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NFL quarterback Caleb Williams takes on investing; Ardian finds comfort in parking investments

Hello, PE Hubsters! Rafael Canton here tackling the Tuesday Wire with a slate of PE news and thoughts.

For today, I will start with why 2024 NFL number one overall draft pick Caleb Williams started 888 Midas, a private equity, venture capital and real estate investment firm.

Next, we take a deep dive into Ardian’s pursuit of car parking assets in two recent deals.

Then, PE Hub has some takes on beauty from the Beauty Independent’s Dealmaker Summit in terms of how PE firms invest in a marketing story and how the educated consumer has impacted the beauty industry.

To finish, we have fresh exit by Audax which sold ELM Home & Building Solutions to Great Day Improvements.

More than an athlete

This year’s number one NFL draft pick Caleb Williams will be busy. While on a quest to master the quarterback position, the Chicago Bears rookie will also be looking to grow as an investor. Williams launched 888 Midas, an investment firm that will make private equity, venture capital and real estate deals.

Upgrade to the premium version of the Wire learn about why Williams launched a new firm and what types of investments the firm is looking to make.

Strategic parking

Car parking investments in North America have proven to be a focus for Ardian, writes PE Hub’s Obey Martin Manayiti. The Canadian private equity investor formed Clermont earlier this year with Indigo Group. Clermont is a Canadian joint venture investing in parking assets.

Also, in June Ardian acquired CampusParc, a concessionaire that manages, operates, and maintains the parking facilities at the Ohio State University’s campus.

Subscribe to the premium version of the Wire get a deeper look at Ardian’s parking deals.

Story of beauty

PE firms look to invest in a marketing story when they look at potential targets in the consumer subsector of beauty. But some challenges exist according to conversations at Beauty Independent’s Dealmaker Summit conference on Monday in New York.

Upgrade to the full version of the Wire learn more about some key talking points from the conference.

Audax out

Audax Private Equity announced that it has sold ELM Home & Building Solutions, an East Brunswick, New Jersey-based provider of home and building solutions, to Great Day Improvements. Audax acquired ELM in March 2019 under its sixth flagship fund.

Subscribe to the premium version of the Wire to learn more about the exit.

That’s it from me today. If you have any thoughts, questions or want to chat, please email me at rafael.c@pei.group.

PE Hub will be closed on Wednesday in observance of Juneteenth, and we will not be publishing the Wire newsletter. Michael Schoeck will return with the Wire for you on Thursday.

Cheers,

Rafael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Pritzker Private Capital, founded by heirs to the Pritzker family fortune, is back in the market with a fourth buyout offering. The Chicago firm set a $3 billion target for Pritzker Private Capital IV, according to Plymouth Country Retirement Association documents. (Buyouts)

Permira’s Yi Xiao: Pride is a state of mind. "Knowing that there’s a partner in the firm who makes it clear that this is an important issue and is part of the community himself gives me confidence," said Xiao. An engineer by trade, Xiao, the latest interviewee in PE Hub Europe's series elevating the voices of members of the LGBTQ+ community in private equity, is now a principal in Permira’s Shanghai office. 

Private Equity International asked senior executives from some of private equity’s biggest LPs about what’s on their summer podcast playlist for 2024.

Hamilton Lane has raised its largest fund to date after securing $5.6 billion for its latest secondaries flagship. (Secondaries Investor)

They said it

“The reason why 888 Midas was such a huge idea is because I want to build on my investment interest, not miss opportunities and be allowed to win off the field, while winning on the field. To accomplish this, I realized I needed to form a trusted investment team who knows what I’m about, so I can keep the main thing, the main thing: my goal of building a solid and long-term career with the Bears.”

— Caleb Williams, co-founder at 888 Midas said about creating the investment firm