is considering a move to London after facing several regulatory roadblocks in the US, according to CNBC. At issue is whether the San Francisco-based company's cryptocurrency XRP is a security or a currency. The UK would characterize XRP as a currency, making it more advantageous for Ripple to operate across the pond, according to the report. Ripple has also reportedly considered Switzerland, the UAE, Singapore and Japan for a potential move abroad. | | | | | | | | Ares could sell paint purveyor | | | Ares Management has begun speaking to advisers about a potential sale or other strategic options for Farrow & Ball, a seller of premium paint and wallpaper, according to Bloomberg. Ares acquired the English company in 2014 for £275 million (about $433 million at the time). | | | | | |
|
| |
| |
| Spell Capital seals plastics deal | | | Spell Capital Partners has sold Polar Plastics, a maker of polyethylene products for the packaging, retail and other sectors, to Revolution, another manufacturer of plastic products. Spell Capital had backed the St. Paul, Minn.-based business since 2018. | | | | | | | | Lufax aims to raise $2.4B in IPO | | | Chinese fintech company Lufax is seeking to raise up to $2.36 billion in an upcoming IPO on the NYSE, with plans to offer 175 million American depositary shares for between $11.50 and $13.50 per share. Backed by Ping An Insurance, the Shanghai-based company offers wealth and asset management services through its online and mobile platform. | | | | | |
|
| |
| Wells Fargo weighs major divestiture | | | Wells Fargo is considering a sale of its asset management division, part of a plan led by CEO Charles Scharf to generate up to $10 billion in long-term annual savings, according to Reuters. The San Francisco-based bank could sell its asset management arm for more than $3 billion, the report said. | | | | | | | | EQT eyes CNX Resources takeover | | | | | | |
|
| |
| |
|
No comments:
Post a Comment