| | | | | | | Today: It's 3.14 or Happy Pi Day! I, Luisa, will also be your guide through this second day of Daylight Savings. M&A: Today's big deal is Apollo Global's $1.36 billion buy of The Fresh Market. Apollo is investing about $525 million equity in the transaction which interestingly enough includes a 21-day go-shop. Fresh Market did run an auction so now they are offering another chance for a buyer to swoop on in. Will they succeed? The go-shop has become more popular in the past decade although I can't remember when the clause actually resulted in a suitor coming in and winning a company. Read the announcement here. In another deal, SS&C has also finally closed its buy of Citi's Alternative Investor Services Business. The transaction appears to have declined in value. When announced in August, SS&C's buy of the Citi unit was valued at $425 million. This has now dropped to about $321 million. That's a noticeable difference in a relatively small deal. Diversity: We've been reporting recently on women in private equity. Preqin has some startling news. The percentage of women holding senior roles at buyout firms dropped for the second year in a row, Preqin said. Women hold just 7.3 percent of senior positions at buyout shops, down from 7.5 percent in 2015. The best strategy for women? Real estate. Read the story here. If you have a comment, a tip, or something nice to say email me here at lbeltran@buyoutsinsider.com. If you have a complaint, email Chris at cwitkowsky@buyoutsinsider.com. -- Luisa |  | | Today's Take | | | PE HUB First Read In First Read, a human finally wins a Go match against AI AlphaGo program, Blackstone is near selling a portfolio of U.S. luxury hotels to the Chinese owners of the Waldorf Astoria just months after buying it for $4 billion and North Korea threatens to wipe out Manhattan. Intel plans to sell part of venture capital unit: Bloomberg Intel Corp is looking to sell part of its venture capital portfolio, assets that could be worth as much as $1 billion, Bloomberg reported. PE HUB Second Opinion To close out your week, Second Opinion has news: GM to buy autonomous-vehicle technology developer Cruise Automation for $1 bln, Ford is looking for a tech exec to be the CEO of its new mobility company, and VC-backed grocery delivery startup Instacart cuts pay for couriers. CalPERS loses member of private equity co-investment team Scott Brown, a private equity investment officer at the California Public Employees' Retirement System, left the pension in January, a CalPERS spokesman confirmed. It's not clear when the system will replace Brown. "The position will be filled by the standard state recruiting process," Joe DeAnda, CalPERS spokesman, said in an email. Brown joined CalPERS in [...] Percentage of women in senior roles at buyout firms falls: report The percentage of women holding senior roles at buyout firms dropped for the second year in a row, according to data from Preqin. Just 7.3 percent of senior positions at buyout firms are currently held by women, down from 7.5 percent last year and 9 percent in 2014, Preqin reported. Market at a glance U.S.-based buyout and mezzanine fundraising cooled over the past two weeks, as the year-to-date tally stepped up only modestly to $27.8 billion from $25.5 billion. It now trails where we were at this time last year by about $22 billion. Still, a bevy of funds reached their endpoints. | | | | | | VC Deals | | | Oncora Medical raises $1.2 mln Oncora Medical has raised $1.2 million in funding from investors including iSeed Ventures, BioAdvance as well as medical physicist and entrepreneur, Dr. Thomas "Rock" Mackie. Philadelphia-based Oncora is a digital health startup. Intel plans to sell part of venture capital unit: Bloomberg Intel Corp is looking to sell part of its venture capital portfolio, assets that could be worth as much as $1 billion, Bloomberg reported. Angel activity spikes in New England Angel activity in New England spiked last year, with investors there leading the region to rival California as the nation's center of early company activity, according to the ARI Halo Report. Emoji marketing startup Inmoji raises $5 mln Inmoji, which connects brands with consumers on mobile messaging using interactive emojis, has raised $5 million in Series A funding led by Dr. John Wigneswaran. The company, which has offices in Boston and San Francisco, said also participating in the round were technology luminaries within MIT Sloan School of Management community. Inmoji previously raised $2.4 million in seed-stage funding from ex- PayPal Media COO David Chang, Paypal Start Tank and Atlas Venture, now known as Accomplice. | Meet The Man Who President Bill Clinton Described As
The Greatest Treasury Secretary Since Alexander Hamilton! Join Robert Rubin, Former U.S. Secretary of the Treasury, and Co-Chairman
for the Council on Foreign Relations at PartnerConect East in Boston,
where he'll provide insight on the year ahead.
Over 600 of your PE/VC peers will be at this year's
PartnerConect East conference , the must-attend for
any executive wondering how the current state of
affairs will impact their business.
Register Today!
