Court Square to make 6.5x on $2 bln Rocket Software sale; TA preps PhysIOL for a sale; TPG eyes disruptive opportunities in education, healthcare and dying malls
Increasing emphasis on deal origination as a core competency in private equity translated into better deal-sourcing results, per Sutton Place Strategies’ 2018 Deal Origination Benchmark Report analysis. The DOBR is an annual report that compares the market coverage of a PE firm – the percentage of relevant, completed PE transactions with a sell-side adviser that […]
PE consortium forms to buy Arconic; Goldman’s Petershill to invest in General Catalyst Partners; Interest groups get aggressive approaching firms’ LPs
ACLU comes out against Endeavour Capital Interest groups target firms’ LPs High-pressure tactics LP activism has recently taken on a lot more significance. I’ve often wondered why interest groups didn’t target a firm’s LPs if they wanted to get the firm to change its behavior. Simply going after the firm itself is not really effective; […]
The Great B-School Debate: for networking, or for skills?, Martis Capital eyes $450 mln for healthcare fund
The recent reshaping of indemnification norms in U.S. private M&A deals caused by the exponential growth and widespread acceptance of representations and warranties (R&W) insurance is the most significant shift in the North American market since the death of the financing in the mid-2000s. That's the view of Osler, Hoskin & Harcourt LLP Partners Michael Budabin McQuown, Marc Kushner and Chad Bayne and Associate Jillian Mulroy. In a PE Hub Canada feature article, they argue that for a growing number of dealmakers in Canada and the United States, the question regarding R&W insurance is when, not whether, to take the plunge.
Private equity dominates Ascensus auction; Tailwind Fund III raises $1.8 bln; SEC targets a fund revamp. Are the floodgates open?
The SEC finally came out with an action against a secondary restructuring deal, something I’ve been waiting for since agency officials started making public noise about these deals years ago. In 2016, the agency’s co-head of its Private Funds Unit, Igor Rozenblit, said the opacity and complexity of PE-fund restructurings provided cover for a fraud tied […]
Advent gears up for next flagship fund; Blackstone to buy minority of New Mountain; What tech M&A knows that VC still doesn’t get
By Andrew K. Jennings, Ekdesk With #MeToo emerging as a distinct risk category in M&A, buyers and their advisers must think about how to diligence these issues. Nearly a year after the Harvey Weinstein story broke, “Weinstein” and “#MeToo” reps are starting to appear in merger agreements and may be on their way to becoming market terms. […]