Also of note (may require subscriptions)

Specialist: Crosspoint, a first-time firm that just closed its debut pool on $1.3 billion, plans to build out a concentrated portfolio that will give it time and space to work operational changes to its portfolio companies that require that kind elbow grease. Read more here.

Strong performance: Investment Management Corp of Ontario, recently formed to help public sector funds scale and tap into private markets, generated a one-year net return of 34.2 percent from its PE investments last year, according to an annual report. IMCO was launched in 2016 to pool and invest Ontario public sector fund assets, taking as a model systems like Caisse de dépôt et placement du Québec, Buyouts writes. Check it out here.  

Mega: Thermo Fisher Scientific is nearing a deal to buy pharmaceutical-testing company PPD Inc. for more than $15 billion, Wall Street Journal reports. Read it here. 

They said it

“If you’re a new fund, you need a reason to exist. There’s enough capital in the world … what you need is an idea and experience … to show how you’re different to get LPs excited.”   

ugh MacArthur, head of global private equity at Bain & Co., told Buyouts in a recent interview.

Today's letter was prepared by Sarah Pringle

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