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| In today's Daily Pitch, you'll find: | | | | | |
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| Ranking the most active investors of Q2 | | | Our interactive Global League Tables are now available for Q2 2023, covering the full range of private market activity. The tables break down the most active investors by region, industry, deal type and more, along with ranking advisers, acquirers and law firms. Who led the way? | | | | | | | | | How first-time fund managers can gain fundraising edge | |  | | (© Marco Bottigelli/Getty Images) | | | A number of boutique PE firms have nabbed inaugural funds in a tough fundraising market. Several strategies supported these managers, including deploying capital during fundraising to provide LPs with greater visibility into assets that will help comprise the pool of investments.
At the same time, certain emerging managers—such as independent sponsors that have built their track record by investing on a deal-by-deal basis, and GPs with an industry specialization—can stand out in a crowded market. | | | | | | | |
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| How to choose AI for private equity legal workflows | | AI has the potential to streamline private fund managers' legal activities. Unfortunately, generic AI platforms don’t meet private equity's exacting standards. They often provide inaccurate information because they can't understand and generate nuanced legal language. Without meticulous human review, generic AI could incorporate inaccurate, inconsistent, and poorly worded text into documents, increasing a firm's legal, financial, and reputational risk.
To avoid implementing costly and unhelpful AI applications, firms need to understand the fundamentals of AI and how to evaluate vendors' claims. We compiled information on how AI works, the risks of generic AI, and the five most important questions to ask AI vendors. We also introduce you to Ontra Synapse, AI built for private markets.
Download The Comprehensive Guide to AI for Private Equity | | | | | | | |
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| What PE slowdown? European financial services defy trend | |  | | (Ishomos uddin/Getty Images) | | | European private equity investment into financial services has already hit €59.5 billion (about $65 billion) this year, at a time when deals in other sectors are in decline.
While Worldpay's massive LBO, announced in July, has significantly boosted that total, this is mostly a tale of small deals in areas where PE investment can rapidly make a big difference. | | | | | | | | | Infosec waits for the M&A flood | | Information security remains a top spending priority for businesses, despite VC funding remaining flat in Q2 2023 with 157 deals totaling $2.2 billion—nearly identical to the three previous quarters.
According to PitchBook's Q2 2023 Information Security Report, however, M&A is likely to pick up in the second half of the year. Discover opportunities within the space in our recent Emerging Tech Research. | | | | | | | | | | Climate change, inflation and global instability have thrust companies that sell insurance to insurers into the spotlight. [The New York Times]
PE firms that specialize in founder-owned businesses called the recent surge in dealmaking activities abrupt and significant. [Institutional Investor]
China's deepening property crisis threatens trouble. [The Economist] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 428 Deals | 1819 People | 560 Companies | 21 Funds | | | | | | |
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The Daily Benchmark:
2013 Vintage Global Real Assets Funds | | | | | | |
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| PitchBook webinar: Why allocators should rethink manager benchmarking | | Allocators employing traditional, quartile-based benchmarking methodologies to screen private fund managers face challenges in capturing historical performance. These techniques not only fail to capture the range of performance within each quartile, but also fail to offer a simple way to aggregate performance across multiple funds within the same strategy and compare that performance against similar strategies.
In this webinar, analysts from our Quantitative Research team will discuss a new framework for analyzing manager performance and unpack its implications for the due diligence process.
Register now to secure your spot. | | | | | | | |
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Energy Transfer, a pipeline group, is planning to buy Crestwood Equity Partners for $7.1 billion, the Financial Times reported.
EY has rejected TPG's offer to buy the Big Four firm's consulting arm, the Financial Times reported.
Coalesce Capital has backed its first company, compliance healthtech business Examinetics, The Wall Street Journal reported.
Warburg Pincus and Kelso are in talks to acquire Mexico-based Coca-Cola bottler Femsa in a deal worth around $5 billion, Bloomberg reported. | | | | | |
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| UK FinTech Growth Partners has launched its FinTech Growth Fund, which will invest in Series B to pre-IPO fintech companies. The fund's backers include Barclays and London Stock Exchange Group. | | | | | |
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| Apollo Global Management is set to lend more than $4 billion in net asset value loans to fellow PE firms struggling to raise cash, Bloomberg reported. | | | | | |
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| Intel has canceled its $5.4 billion acquisition of Israel's Tower Semiconductor after failing to receive regulatory approval in time. | | | | | |
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