View this email online 

Bain Capital invests in KP Aviation; Toshiba board gives green light to shareholders on take-private

Good morning Hubsters, Craig McGlashan here, filling in on the Wire.

We’re taking off today with a look at aviation, as Bain Capital Special Situations invests in a supplier of aftermarket material and services, and I take the opportunity to plug some of our recent coverage of the sector on PE Hub Europe.

Next we have an update on the attempted take-private of Toshiba by Japan Industrial Partners, before we look at an investment by Braemont in the insurance sector.

PSG buying a stake in an analytics provider for health systems and life sciences organizations rounds out today’s deal coverage, and then we finish with a survey that asked whether asset managers are using AI in their day-to-day business.

Aviation

Bain Capital Special Situations has invested in a supplier of essential aftermarket materials and services.

We’ve also seen some action in the aviation sector over on PE Hub Europe, including Blackstone planning to sell MB Aerospace to Barnes Group for an enterprise value of around $740 million.

Talking Toshiba

The board of Japanese conglomerate Toshiba has recommended shareholders accept a 4,620 yen per share – valuing the company at 2 trillion yen ($14.3 billion) – from a group led by Tokyo-based investment fund Japan Industrial Partners.

The board had supported the tender back in March, but had refrained from deciding whether to recommend the offer to shareholders.

Read the full version of the Wire for more.

Insurance

Braemont has invested $125 million in an insurance program market services firm.

Health systems

PSG has made an investment in a provider of analytics and data-enabled services for health systems and life sciences organizations.

ESG

We’ve been looking into whether the private equity industry is adopting generative AI – check out this great piece from Rafael Cantonfor more on that – but we’ve now got some figures on the subject.

Check out the full version of the Wire for more.

That’s it from me – Obey Martin Manayiti will be with you tomorrow.

Cheers,

Craig

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

MiddleGround Capital, which is embarking on its next fundraising cycle, is running a process to extend its hold over its portfolio company Banner Industries that will provide funding for a business combination, sources told Buyouts.

Turnaround specialist KPS Capital Partners, in the market with a sixth flagship offering, is nearing the first close of the vehicle’s mid-cap companion. (Buyouts)

Are infra and real estate happy bedfellows? The proposed merger of IFM Investors and ISPT is the latest in a string of examples of GPs seeking to combine infra and real estate strategies. (Infrastructure Investor)

ICG‘s chief executive and chief investment officer has said that the environment of private equity sponsors wanting to hold onto assets for longer has been a boon to its Strategic Equity strategy. (Secondaries Investor)

BlackRock has launched the fourth vintage of its Global Renewable Power fund series, with a plan to raise up to $7 billion, Infrastructure Investor understands.

Four ex-Signature Bank employees are said to be heading to a regional bank in Charlotte, N.C., to start a new subscription credit line lending program, according to people familiar with the matter. (Private Funds CFO)

Charterhouse Capital Partners, one of the UK’s oldest private equity firms, has closed its second continuation fund this year, attracting backing from Goldman Sachs Asset Management, CPP Investments and Hamilton Lane. (Secondaries Investor)