| GTCR co-CEOs see opportunities in uncertain times; KKR acquires majority stake of bottler Refresco Good morning, Hubsters. MK Flynn here. After a relaxing long weekend, we’re back with the Wire. Talk about two(s) for Tuesday. Here’s hoping 2/22/22 brings good luck!
This morning, my Q&A series with high-profile private equity pros continues, with insights from Dean Mihas and Collin Roche, co-CEOs and managing directors at GTCR, who discuss why they see opportunities in uncertain times. Read the interview here.
Thirst quenching. KKR announced this morning that it has agreed to acquire a majority stake in Refresco, one of the largest independent beverage contract manufacturers in the world.
Growth equity. Blackstone is not wasting any time ramping up its growth platform,” writes Chris. “The firm, which is just starting to raise what could become the largest-ever private equity fund, also is targeting $7 billion to $8 billion for its second growth fund, according to sources and a document from the Minnesota State Board of Investment.” Read the story to learn more details about Blackstone growth fund strategy - and to learn which other big shops have expanded into growth investing.
Healthcare advisors. Former Senate Majority Leader Bill Frist; Molly Joseph, former CEO of UnitedHealthcare Global; and Rolf Classon, former chairman of the executive committee of Bayer HealthCare AG and others have joined a new healthcare advisory council at Goldman Sachs Asset Management.
That's what's going on in PE for now.
Chris writes the Wire on Wednesdays, so I'll see you on Thursday.
Cheers, MK
Read the full wire commentary on PE Hub ...
Also of note (may require subscriptions) Local TV giant Tegna for $5.4 billion sold to private equity firms in mega deal. Standard General and Apollo will pay $24 share for the company, which owns 64 stations in 51 markets and will become the nation’s "largest minority-owned, woman-led broadcast group." (The Hollywood Reporter)
Women and minority-owned capital managers claimed a larger portion of the private markets landscape than ever before in 2021, according to a report by diverse-owned fund of funds manager Fairview Capital. (Venture Capital Journal)
Private equity’s summer intern hiring scrum heats up. Competition and pay for summer interns has ratcheted up as some firms aim to return to in-person work this summer. (WSJ Pro)
PE Deals 
They said it “Based on the way 2021 ended and the way 2022 has started, it’s clear that we have shifted to a more uncertain environment, and it may mean the topping of valuations after a very long cycle.” — Collin Roche, co-CEO, GTCR
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