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Greenhouse operator Windset Farms fields PE interest; One Equity reaps 3.5x return on CDI exit

Morning Hubs!

This is Chris, on for Wire Wednesday.

What’s been going on all week? Rumblings of good things happening in the M&A market, but fundraising remains sluggish, though a breaking first-time fund close shows that capital is out there.

• Windset Farms is reviewing buyout interest from PE suitors

• One Equity’s growth plan resulted in a 3.5x return for CDI

• First-timer Coalesce Capital closes debut fund on $900m

Interest

Windset Farms, a greenhouse operator based in Canada, is reviewing buyout interest from private equity firms, writes Michael Schoeck on PE Hub today.

Learn more at the premium version of the Wire.

Exit

One Equity Partners completed the sale of Computer Design and Integration, an IT services company, earlier this month, the culmination of a growth plan that resulted in the firm making 3.5x its investment, writes Rafael Canton on PE Hub.

Read more about the deal by subscribing to the premium version of the Wire.

Another exit

Gryphon Investors agreed to sell Hepaco, which provides emergency response and environmental services, to Clean Harbors in a deal valued at about $400 million, the firm announced.

First-timer

Coalesce Capital, launched last year by ex- Warburg Pincus dealmaker Stephanie Geveda, closed its debut fund on $900 million, beating its $750 million target. Read more here at Buyouts.

That’s it for me! Have a great rest of your Wednesday. Hit me up with tips n’ gossip, feedback or book recommendations at christopher.w@ pei.group or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Sycamore Partners went through a drastic change in 2022, when one of its founding partners, Peter Morrow, departed, leaving uncertainty about the future direction of the consumer and retail investment shop. But fast forward to this year, and Sycamore, led by its founder Stefan Kaluzny, is gearing up to launch its fourth flagship fund into what is widely considered one of the most challenging markets for raising a private equity fund. (Buyouts)

Fundraising for unlisted agri-food and forestry vehicles stabilized in 2023 as the market took $8 billion during the calendar year, up from $5.9 billion in 2022, according to Agri Investor data.

Brookfield’s second transition fund, which on Monday reached a $10bn first close, has a ‘robust pipeline’ and could invest in sub-sectors BGTF I hasn’t, Jehangir Vevaina, managing partner in Brookfield’s renewable power & transition group, tells Infrastructure Investor.

The private wealth channel will offer a more “material contribution” to KKR’s balance sheet from 2026 onwards, according to Rob Lewin, chief financial officer of the firm. (Priavte Equity International)

Spotting the signs of the transition tailwinds: Initial overselling shouldn’t shadow what will be a solid delivery down the line for offshore wind, energy islands and green hydrogen. (Infrastructure Investor)

Hamilton Lane expects to soon hold the final close for its latest flagship secondaries fund, just over two years since the firm launched what could be its latest such vehicle. (Secondaries Investor)

Boston-based One Way launched the Pathfinder Collective last April to give immigrant founders support from other immigrant founders who have built successful companies. The program has grown to 25 advisers, including LinkedIn co-founder Eric Ly, who’s now the CEO at KarmaCheck, Slack co-founder Cal Henderson, Noom co-founder Saeju Jeong and Rappi co-founder Juan Pablo Ortega. (Venture Capital Journal)

Someone forgot to tell Sequoia Capital about the fundraising drought. (Venture Capital Journal)