|
 | PitchBook Newsletter | | Private Equity Edition |
|
| |
| Powered by the PitchBook Platform. Learn more» | | 564,585 Deals | 35,015 Funds | 22,668 Limited Partners | 28,936 Advisors | |
|
THURSDAY, JUNE 30, 2016  | |
|  | |
|
PE's biggest and busiest in 1H 2016 Our 12 most popular articles of June | In case you missed any of our featured VC, PE or M&A content this month, here's a recap of our most read and shared posts: |
|
Brexit be damned: Cinven hauls in €7B for sixth fund Amid (and in spite of) the market tumult surrounding the U.K.’s vote to leave the EU, Cinven has closed a new Europe-focused investment vehicle—the largest European buyout fund thus far in 2016, according to the PitchBook Platform. The Sixth Cinven Fund hit its hard cap of €7 billion within four months and was oversubscribed by twice its target. That investor confidence, according to Cinven partner Alexandra Hess, is attributable to the firm's track record through "different economic cycles [and] industry and market conditions."
With seven offices across Europe, including two in the U.K., Cinven focuses on transactions that require an equity investment of €100 million or more. The new fund will continue the firm's current strategic diversity, investing across an array of sectors and geographies. Cinven's prior vehicle closed on €5 billion in 2013. |
|
Charles and David Koch are doing plenty with their billions besides funding political campaigns and investing in higher education. The brothers’ Koch Equity Development has also helped fill the lending void left by the regulation increase for banks in the wake of the financial crisis. [Bloomberg]
Columnist Norm Champ takes issue with the SEC’s recent decision to classify returns gleaned from buying and selling portfolio companies as brokerage fees. [WSJ]
Houlihan Lokey managing director Jean Stack has seen PE take an increased interest in mid-tier companies working in the defense and intelligence sectors. [National Defense Magazine]
According to the South African Venture Capital and Private Equity Association, PE fund managers raised more money in the country during 2015 than ever before. [Tech Central] |
|
2008 Vintage U.S. Buyout Funds with B2B Investments | | Median IRR: | 14.07% | | Top Quartile IRR Hurdle Rate: | 21.25% | | Median TVPI: | 1.5x | | Average Amount Distributed: | $1.61 billion |
| | | Select Top Performers (based on net IRR) | | |
| Benchmark, Peer Group & Returns Data on 20,000 Funds
PitchBook, setting a higher bar for performance benchmarking |
|
Apollo buffs Diamond Resorts with $2.2B | Apollo Global Management has agreed to acquire Diamond Resorts (NYSE: DRII) for $30.25 per share in cash, a total of about $2.2 billion and a 26% premium over the company’s closing share price on June 28. Diamond Resorts operates more than 420 vacation destinations in over 35 countries around the globe. | |
|
General Atlantic backs Insurity | General Atlantic has made a strategic growth investment in Insurity, a provider of insurance processing software, data integration and analytics. General Atlantic joins existing Insurity investors TA Associates and Genstar Capital. | Vertical Market Software Hartford, CT | | |
|
|
H.I.G.’s Ship Supply adds R.S. Stern | Founded in 1870, R.S. Stern is a full-service ship chandler that offers provisions, cabin equipment, bonded stores and deck & engine supplies to clients across the U.S. Mid-Atlantic region. Ship Supply International, a port logistics business, has been backed by H.I.G. Capital since November. | |
|
Blackstone partners with McKesson on healthcare venture | Blackstone portfolio company Change Healthcare has agreed to merge its operations with the technology segment of McKesson (NYSE: MCK), forming a new company with $3.4 billion in combined revenues for the fiscal year ended March 31. McKesson will own about 70% of the new entity, while Change Healthcare’s existing stockholders, including both Blackstone and Hellman & Friedman, will control the remaining 30%. | Healthcare Technology Systems Nashville, TN | | Select Existing Investors |
|
|
CD&R in talks to buy French furniture retailer | Clayton, Dubilier & Rice has entered exclusive talks to acquire BUT in an equal partnership with a holding company of XXXLutz Group, a European furniture retailer. BUT is a home equipment retailer with more than 300 stores in France. | Specialty Retail Émerainville, France | | |
|
|
Carlyle said to back German clinic chain | The Carlyle Group has purchased a minority stake in Schön Klinik in a deal that values the family-owned chain of clinics at about €1.5 billion, according to a Reuters report. | Inpatient Services Prien am Chiemsee, Germany | | |
|
|
Silverfleet to sell Cimbria for €310M | Silverfleet Capital has agreed to offload Cimbria, a manufacturer of equipment and processing lines for seed and grain, to AGCO (NYSE: AGCO). Silverfleet has backed Cimbria since acquiring the company for €137 million during 2013. | Machinery Thisted, Denmark | | |
|
|
Ardian to exit Laboratoires Anios, raises €1B for new deals | Ardian has entered exclusive negotiations to sell Laboratoires Anios to Ecolab. Founded in 1898, Laboratoires Anios offers disinfection solutions to the healthcare sector. Ardian has also closed its Expansion Fund IV on €1 billion, twice the size of its predecessor. The vehicle will make both minority and majority investments in France, Germany, Italy, Belgium and Austria. | |
|
TorQuest closes Fund IV on hard cap | TorQuest Partners has announced the final closing of its Fund IV on C$925 million, exceeding the vehicle’s target of C$750 million. | |
|
|
| The best tool for private
equity professionals to: | |
|
Want to learn more? Contact our team of private equity specialists. US +1 (206) 623-1986 UK +44 (0)207-190-9809 demo@pitchbook.com |
|
|
