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The Wire June 3, 2021
Francisco Partners, Elliott Management prep sale of SonicWall, Private equity has no map to navigate sustained inflation, Diversis Capital talks to LPs about Fund II
Happy Thursday!
We have news today that Francisco Partners and Elliott Management are prepping a sale of SonicWall. The firms hired Morgan Stanley to provide financial advice on the process. Read it here.
Meanwhile, as first-time funds and emerging managers increasingly test the busy fundraising markets, Diversis Capital, formed by former Gores Group executives, is talking to LPs about its second fund. Read it here.
That’s it for me! Have a great rest of your Thursday. Hit me up with tips n’ gossip, feedback, commentary or The Drama at cwitkowsky@buyoutsinsider.com, or find me on LinkedIn.
Also of note (may require subscriptions) Moving on: Eaton Partners lost all senior staff in mainland China, as Xiaoyan Shu and Haw Rer Au Yong left the firm earlier this year. Shu joined GLP’s Hidden Hill Capital as an IR executive in March. It’s not clear where Au Yong is heading. Check it out on PEI.
Closing: Blue Torch Capital, formed by Cerberus Capital veteran Kevin Genda, closed its second Credit Opportunities Fund on $1.7 billion. The pool, launched in March 2020, beat its original $1 billion target. Read it here on Private Debt Investor.
Water: BASF, a German industrial conglomerate, and Clayton Dubilier & Rice, are exploring exit options for water treatment specialist Solenis, writes Bloomberg. The company and firm are considering possibilities including an IPO or sale of the company. Read it here.
PE Deals
They said it “Institutional investors have largely figured out by virtue of their 2008 experiences that you can’t just hit pause. And you can’t hit pause for a long period of time, because that means you miss out on vintages, you have lumpy deployment or in some cases you get massively outside of what your targeted parameters are.” Ivan Zinn, founding partner and chief investment officer of private debt firm Atalaya Capital Management, talks to Buyouts about fundraising.
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 MOREPlease 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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