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CD&R off to $6B start for Fund X |
| Clayton, Dubilier & Rice has raised roughly $6 billion for its latest private equity fund in barely more than two months, already drawing near the vehicle’s $8.5 billion target, according to Reuters. CD&R reportedly expects to reach a $9.4 billion hard cap on the fund next quarter. Nearing the $10 billion mark would be a significant increase for a firm that’s spent the past decade... |
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| | | 2016 Year in Review: 6 M&A stories that captured our attention |
| Making the case to buy Twitter. An upswing in AI acqui-hires. Salesforce's shopping spree. We’ve steadily ramped up our production of corporate M&A content this year in response to reader appetite. There's much more to come from us next year from an M&A perspective, but until then... Take a look at some of our top posts |
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| | | 2016 Year in Review: 5 cool features added to the PitchBook Platform |
| We're always looking for better ways to serve our customers. In 2016, we continued to hone our obsessive focus on data by investing in new workflow and discovery tools to provide a more enjoyable PitchBook Platform experience. Check out five of our favorite new features |
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| | | | Grading the biggest deals of 2016. [The New York Times] How Founders Advantage Capital is trying to create a new approach to private equity. [Calgary Herald] Another can’t-stop-reading story from The New Yorker on an imminent, deadly wave. [The New Yorker] Under the Donald Trump administration, the next four years could be much friendlier to mega-mergers in tech. [VentureBeat] |
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Since yesterday, the PitchBook Platform added: | 141 Deals | 1199 People | 547 Companies |
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Want to check out the fast risers in the venture world? Business Insider recently used our data to curate a list of 15 US-based startups that didn't exist five years ago but are now worth at least $1 billion. Over the long weekend, The New York Times published a feature on how desperate towns have turned to private equity firms to manage their waterworks, citing our data on active financial infrastructure funds. |
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2008 Vintage US Buyout Funds with Commercial Products Investments |
| Median IRR | | Top Quartile IRR Hurdle Rate | | 1.44x Median TVPI | $2.06B Average Amount Distributed |
| | *IRR: net of fees | 148 Funds in Benchmark » |
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Deals in Play & Announcements |
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KKR eyes $1.3B Hitachi deal |
| Electrical Equipment | Tokyo, Japan | Public-to-Private Buyout |
KKR is in talks to acquire Hitachi Koki (TKO: 6581), the power tools unit of Hitachi (TKO: 6501), in a deal that could be worth more than 150 billion yen (about $1.3 billion), according to a Reuters report. Hitachi is currently the majority shareholder in the publicly traded business, which would be delisted from the Tokyo Stock Exchange in the result of a sale, per Nikkei. |
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Mill City buys Behrens in SBO |
| Metal Containers & Packaging | Winona, MN | Secondary Buyout |
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First Reserve shells out £52M for G4S unit |
| Commercial Services | Newcastle upon Tyne, UK | Buyout |
First Reserve has completed the purchase of G4S Utility Services, a provider of multi-utility metering services in the UK, from G4S for £52 million in cash (about $64.2 million). The business generated £8 million in pre-tax profits in 2015. |
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Thoma Bravo finalizes $2.8B Deltek exit |
| Productivity Software | Herndon, VA | Corporate Acquisition |
Thoma Bravo has completed its previously announced sale of enterprise software provider Deltek to Roper Technologies (NYSE: ROP) for $2.8 billion. Thoma Bravo had acquired the company through a $1.1 billion take-private buyout in 2012. Deltek supplies software and other information services to government contractors, professional services companies and other project-based businesses. |
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| | | | Industrial Supplies and Parts | Marietta, GA | Acquisition |
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ACON nearing $1B mark for fourth fund |
| ACON has raised about $965 million toward a $1.1 billion target for its fourth flagship buyout fund, according to an SEC filing. The firm closed its ACON Equity Partners III on about $750 million in 2013. ACON is a middle-market investor with offices throughout North and South America. |
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| | | Peak Rock raising follow-up fund |
| Peak Rock Capital has set a $720 million target for its second fund, according to an SEC filing. The firm closed its debut vehicle on $700 million in 2013. Peak Rock is a middle-market investor that targets deals between $20 million and $150 million. |
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