Good morning dealmakers, thank goodness it’s Friday. It’s Obey Martin Manayiti here with the newsletter, as the final month of the year begins. Today we are highlighting private equity’s interest in the manufacture of semiconductors. Increasing demand for semiconductors in this era of AI and cloud computing, plus tailwinds from onshoring trends and government funding are all whetting PE’s appetite for the sector. I spoke with Steve Cook, LFM Capital’s executive managing director, whose firm invested recently in SisTech Manufacturing, a producer of printed circuit board assemblies (PCBA). Next up, bankrupt pharmacy operator Rite Aid has postponed an auction for its pharmacy benefit manager (PBM) business, Elixir Rx Solutions. PE firms may be among the bidders. And finally, I’ve got a preview of an exciting event next Spring that you won’t want to miss. Semiconductors Tailwinds from onshoring trends for electronics manufacturing in the US attracted LFM Capital to invest in SisTech Manufacturing, Steve Cook, LFM’s executive managing director, told me earlier this week. Upgrade to the premium version of the Wire to read the interview. Earlier, PE Hub rounded up these four dealson private equity firms investing in the semiconductor space, targeting the aerospace and defense markets. Still in the works Bankrupt pharmacy operator Rite Aid has postponed an auction for its pharmacy benefit manager (PBM) business, Elixir Rx Solutions, writes my colleague Michael Schoeck. Originally scheduled for November 20, the auction has been delayed until December 21, the same date as an auction for Rite Aid’s retail stores. As Michael reported previously, private equity firms may be among the bidders. Premium subscribers will learn all about the auction process, including potential PE buyers. Save the date Before signing off, I want to highlight something you should get in your calendars. NEXUS 2024, hosted by PE Hub and Private Equity International will bring unmatched market insight and LP-GP connections to life in Orlando on March 6-8. The agenda has been created in conjunction with PEI Group’s editors, ILPA and our LP advisory board. It features topics front of mind for CIOs from CalSTRS, Massachusetts Pension Reserves Investment Management, Maryland State Retirement and Pension System, New Mexico State Investment Council and more. Keynote speakers include Howard Marks, co-founder and co-chairman of Oaktree Capital Management, Jonathan Gray, president and COO of Blackstone, and David M Rubenstein, co-founder and co-chairman of Carlyle Group. We are talking three unmissable days of one-of-a-kind agenda content covering opportunities across private equity dealmaking in North America and wider private equity markets. Backed by the most trusted brands in private markets, you will leave the event with actionable advice for how to move your firm ahead of the pack. Early bird pricing for NEXUS 2024 expires Friday, 8 December. PE Hub subscribers save over $1,800 off their registration and can bring their colleagues at the same rate. For a preview of the types of discussions at NEXUS 2024, watch PE Hub editor-in-chief Mary Kathleen (MK) Flynn’s webinar with Michael Chang, partner at BC Partners, about bringing in Apollo Global Management as a co-investor in PetSmart. That’s it for this week. MK will be back with the newsletter on Monday. Have a nice weekend, Obey Read the full wire commentary on PE Hub ... | 