| | | Lightyear Capital forms fintech platform ProfitSolv, CDPQ co-invests with EQT in elderly care provider Colisée, BofA’s $2bn bond to fight inequality includes private equity focus | | | | Friday, September 25, 2020 | | | | | Happy Friday!
It's been a busy week. One thing we've been looking into is the rise of SPACs and how GPs who are still raising traditional PE funds avoid conflicts with fund LPs.
I've heard from a few LPs that have concerns about potential conflicts around whether GPs are leveraging firm resources to find and execute SPAC deals without benefitting the funds. As well, they had questions about potential competition between the SPAC and the funds for the deal.
This does not seem to be a widespread concern among LPs, or it's not been fully fleshed out yet (that's where I come in!) If you have some thoughts, hit me up at cwitkowsky@buyoutsinsider.com. |
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| | | Top Scoops | | | | Lightyear Capital established a platform called ProfitSolv, which will acquire integrated billing, payments and software services for legal, accounting and other professional services firms. ProfitSolv made three acquisitions: Rocket Matter, TimeSolv and ImagineTime. Read more here on PE Hub. |
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| | Bank of America's $2 billion bond float to invest in minority-owned businesses and financial institutions will include investments in private equity and venture funds that back minority-owned companies. It's not clear if the investments would be in the form of direct investments alongside GPs, or passive stakes in PE and venture funds. Read more here on Buyouts.
Have a great weekend! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.
HOUSEKEEPING: Deadline extension! Invitation to Perspectives 2021
In its ninth year, Perspectives is Buyouts's annual study of how institutional investors will approach private equity over the coming year. If you are an institutional investor, your participation in the study is greatly appreciated.
CLICK HERE TO PARTICIPATE. Deadline to participate: 03 October, 2020
Participating takes less than 10 minutes (I promise!) and in return you will be provided with a complimentary copy of the full results of the study. A $5 donation to UNICEF will be made for every completed set of responses, with your answers remaining strictly anonymous. For any questions, please email Nicole Douglas, Head of Investor Research: nicole.d@peimedia.com | | |
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