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Nordic, Vista among PE firms investing in senior healthcare; AI is driving a lot of deals

Good morning dealmakers, thank goodness it’s Friday.

It’s Obey Martin Manayitiwith the US edition of the Wire from the New York newsroom, back from vacation. A big shoutout to my colleague Nina Lindholm, who held the fort on Fridays in August while I was off.

We have a variety of themes this morning.

The pandemic and labor shortages are some of the challenges that laid bare problem areas of senior healthcare. We are opening with a look at five recent PE deals involving senior healthcare. Technology plays a significant role in some of them.

We also have news today thatAmulet Capital Partners acquireda reproductive services specialist.

Next, we have news thatSchneider Geospatial, which is backed by Align Capital Partners, acquired Systems Development Group, a US-based provider of geo-centric property record and analysis solutions for local governments.

We’ll conclude with some nuggets about dealmaking momentum from the Cherry Bekaert Private Equity Advisory’s Private Equity Midyear 2024 report.   

Senior healthcare

From dementia care to residential living facilities, PE firms are seeking out opportunities across different subsectors to invest in senior healthcare, as the geriatric demographic increases, writes my colleague John R Fischer.

Opportunities even exist in MedTech, with mobile-based communication technologies and AI-enabled sensors facilitating smoother care co-ordination and communication and providing support amid the global care staff shortage.

John rounded up these five deals on both sides of the Atlantic and premium subscribers have access to all the deals.

IVF treatment

Amulet Capital Partners this morningannounced the acquisition of Genetics & IVF Institute, a Fairfax, Virginia-based provider of reproductive tissue banking and related reproductive technology services.

Upgrade to the premium version of the Wire to learn more.

Property record and analysis

Earlier today, Align Capital Partners-backed Schneider Geospatial announced the acquisition of Systems Development Group, a provider of geo-centric property record and analysis services for local governments.

Premium subscribers to the Wire have access to more.

AI drives dealmaking

Earlier this week, Cherry Bekaert Private Equity Advisory released its Private Equity Midyear 2024 report focusing on the US. Highlights include:

• LPs and GPs increasingly utilize the secondary market to manage liquidity and exit timelines.

• Dry powder levels remain elevated as bid-ask spreads continue to narrow.

Upgrade to the premium version of the Wire to learn more, including how AI is playing a huge role in dealmaking.

PE Hub has written a lot about this AI powered investing momentum. My colleague Rafael Canton recently covered data center several deals driven by AI.

That’s it for today. You can always reach me at obey.m@pei.group for news tips.

On MondayCraig McGlashanwill bring you the Europe edition, andMK Flynnwill bring you the US edition. 

Have a nice weekend,

Obey

Exciting news

PE Hub and PE Hub Europe have merged into a single, unified PE Hub platform, as part of our commitment to providing you with a richer, more comprehensive view of the private equity deals landscape. It’s a win-win for our whole audience: PE Hub readers gain access to our in-depth coverage of European PE dealmaking, and PE Hub Europe readers gain access to our in-depth coverage of North American PE dealmaking. simply log in to the PE Hub platform, using your PE Hub or PE Hub Europe account email address, to access the latest dealmaking insights, key transactions, and expert analysis from across both regions.

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Reach out to subscriptions@pei.group to book a no-obligation tour of PE Hub’s newly expanded deals coverage.

Read the full Wire commentary on PE Hub ...

Also of note (may require subscriptions)

Oregon State Treasury signaled it would be looking for solutions to its overweight private equity allocation amid performance that is trailing public equities. (Buyouts)

Is the need for impact data hurting emerging markets? It is often harder to collect data in the regions that need impact capital the most. (New Private Markets)

The rise of LP continuation fund investors: While there is certainly a host of alignment issues LPs would like to see resolved, a number of investors have adjusted their policies to invest in continuation vehicles. (Secondaries Investor)

Since publishing its Guide to VC Secondaries Buyers in July, the number of funds on Venture Capital Journal's list has grown from 12 to 18. And the amount of secondaries capital those would-be buyers have available has swollen from $52 billion to nearly $66 billion.

Growth equity fund manager Siddhi Capital has launched a new venture capital vehicle, according to a Securities and Exchange Commission filing. Siddhi FoodTech Scout Fund I is the first in a new line of investment funds that will back agtech start-ups in the food value chain. A fundraising target was not specified in the SEC filing. (Agri Investor)

Nebraska Investment Council’s investment adviser has advised the pension fund to take the full cash option in a continuation fund transaction run by TJC, formerly known as The Jordan Company. (Secondaries Investor)

PruVen Capital has closed on $378 million for its second fund, which will target financial services and enterprise-focused start-ups. (Venture Capital Journal)

They said it

“One of the most significant trends shaping the tech M&A landscape in 2024 is the increasing prominence of, and demand for, artificial intelligence (AI) and AI-based solutions. This demand has not only driven innovation but has fueled M&A activity. The AI sector deals increased by 433% in Q1 2024 compared to the previous quarter, and 260% compared to Q1 2023.”

— Cherry Bekaert Private Equity Advisory’s Private Equity Midyear 2024 report