| View this email online The Wire Aug. 5, 2021 Butterfly agrees to invest in MaryRuth Organics, PSG, TPG co-lead recap of Government Brands Happy Thursday! We’ve got deal news from emerging manager Butterfly. The firm agreed to invest in MaryRuth Organics, a wellness brand with a portfolio that includes vitamins, probiotics, herbal and adaptogen supplements and skin and beauty, among other things. PSG and TPG co-led a recapitalization of Government Brands, which provides government software and integrated payment services. PSG will retain its majority stake and TPG will become a minority shareholder, investing through its Tech Adjacencies Fund. Greater Sum Ventures, meanwhile, will exit its position in the company. Government Brands was formed in 2017 and has grown organically and through more than 25 add-ons. The pandemic highlighted the need for government agencies to accelerate digital initiatives. Read more here. That’s it for me! Have a great rest of your day. Hit me up with tips n’ gossip, feedback or book recommendations at cwitkowsky@buyoutsinsider.com or find me on LinkedIn. Read the full wire commentary on PE Hub... Also of note (may require subscriptions) Named: TPG named Jack Weingart as chief financial officer overseeing the finance, treasury and capital markets operations. Weingart joined TPG in 2006 and spent over a decade with the funding group that focuses on fundraising and capital markets activities. Prior to joining TPG, Weingart worked at Goldman Sachs. Read it here. Single-asset: Alpine Investors completed its second single-asset secondary deal, this time on its portfolio company Ingenio, which provides an online marketplace for the wellness industry. The deal totaled $462.4 million, with $232 million in new equity capital. Read it here. Amassing: Patient Square Capital, a first-time fund manager formed by ex-KKR healthcare chief Jim Montazee, is eyeing more than $1 billion for a first close, sources told Buyouts. The firm is targeting $3 billion, which, if it hits that mark, would make it among the largest-ever debut funds. Read more here. PE Deals They said it “When you look back over the past decade, there’s just been steady growth of capital pouring into this industry. If you look at the industry as a whole and where it was 10 years ago to where it stands today, it’s a tremendous growth story.” Brenda Rainey, executive vice-president of the global private equity practice at Bain & Co, on the growth of PE over the past decade. Today's letter was prepared by Chris Witkowsky Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE Please visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 