Blackstone’s Jonathan Gray on M &A rebounding; GI Partners, TA Associates set eyes on Netsmart ; plus International Women’s Day

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Blackstone’s Jonathan Gray on M&A rebounding; GI Partners, TA Associates set eyes on Netsmart; plus International Women’s Day

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayiti here with the newsletter this morning.

Today is International Women's Day and to help celebrate, I will feature an interview with Marcelia Freeman from Clearlake Capital, who is part of our Women in PE, Class of 2024 special report.

But first, I have the latest from PEI Group’s NEXUS 2024 summit,with comments from Jonathan Gray, president and chief operating officer of Blackstone.

Up next, we have a scoop that GI Partners and TA Associates took first-round bids for a medical payment processor this week.

And then I will look at AE Industrial’s investment in a producer of fuel for military aircraft and spacecraft.

M&A will come back

Jonathan Gray, president and chief operating officer of Blackstone, shared his thoughts on the M&A outlookin a Fireside Chat with Richard Melville, the editorial director, US, of PE Hub publisher PEI Group, at the NEXUS 2024 summit on March 7.

Upgrade to the premium version of the Wire to learn more on what Gray said.

For more coverage of NEXUS, see these interview with KKR’s co-chief executive Scott Nuttall.

Medical payment

GI Partners and TA Associates took first-round bids for a medical payment processor on March 6, two sources familiar with the matter told PE Hub.

Premium subscribers have more on this scoop.

Spacecraft

Competition to build and provide accessories for spacecraft equipment has been ticking up in recent years, with private equity firms taking notice. Recently, AE Industrial acquired Calca Solutions, a manufacturer of hydrazine, a fuel that is used for spacecraft and military aircraft.

Upgrade to the premium version of the Wire to get more details on this deal.

Women in PE, class of 2024

Today is International Women's Day and to help celebrate, I am featuring Marcelia Freeman, from Clearlake Capital,who is part of our Women in PE, Class of 2024 special report.

Premium subscribers get more on this story.

That’s it for today. MK Flynn will be back with more on Monday.

Have a nice weekend,

Obey

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

In celebration of International Women’s Day on March 8, PE Hub Europe is running a series of interviews with senior women in private equity. It kicks off with Rebecca Gibson, partner at Oakley Capital, who was appointed chair of Level 20, an organisation that aims to inspire women to join the European private equity industry, in January.

Maryland State Retirement and Pension System is eyeing a secondaries sale later this year as it works to pare down its portfolio of GP relationships, the system’s deputy CIO Robert Burd said at PEI Group’s NEXUS 2024 conference Thursday. (Buyouts)

Stonepeak has held a $3.3 billion final close on its inaugural pan-Asia infrastructure fund, exceeding its $3 billion target. (Infrastructure Investor)

The SEC's long-awaited and controversial Climate Disclosure Rule will require registered companies to disclose material climate risks to their business strategies and operations, and GHG emissions for the largest companies. (New Private Markets)

They said it

“Three times in the last 30 years, M&A has gone down by 50 to 60 percent: in the early '90s, in '08-'09 after the financial crisis, and the last two years. And in those previous two periods of time, within four or five years, you got back to those levels, and then you went higher.”

— Jonathan Gray, president and chief operating officer of Blackstone, at the NEXUS 2024 summit