| PE-backed software companies Precisely and Therapy Brands evaluate sales, Apollo makes preferred investment in US Acute Care
Happy Tuesday!
Big tech scoop from our very own Milana Vinn today. Centerbridge Partners and Clearlake Capital are exploring a sale of Precisely that could ultimately value the infrastructure software company above $3.5 billion, sources familiar with the process told PE Hub. Read her full story here.
In other processes to watch, Therapy Brands, whose collection of technology solutions aims to support the growing behavioral health industry, is evaluating a sale, PE Hub has learned. Lightyear Capital and Oak HC/FT made a majority investment in the business less than three years ago. Finally, Apollo Global Management has committed to invest up to $470 million of preferred equity in US Acute Care, a few weeks after PE Hub wrote the emergency medical staffing business was seeking...
Read the full wire commentary on PE Hub.
That’s it for today. As always, hit me up with feedback, gossip and tips or whatever at springle@buyoutsinsider.com or find me on LinkedIn.
Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards. Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian. If you have additional questions, email Private Equity Editor Chris Witkowsky at cwitkowsky@buyoutsinsider.com.
Also of note (may require subscriptions) Secondaries push: Despite being a bit overweight to private equity, Oregon State Treasury staff wants to maintain a steady commitment pace for its largest retirement fund and balance the portfolio through a burgeoning secondaries and co-investment program. Staff is confident these efforts can fix OPERF’s PE portfolio, which is facing some apparent longer-term performance issues, Buyouts writes. Read more here.
Success-based: Compensation at private equity giant KKR will become more “success-based” beginning this year, Private Equity International writes. Details of the firm’s plans were communicated by chief financial officer Robert Lewin on a Tuesday earnings call. Read it here on PEI.
ESG Driven: Colin Kaepernick is leading a group taking a SPAC company public, as the former San Francisco 49ers quarterback turned activist tries to bring his social justice causes to the booming SPAC industry, writes the Wall Street Journal. The blank check vehicle will seek to raise up to $287.5 million in an IPO, a Tuesday regulatory filing showed. Read it here on WSJ.
PE Deals 
They said it “For years, we have seen good opportunities that did not fit in the flagship fund because the investment was not for control. We had a series of great opportunities that we had to turn down.” New Mountain founder and chief executive Steven Klinsky tells Private Equity International why the private equity firm created a non-control PE fund.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. 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. 
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