View this email online 

Alpine Investors launches improvement services platform; KKR headlines six recent data center deals

Happy Friday, dealmakers!

It’s Rafael Canton here on the Wire for the first time.

This morning, we have a look at a recent rise in data center-related deals over the past two months involving firms such as KKR and GI Partners.

We also have some deals that caught our eye late yesterday, one involving Renovus Capital Partners and the other featuring Alpine Investors, then a brief look at how relationships can impact dealmaking.

Governance

Premier International, a portfolio company of Renovus Capital Partners, acquired Information Asset, a New Jersey-based data governance and risk management firm.

Residential

Alpine Investors launched Vertex Services Partners, a Charlotte, North Carolina-based residential home improvement services platform.

For ongoing coverage of deal announcements reported by Iris Dorbian throughout the day, see PE Hub’s news in briefsection.

Data Storage

There have been a significant number of deals centered around data centers, which have seen an increase in usage thanks to the evolution of technology.

I looked at six deals involving data centers that have been announced in the past two months.

Read about the deal on the premium version of the Wire.

Relationships are at the heart of dealmaking

Earlier this week, my conversation with RedBird Capital Partners about its significant minority investment in rental Go Rentals was published. I spoke to RedBird’s founder, managing partner and chief investment officer, Gerry Cardinale and partner, Andrew Lauck about the deal.

Left off the cutting room floor was something Gerry said that stuck with me. In my less than three months covering private equity, I’ve seen how important relationships can be to dealmaking.

Read about the deal on the premium version of the Wire.

On that note, I’ll sign off for today. MK Flynn will be back with the Wire on Monday. Have a nice weekend.

If you want to keep the conversation going or have any thoughts, please email me at rafael.c@pei.group.

Thanks,

Rafael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Wellspring Capital is running a process to move several assets out of an older fund and into a continuation pool for more time and capital to grow the businesses, sources told Buyouts.

Adams Street Partners is targeting $500 million for its eighth growth equity fund, coming back to the market after closing its predecessor in 2020. (Buyouts)

GP stakes transactions seem to be ten-a-penny these days as an ever-expanding universe of dedicated firms vie for market share. What’s less common, however, is one done through a generalist blind-pool growth fund. Enter: Permira. (Private Equity International)

New York State Teachers’ Retirement System plans on making between $1.6 billion and $2 billion in private equity commitments in 2024, an increase from its current range. (Buyouts)

Why LPs are getting the seven-year itch: There’s an interesting dynamic playing out in the secondaries market that suggests LPs’ thinking about how to manage their portfolios is evolving. (Secondaries Investor)

In what has been described as the slowest M&A market for VC-backed companies in a decade, London-based Foresight Group stands out for achieving exits for four portfolio companies over the last 12 months. (Venture Capital Journal)

responsAbility Investments has gathered $106 million from private investors and development finance institutions for a fund that will support loans to developing world agribusinesses. (Agri Investor)

Meet the first-time fund seeking $5 billion to revive oil and gas production responsibly: Amid a ‘much more difficult’ fundraising environment for oil and gas production strategies, the Tomorrow Fund has raised $1billion at first close for its first fund. (New Private Markets)

The $30.4 billion, record-breaking Blackstone Real Estate Partners X had such an outsized impact on H1 capital raising, Private Equity Real Estate examined what the numbers looked like without it.

AltamarCAM Partners, the 10th largest secondaries firm in Europe by fundraising, has agreed to become a Permira portfolio company in an unusual example of a GP stake transaction via a fund. (Secondaries Investor)

Neuberger Berman’s NB Credit Opportunities Fund II has held a final close at approximately $2.5 billion in commitments, exceeding the initial target of $1.5 billion. (Private Debt Investor)

Eurazeo is mulling either an exit or a full acquisition of Spanish mid-market firm MCH Private Equity, four years after it picked up a stake in the firm. (Private Equity International)