| Vaccine breakthrough sparks hopes of economic recovery
On Monday, BioNTech and Pfizer announced that their Covid-19 vaccine-in-the-making showed a 90 per cent efficiency rate in a late stage clinical trial, which sent share prices soaring around the world on the back of the scientific breakthrough.
The news sparked hope of economic recovery and of humanity being able to return to something resembling normality next year, sending markets soaring across the globe. The news saw stock markets reach record levels starting in the Asia-Pacific region, with Japan's Nikkei reaching its highest level since 1991.
While the vaccine has yet to undergo formal approval, Pfizer said the interim data provides greater confidence in its vaccine candidate and brings the company a step closer to delivering a vaccine.
TPG Capital, the private equity platform of global alternative asset firm TPG, and TA Associates agreed to acquire portfolio and work management firm Planview in a deal worth USD1.6 billion, it was announced this week. Planview’s existing majority shareholder Thoma Bravo will retain a minority interest in the company following the transaction.
Data from Preqin revealed that private equity assets under management will increase from USD 4.41 trillion in 2020 to USD9.11 trillion in 2025 – and with a CAGR of 15.6 per cent, it will be the fastest-growing asset class over the next five years.
At the end of this year, alternative assets firms will hold USD10.74 trillion in assets under management overall, according to the first part of Preqin’s Future of Alternatives 2025 report.
Israeli VC firm Peregrine Ventures launched its fifth fund and first growth fund, Peregrine Growth, focused on late stage life science companies that are on the verge of an IPO or M&A deal. The fund will invest USD20 to USD30 million per round in sectors including medical devices, pharma and digital health.
Meanwhile, alternative investment firm Värde Partners held a final close of The Värde Dislocation Fund with more than USD1.6 billion of commitments. Raised entirely with no in-person meetings, over half of commitments to the fund come from new investors.
“The strong demand for this strategy from a diverse, global investor base underscores expectations for a deep credit cycle,” president Jon Fox commented. “We took innovative steps to engage investors through virtual platforms and were able to exceed our target in just five months.”
Also this week, data from London & Partners and Dealroom.co showed that VC investment into London’s tech companies has increased by nearly eight times between 2015 and 2020, while the city has attracted growing amounts of VC capital from North American investors in recent years.
London has added three new impact unicorns to its list this year; Octopus Energy, Arrival and Gousto, which takes London’s impact unicorns total up to four, including Babylon Health.
Karin Wasteson
Editor, Private Equity Wire
|
