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The Wire

Sept. 27, 2021

Inflation fears ramp up, Ares agrees to acquire The Lockwood Group, Softbank leads $122m funding round in DICE

Happy Monday! 

In the news this morning, inflation fears ramp up amid shortages, including a looming energy crisis in Europe. There’s not enough fuel to meet resurging demand … 

Also, Ares Management agreed to acquire The Lockwood Group, which comprises multiple agencies specializing in medical communications, writes Sarah Pringle on PE Hub today. The company works with clients in pharmaceutical, biotech and medical device industries. 

And, Paul Van Hook, co-head of Credit Suisse’s fledgling capital solutions group, is leaving the bank. The capital solutions group, formed last year, combined the bank’s GP-led secondary advisory services and its capital sourcing work for direct and co-investments. 

That’s it for me! Have a great start to the week. Reach me with tips n’ gossip, feedback or book recommendations (I’m  just finishing up a second reading of Hannah Arendt’s "The Origins of Totalitarianism", which doesn’t make for the most pleasant reading experience) at cwitkowsky@buyoutsinsider.com or find me on LinkedIn. 

Read the full wire commentary on PE Hub...

Also of note (may require subscriptions)

Hike: Virginia Retirement System is hiking its allocation for FY22 to 14 percent from 13 percent, part of a trend of large public systems looking to increase their exposure to the asset class. The system’s private equity return, while slightly underperforming its benchmark, was strong as of June 30, 2021 at 54.1 percent. Read more here on Buyouts.

SPAC: Gores Guggenheim, a SPAC formed by Gores Group and Guggenheim Capital, agreed to merge with Polestar Performance, a global electric performance car company. The transaction implies an enterprise value of about $20 billion. Read more here on PE Hub.