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Sale of TCV-backed AxiomSL commands PE interest, How TPG’s thematic focus drove the creation Ellodi, a new specialty pharma business, Ex-Goldman exec’s deal-by-deal shop GHK Capital brings debut fund to market
 
Tuesday, September 29, 2020
 
 
Morning!

TPG formed a company called Ellodi Pharmaceuticals, which is developing a drug to treat Eosinophilic Esophagitis, or EoE. This is an allergic inflammatory disease that can lead to difficulty swallowing, narrowing of the esophagus and potentially choking to death on food impaction, according to Sarah Pringle on PE Hub. Read it here on PE Hub.
 
 
 
Top Scoops
 
Technology Crossover Ventures is attracting private equity interest for its portfolio company AxiomSL, which provides software for legal functions at financial institutions, writes Milana Vinn. Read it here.
 
 
 
GHK Capital, launched by an ex-Goldman Sachs executive that has been working deal-by-deal since 2018, is in market with its debut fund, I write on Buyouts today. GHK was formed by Gilbert Klemann in 2018. The firm launched Fund I right into the pandemic, and has found success raising capital remotely. Read it here on Buyouts.

Have a great day! Reach me with your thoughts, tips, gossip, whatever at cwitkowsky@buyoutsinsider.com, on Twitter or find me on LinkedIn.

HOUSEKEEPING: Deadline extension! Invitation to Perspectives 2021

In its ninth year, Perspectives is Buyouts's annual study of how institutional investors will approach private equity over the coming year. If you are an institutional investor, your participation in the study is greatly appreciated.

CLICK HERE TO PARTICIPATE. Deadline to participate: 03 October, 2020

Participating takes less than 10 minutes (I promise!) and in return you will be provided with a complimentary copy of the full results of the study. A $5 donation to UNICEF will be made for every completed set of responses, with your answers remaining strictly anonymous. For any questions, please email Nicole Douglas, Head of Investor Research: nicole.d@peimedia.com
 
 
 
 
Premium
 
 
 
 
Sale of TCV-backed AxiomSL commands PE interest
It’s unclear how far along the process is, but, according to multiple sources, AxiomSL has attracted interest from private equity firms. More...
 
How TPG’s decade-long thematic focus lent to the creation Ellodi, a new specialty pharma business
Ellodi's clinical assets were spun out of TPG's Adare, which grew EBITDA at a CAGR north of 25 percent under the PE firm's hold, a source told PE Hub. More...
 
Ex-Goldman exec’s deal-by-deal shop GHK Capital brings debut fund to market
GHK, led by Gilbert Klemann, launched the fund just as the pandemic kicked off, and has been attracting capital by fundraising remotely. More...
 
 
 
Big names line up for Clearlake’s Ivanti in ‘fastest-ever’ GP-led secondary
The market for GP-led processes like single-asset deals and fund restructurings is frenetic. More...
 
Sovereign LPs find an avenue into venture through seeded funds
These investors have poured capital into 1,100 VC funds since 2010 and some like Temasek have helped found and anchor managers. More...
 
Friday Letter: Invitation to participate in LP Perspectives 2021
It's time for the ninth annual deep dive survey of LPs. Your responses are anonymous and your participation in the study is greatly appreciated. Plus, it supports a good cause. More...
 
 
 
 
PE Deals
Sponsored by
 
NXT Capital
 
 
 
 
NMS Capital-backed Center for Social Dynamics partners with Behavior & Development Center
The NMS deal team included Neal Monga and Colin Durney. More...
 
Shareholders OK IPL Plastics’ sale to Madison Dearborn
Shareholders of IPL Plastics, a Montreal-based sustainable packaging solutions provider, have agreed to the company's sale to an affiliate of Madison Dearborn Partners. More...
 
Accel-KKR makes growth investment in Blue Mountain Quality Resources
Software Equity Group served as financial advisor to Blue Mountain Quality Resources. More...
 
 
 
Pamlico-backed US Eye adds Carolina Eyecare Physicians
With the addition of Carolina Eyecare Physicians, US Eye will operate 24 clinics and three surgery centers. More...
 
CPPIB exits investment in luxury retailer Neiman Marcus
Canada Pension Plan Investment Board has exited its investment in US luxury retailer Neiman Marcus Group, which emerged from Chapter 11 proceedings in US Bankruptcy Court. More...
 
Inter Pipeline to buy Milk River system from PE-backed Plains
Calgary-based energy infrastructure company Inter Pipeline has agreed to acquire the Milk River pipeline system from the Canadian affiliate of Plains All American Pipeline. More...
 
Trilantic closes minority investment in Rarebreed Veterinary Partners
Co-founders including CEO Dan Espinal and COO Sean Miller retained meaningful equity stakes in the business. More...
 
CBGF, EDC and BGF invest C$11.6m in growth of Appnovation
Vancouver-based digital consultancy Appnovation has secured C$11.6 million in follow-on equity financing. More...
 
Renovus Capital-backed ClinicalMind acquires IC Axon
ClinicalMind has acquired IC Axon, a Montreal-based developer of science-driven training for pharmaceutical and life science companies. More...
 
 
 
VC News
 
 
 
 
NewView Capital seeks $350m
NewView Capital in Burlingame, California aims to raise $350m for its latest fund. More...
 
Fluree wraps up seed round at $6.5m
Fluree in North Carolina has closed its seed round at $6.5m to provide a platform for blockchain-secured data. Investors include 4490 Ventures, Rise of the Rest, Good Growth Capital, Engage Ventures and Ray Rothrock. More...
 
Vendor selection startup Olive nabs seed funding led by Active
Olive, a Vancouver-based vendor selection software company, has raised C$1 million in a seed-stage financing. More...
 
 
 
Credit
 
 
 
 
Private credit firm FrontWell Capital Partners hires three
FrontWell Capital Partners has hired Aubrie De Sylva as a vice president in the firm’s deal originations team, and Kevin Freer and Andrew Isaac as a vice president and assistant vice president, respectively, in the underwriting team. More...
 
 
 
Firms and Funds
 
 
 
 
Advent closes Latin American Fund VII on $2bn
Advent Latin American Private Equity Fund VII will invest in Brazil, Colombia, Mexico and Peru and opportunistically in nearby countries including Argentina and Chile. More...
 
FrontWell launches $350m mid-market private credit fund
FrontWell Capital Partners has launched a private credit fund focused on providing senior debt financing to mid-market companies in the United States and Canada. More...
 
 
 
People Moves
 
 
 
 
Grafine Partners hires ex-Goldman exec Katherine Park
Grafine was launched in 2019 by ex-Riverstone executive Elizabeth Weymouth to work with institutional investors seeking innovative approaches to private capital.  More...
 
Ara Partners hires ex-Calyxt executive as operating partner
Sahoo previously worked for three years as chief commercial officer at plant-based technology company Calyxt. More...
 
Private credit firm FrontWell Capital Partners hires three
FrontWell Capital Partners has hired Aubrie De Sylva as a vice president in the firm’s deal originations team, and Kevin Freer and Andrew Isaac as a vice president and assistant vice president, respectively, in the underwriting team. More...
 
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