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PE represents large portion of terminated deals; Hamilton Lane talks AI

Good morning, Hubs!

This is Chris, on for Wire Wednesday.

Interesting research from S&P today: Private equity accounted for 14 terminated deals in the first six months of the year out of 104, totaling about $19.94 billion. Just in the second quarter, PE had six terminated deals, S&P found.

Also, as of June 30, there were five canceled deals with PE backing worth at least $1 billion each, according to the report. The canceled deals, all of which targeted publicly listed companies, had a combined value of just over $20 billion, the report said.

AI

Hamilton Lane is teaming up with fintech startup TIFIN to develop an AI-powered “assistant” for investors that will blend the firm’s private markets data and intelligence with the software company’s technology, writes Rafael Canton on PE Hub today.

PE Hub spoke with Griff Norville, a managing director and the head of technology solutions at Hamilton Lane. Norville outlined how the upcoming product will work and what it is expected to provide for clients.

Iron man

Michael Fisch, CEO of American Securities, talked to Kirk Falconer at Buyouts about how he uses IronMan Triathlon races to relax. "I love spending time with my four grown children. I also enjoy endurance athletics – Ironman Triathlons in particular – although I’m not sure others would consider this relaxing." Read more here on Buyouts.

That’s it for me! Have a great rest of your day. Reach me at cwitkowsky@pei.group or find me on LinkedIn with feedback, tips n’ gossip or book recommendations.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Fundraising has continued to slip overall, with a handful of funds finding their way to final closes, and everyone else struggling to hit their numbers. (Buyouts)

Lexington Partners has surpassed the $15 billion target of its latest flagship fund, raising one of the largest secondaries vehicles ever. (Secondaries Investor)

The first fundraise from Eastwood Forests, a US-based asset manager backed by Sumitomo Forestry, has shown how powerful the carbon story around timberland investments has become, including with Japanese LPs. (Agri Investor)

Mounting ESG scepticism is part of a healthy debate that could help eliminate the scourge of greenwashing once and for all, five industry insiders tell Infrastructure Investor.

EQT commits to net-zero pathways for all control investments by 2040. (New Private Markets)

Accordion has hired Mark Copeland as its first-ever chief commercial officer, to help the consultant drive value creation for its private equity firm clients. (Private Funds CFO)

Clipway, the secondaries firm launched by former Ardian and Coller Capital investment executives, is on track to have raised almost a quarter of the target of its debut fund, Secondaries Investor has learned.

CoinFund, a crypto-focused venture capital firm, closed on $158 million for CoinFund Seed IV Fund LP, beating its $125 million target. (Venture Capital Journal)

Westlake Village BioPartners has raised $450 million for its third fund to incubate and build-early-stage, next-generation biotechnology companies in the Los Angeles region and beyond. (Venture Capital Journal)

"The Securities and Exchange Commission is investigating whether private-equity firm One Equity Partners’ communications with investors about its past and future performance violated rules." (Wall Street Journal)