| GA finds opportunity in health tech, Software as an inflation hedge
Happy Thursday!
I’ve been talking inflation lately with some PE folks, trying to get a handle on whether firms are feeling impacts of rising prices, and if so, how that factors into their deal calculations and existing portfolio monitoring.
Orlando Bravo, co-founder of Thoma Bravo, made an interesting point on a panel yesterday that software companies are “a nearly perfect inflation hedge.”
“Look at the entire software industry, the value these customers are receiving by buying these products is so far higher than the price being charged, that if there’s strong pick up in inflation, these companies should be very easily able to pass on those pricing increases to their customers without creating a problem for those customers,” Bravo said Wednesday on a panel at The Global Boardroom digital conference.
Next-gen: Great piece over on our affiliate publication PEI about the future leaders of private equity. A few names of note: Haide Hong, 36, managing director at Blackstone; Allyson Satin, 35, managing director at Ares Management; Sebastien Siou, 32, senior principal at Whitehorse Liquidity Partners; and Henry Zhang, 35, founding partner at Morningside Capital Management. Read the full piece here on PEI.
That’s it for today! Reach me with thoughts, feedback, tips n’ gossip at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.
Read the full wire commentary on PE Hub...
Also of note (may require subscriptions) Special: Brookfield Asset Management is targeting $5 billion for a special investment fund set up to invest in companies and assets outside the scope of the firm’s flagship pools. Brookfield Special Investments Fund raised $2.4 billion so far. Read it here on Buyouts.
Measure: A Massachusetts Pension Reserves Investment Management Board panel moved to adopt an additional benchmark to better measure the performance of its private equity program. The system wants to use a benchmark to judge the PE program against public markets, as well as another to determine if the system is choosing the right managers. Check it out here.
No-distress: Apollo Global Management’s co-president James Zelter said distressed opportunities, muted by the central bank’s aggressive economic support amid the lock down, won’t be back anytime soon. Read it here on Bloomberg.
PE Deals 
They said it “We are finding opportunities. But the double-digit, mid-teens distressed opportunity is not plentiful today."
James Zelter, co-president and chief investment officer of credit at Apollo Global Management, talks to Bloomberg about distressed investing.
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. 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. |