April 4-6, 2016 | Hyatt Regency | Boston, MA |
| PE Deals sponsored by | |
| | | | | Apollo Global to buy The Fresh Market for $1.36 bln Apollo Global Management has agreed to buy The Fresh Market for $28.50 a share or about $1.36 billion. George Golleher, ex-CEO of Smart & Final and Ralphs Grocery Company/Food-4-Less, is also investing in the deal. Fresh Market is a specialty grocery retailer founded by Ray Berry that operates 186 stores in 27 states across the United States. Ray Berry and Brett Berry, who collectively own approximately 9.8% of The Fresh Market's outstanding shares, are rolling over most of their holdings in the deal with Apollo. The transaction includes a 21-day go-shop where Fresh Market can solicit outside offers. The transaction includes $800 million in new financing and an equity contribution of approximately $525 million Apollo in addition to the equity rollover from the Berrys. Apollo Global nears deal to acquire Fresh Market: Reuters Private equity firm Apollo Global Management LLC ( APO.N) is nearing a deal to acquire Fresh Market Inc ( TFM.O), a U.S. specialty grocery retailer, for more than $1.3 billion, Reuters News reported. Bold Capital Partners invests in BlueLine Grid BlueLine Grid said Friday that Bold Capital Partners has invested in the company. Financial terms weren't announced. Bethesda, Maryland-based BlueLine Grid is a security collaboration platform. Clearlake Capital launches platform to invest in food, health trends Clearlake Capital Group LP launched Better For You Holdings, a new platform focused on investments in emerging food and health and wellness trends. Through the platform, Clearlake is partnering with Halen Brands, a recently-formed venture targeting investments in the food products sector. Clearlake's Jos E. Feliciano, Behdad Eghbali, and Arta Tabaee will join the boards of both Better For You Holdings and Halen Brands. Charterhouse sells Italian drugs firm Doc Generici to CVC: Reuters Private equity house Charterhouse [CHCAP.UL] is to sell Italian generic drugs firm Doc Generici to fellow buyout firm CVC [CVC.UL], the companies said on Friday. NVM exits stake in Control Risks NVM Private Equity exited its stake in Control Risks Group Holdings, a UK-based risk consultancy specializing in political, integrity and security risk. NVM and a syndicate of co-investors acquired a significant minority stake in Control Risks in 2011. Oaktree, Leumi invest $28.81 mln in online lender EZBob Online lending platform EZBob Ltd closed a Series C funding round with a 20 million pound ($28.81 million) equity investment from Leumi Partners, the investment banking arm of Israel-based Bank Leumi, and existing investor Oaktree Capital Management LP. EZBob, which trades as business e-lenders Everline and EZBob, is based in London. | How can you get involved at Buyouts East? ACG Boston
Co-Hosted Opening Night Reception
DealMakers Dinner
Private dinner for bankers, lenders & GPs
Post Event Workshop & Luncheon
Hosted by Cambridge Associates
Register Today!
April 4-6, 2016 | Hyatt Regency | Boston, MA |
| | IPOs | | | | | | No items | | | | | | | Anne Arundel Dermatology buys Dr. Jampel practice Anne Arundel Dermatology Management, a portfolio company of New MainStream Capital, has acquired the practice of Risa M. Jampel, MD. Financial terms weren't announced. Based in Owings Mills, Maryland, the Jampel practice provides cosmetic, general and surgical dermatology services. SS&C closes buy of Citi's Alternative Investor Services Business SS&C Technologies Holdings Inc said March 11 it closed its buy of Citi's Alternative Investor Services Business. The deal was valued at about $321 million. Citi's Alternative Investor Services Business provides hedge fund and private equity fund administration services. The sale was announced in August. GM buys VC-backed Cruise Automation to speed self-driving car strategy: Reuters General Motors Co (GM.N) is buying Cruise Automation, a San Francisco self-driving vehicle startup, the latest move by the auto giant in its effort to outflank Silicon Valley in the race to develop shareable, autonomous vehicles. Audax-backed AllOver Media buys Astra Pacific Outdoor Advertising platform AllOver Media LLC, a portfolio company of Audax Private Equity, acquired Astra Pacific Outdoor, an outdoor advertising company. Financial terms of the deal were not disclosed. Gimv, Capricorn others agree sale of Punch Powertrain to China's Yinyi: Reuters Belgian holding company Gimv ( GIMV.BR) said on Thursday that it and other shareholders had agreed to sell automotive system supplier Punch Powertrain to Chinese group Yinyi. | | Firms & Funds | | | | | India's KKotak Mahindra, Canada fund to invest $525 mln in stressed assets: Reuters India's Kotak Mahindra Group said on Monday it has signed an agreement with Canada Pension Plan Investment Board (CPPIB) to invest up to $525 million in stressed assets in the country's banking and corporate sectors, Reuters News reported. Navitas Capital targets $52 mln to invest in energy, IT Navitas Capital, a venture capital firm based in Los Angeles, has set out to raise $50 million for its second venture fund, Navitas Capital II LP, according to a filing with the SEC. The firm is also targeting $2 million for Navitas Capital II SG LP, according to a separate filing. The funds have yet to report a first close. | | Human Resources | | | | | Foil joins Kiddar Capital Cheryl Foil has joined Kiddar Capital as a Principal. She will lead Kiddar Capital's newly established technology and innovation venture arm. Foil was previously CTO for SocialSamba. | | Odds & Ends + Hot Links | | | | | PE HUB First Read In First Read, a human finally wins a Go match against AI AlphaGo program, Blackstone is near selling a portfolio of U.S. luxury hotels to the Chinese owners of the Waldorf Astoria just months after buying it for $4 billion and North Korea threatens to wipe out Manhattan. PE HUB Second Opinion To close out your week, Second Opinion has news: GM to buy autonomous-vehicle technology developer Cruise Automation for $1 bln, Ford is looking for a tech exec to be the CEO of its new mobility company, and VC-backed grocery delivery startup Instacart cuts pay for couriers. |
| |
| | | This email was sent by: PE HUB Wire (US), 9 East 38th Street, 11th Floor, New York, NY 10016, USA.
Click here to leave the PE HUB Wire (US) email list or here if you want to leave all Buyouts Insider email lists.
We respect your right to privacy. View our privacy policy.
|
|
|
|
.jpg)
.jpg)
