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PE chases opportunities in healthcare tech, Centre Partners completes two-asset GP-led

Morning Hubsters!

This is Chris, on for Wire Wednesday.

How are things looking? Fundraising remains challenging, but we’re picking up a lot of chatter around deals. And GPs are in conversations about various paths to liquidity, to try and deliver proceeds back to increasingly capital-starved LPs.

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Health tech

PE Hub Europe spoke with private equity professionals about health tech valuations, growth drivers and what sub-sectors are attracting attention. The need for digitization and cost efficiency is driving growth, as well as “the aging population and rising healthcare demand,” according to Anders Petersson, managing partner, healthcare sector lead at IK Partners.

Mid-market
I’ve noticed several mid-market GP-led continuation fund deals reaching final close recently. One of those was Centre Partners, which closed a deal that moved two assets – IMA Group and Sun Orchard – into a continuation fund for more time and capital to grow the businesses. Read more here on Buyouts.

Integration

As UBS works on integrating various Credit Suisse platforms as part of its rescue acquisition, the bank must sort through a load of fundraising mandates led by Credit Suisse’s large private fund group. The resolution of what happens with those fundraising mandates could prove complicated, several GP and placement agent sources told Buyouts. Read more here for the details.

That’s it for me! Have a great rest of the day. Hit me up with tips n’ gossip, feedback or book recommendations at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

School Employees Retirement System of Ohio will increase its target allocation to private equity to 14 percent for FY 2024. (Buyouts)

New Jersey Division of Investment announced it hired Dana Johns as its head of private equity. (Buyouts)

The sovereign debt restructuring facility seems capable of solving numerous challenges simultaneously but has some way to go before it becomes an easily replicable way of protecting natural capital. (Agri Investor)

Real estate investor Arch Street Capital Advisors is launching its first infrastructure strategy. Announced earlier this month, the firm is planning on sourcing sale-leasebacks on a deal-by-deal basis. (Infrastructure Investor)

GP-leds are of particular interest to the mainstream secondaries players, Tom Jorgensen, a managing director at North Sky Capital, said in a video interview at the Impact Investor Global Summit. (New Private Markets)

London-headquartered manager Newcore Capital, which focuses exclusively on social infrastructure assets in the UK, has reached a final close on £190 million ($236 million; €219 million) for Newcore Strategic Situations V, Private Equity Real Estate can reveal.

Mercury Capital Advisors‘ head of secondaries has been appointed to the firm’s leadership team amid a raft of changes including the departure of its co-founder. (Secondaries Investor)

After heading to the secondaries market with one of its portfolio companies over a year ago, One Equity Partners disclosed a $1 billion continuation fund this month for two of its portfolio companies. (Secondaries Investor)