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The Wire Aug. 4, 2021
GHO Capital continues North America push with ClearView Healthcare Partners, Insight's Achieve3000 enters 2nd round of sale process Morning, everyone!
As the Delta variant quickly spreads and investment banks, PE firms and their portfolio companies continue to discuss return to office plans, what are folks doing to increase vaccination rates among employees?
Asset manager Vanguard Group is incentivizing employees that show proof of vaccine with $1000 payments, Bloomberg wrote yesterday. BlackRock is prohibiting unvaccinated employees from entering US offices starting in July, it said. On the private equity front, MiddleGround Capital is offering a $250 gift card to all fully vaccinated employees at its firm and portfolio companies. How else are PE firms supporting the vaccine drive? We want to know! Write to PE Hub's Karishma Vanjani with your plans.
Now, to the news... GHO Capital, which just amassed the largest-ever healthcare-exclusive PE fund in Europe as it puts feet on the ground in the US, has agreed to acquire ClearView Healthcare Partners, according to four sources familiar with the matter. ClearView, which can be likened to a global strategy consulting firm such as McKinsey & Co or LEK Consulting, but exclusively for the life sciences industry, was previously backed by RLH Equity. For financials and more, check out my report on PE Hub. Elsewhere, Insight Partners-backed Achieve3000 has entered the second round of its sale process, sources familiar with the matter told PE Hub’s Milana Vinn. Macquarie is advising the EdTech business on the process.
Read the full wire commentary on PE Hub...
That's it for today! Have a great week ahead, and as always, write to me at springle@buyoutsinsider.com with any comments, tips or feedback!
Also of note (may require subscriptions) Geography matters: Significant overexposure in tech assets in East Asia and Northern Europe drove outperformance last year, data from eFront shows. The North American market generated 21.8 percent returns for investors, while Western Europe had an average return of 18.5 percent and Oceania 19.5 percent. Read it on Private Equity International.
Enforcement: The Federal Trade Commission has begun to warn some companies awaiting merger approval that their deals face further investigation and may be challenged even after an initial review period expires, writes Bloomberg. Read it here.
Hollywood: Reese Witherspoon’s media business, Hello Sunshine, is selling itself to a firm backed by private-equity giant Blackstone, the companies said, part of a plan to build an independent entertainment company for Hollywood’s streaming era. People familiar with the matter told Wall Street Journal it values Ms. Witherspoon’s company, whose production slate has included programming such as the HBO drama “Big Little Lies,” at about $900 million. Read it on WSJ.
PE Deals
They said it “We have a fundamental view that growth [companies] will always be highly valued; people always pay for innovation.” Matt Hobart, co-managing partner of TPG Growth talked me to about the firm's growth fund strategy in an interview for Buyouts.
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. 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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