H.I.G. agrees to acquire RBmedia from KKR; unrealized value in PE portfolios at all-time high

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H.I.G. agrees to acquire RBmedia from KKR; unrealized value in PE portfolios at all-time high

Morning Hubsters!
This is Chris, on for Wire Wednesday.
Audio

Back in March, we reported that KKR was prepping its company RBmedia, a publisher of audio books, for a sale, seeking up to $2 billion. That process has wrapped up, according to the firm, which announced this morning KKR sold the company to H.I.G. Capital.
Exits

According to Bain & Co., buyout-backed exits fell to $131 billion over the first half, a 65 percent decline from the same period a year ago, according to Bain & Co’s report. Exit value is tracking down 54 percent and the count is off 30 percent compared with 2022, the report said. The unrealized value sitting in buyout funds has set an all-time record, at around $2.8 trillion, Bain & Co found. Read more here on Buyouts.
First-timer

Bansk Group, formed in 2019 for investments in branded consumer packaged goods companies, closed its debut fund on $800 million. The firm, which launched fundraising in 2021, has deployed more than half the fund across four investments. Read more here on Buyouts.
That’s it for me! Have a great rest of your Wednesday. Hit me up with feedback, tips n’ gossip or book recommendations at cwitkowsky@pei.group or find me on LinkedIn.

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