| Clearlake runs secondaries deal for Symplr, TPG names Todd Sisitsky as president, Permira, Warburg-backed Clearwater makes public debut Apologies for the delay, hubsters. Here's your daily rundown of PE deal news.
Happy Friday!
If any healthcare readers out there are heading to the Healthcare Innovation and Investment conference in Chicago next week, hit me up, I'll be there!
Saga: A big healthcare technology company that I’ve written about on more than a few occasions is now in the midst of a single-asset secondaries deal, writes my colleague Chris Witkowsky. I’m talking about the Clearlake Capital-backed healthcare governance, risk and compliance (GRC) software giant, Symplr.
The secondaries process comes after Symplr returned to market earlier this year (after a 2020 process was shelved), with Evercore, Goldman Sachs and William Blair engaged to explore transactions including a stake sale, PE Hub wrote in June. Ultimately, Charlesbank made a minority investment in Symplr in a deal that valued the company in the range of $3.3 billion to $3.5 billion, a source said. Now, Clearlake is on track to soon... Read Chris's full report for all the deets.
And... Here's one company getting public reception. It was less than a year ago that an investor group including Permira, Warburg Pincus, among others, joined WCAS as an investor in Clearwater Analytics, a SaaS provider of automated investment accounting and analytics. The company this morning joined the public markets, pricing above its anticipated range at $18 a share, raising $540 million.
Elsewhere, TPG announced a series of notable promotions as it reportedly readies for an IPO, including the appointment of veteran healthcare investor Todd B. Sisitsky as president of the firm. Read PE Hub’s brief on the news.
That's it for me! Have a great weekend everybody, and as always, write to me at springle@buyoutsinsider.com with any feedback, tips or just to say hello!
Read the full wire commentary on PE Hub...
Also of note (may require subscriptions) Mega: Veritas Capital and hedge fund Elliott Investment Management are exploring options for Athenahealth, including a sale or initial public offering, Bloomberg News reported on Wednesday, citing people familiar with the matter. The sellers hope to produce a deal valued north of $20 billion in a potential transaction, the report said. Read it on Bloomberg.
Headwinds: The list of challenges bearing down on the private equity industry, as enumerated by panelists at the CFOs & COOs Fall Forum on Wednesday, was prodigious. Perhaps chief among them are the prospects of successful political and regulatory challenges to the industry’s model. Read it on Private Funds CFO.
For sale: Keplr Vision, a private-equity-owned business that provides operational support to optometry practices across the U.S., has been exploring options including a sale, WSJ Pro writes, citing people familiar with the matter. Backed by Toronto-based private-equity firm Imperial Capital Group Ltd., the Bloomington, Ill., company has been working with investment bank Houlihan Lokey Inc., the people said. Read it on WSJ.
PE Deals 
They said it
“We are concerned about the misaligned incentives between SPACs’ creators and early investors on the one hand, and retail investors on the other.”
Four Senate Democrats sent letters to the creators of six Special Purpose Acquisition Companies (SPACs) on Wednesday, writes The Hill.
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. 
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. |
