Morning Hubs! This is Chris, on for Wire Wednesday.
Bevs
Ronin Equity Partners is on the hunt for add-ons after it formed Lotus Beverage Alliance from the merger of six US craft beverage equipment providers in April, writes Michael Schoeck on PE Hub today.
Emerging manager Citation Capital is acquiring a majority stake in Cibo Vita, a founder-led smart snacking company, becoming the company’s first outside investor.
Last week we reported on one of the larger GP-led secondary deals in the market, run by Leonard Green & Partners. The firm is seeking to move four assets out of two older funds and into a continuation pool for more time and capital to grow the businesses. Read more here on Buyouts.
That’s it for me! Have a great Wednesday. Reach me with tips n’ gossip, feedback or book recommendations at christopher.w@pei.group or find me on LinkedIn.
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Why specialist care needs special treatment: This niche social infrastucture market may tick many of the right boxes. But do infra investors have what it takes to meet the needs of the people they are intended to serve? (Infrastructure Investor)
European growth investor Jolt Capital has reopened its fourth fund – which initially closed on €271 million in 2021 – to investors and added an additional €100 million in commitments to provide “even greater support to the outperforming companies already in the portfolio,” the firm said. (New Private Markets)
Warburg Pincus has amassed $17.3 billion for its largest ever vehicle, Warburg Pincus Global Growth 14, of which more than 15 percent of capital came from high-net-worth investors. (Private Equity International)
A recent report, released by American Investment Council and prepared by Ernst & Young, highlights the contributions of private credit activity to the broader US economy, including the industry’s role as a source of financing for small and medium sized businesses and its impact on wages and job creation. (Private Debt Investor)
Abu Dhabi Investment Authority, the world’s fourth-largest sovereign wealth fund by assets, increased its secondaries exposure last year amid better conditions for dealflow in the strategy. (Secondaries Investor)
“The craft beer industry consolidating was a part of what drove our investment thesis. There’s no established leader in the market, which is what drove Ronin into the space.”
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