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The Wire Feb. 17, 2022
SFW banks on predictive maintenance with RDI recap; last chance for 40 under 40 Good morning, Hubsters. MK Flynn here, with today’s Wire.
Let’s kick things off with a call to action. Today is the last day to get your entries in for Private Equity International’s fourth annual rising stars of private equity list. PEI’s 40 under 40: Future Leaders of Private Equity will be published online and in the Future of Private Equity Special in early May. Submit your nomination by end of day today.
Predictive maintenance. "Businesses have learned that it is much more cost effective to search for and find problems early on rather than wait for things to break," SFW Capital Partners’ Ahmad Sheikh told PE Hub in an exclusive interview. “The decrease in downtime more than pays for the investment up front.” The PE firm announced this morning that it has completed a majority recap of RDI Technologies, which makes sensors that use camera technology and video-processing software to monitor a wide range of industrial and engineering equipment.
All-weather approach. Both Apollo and Ares are nearing closes of their latest special opportunities offerings after vigorous fundraising late last year, Kirk reports for Buyouts.
Power play. Infrastructure deals are expected to get a boost this year from the passage of Infrastructure Investment and Jobs Act late last year. Yesterday, KKR announced the addition of Neil Chatterjee, former commissioner and chairman of the Federal Energy Regulatory Commission (FERC), as an industry advisor to the firm’s global infrastructure team.
That’s all for now.
Until tomorrow, MK
Read the full wire commentary on PE Hub ...
Also of note (may require subscriptions) "Consultants and investor groups have welcomed plans by US regulators to force greater fee transparency on private equity managers, saying they will help pensions and other fund managers to track performance and to demand fair treatment on costs." (Financial Times)
The FT's Due Diligence column looks at CVC's deal for Unilever’s tea business, saying it will test the ESG credentials of Europe’s largest private equity firm.
"A private equity investor who paid more than $1.2 million to secure the admission of his three children to elite universities as purported athletic recruits was sentenced on Wednesday to 15 months in prison, the longest sentence yet in the nationwide college admissions bribery case, prosecutors said." (New York Times)
"Secondary advisers and buyers say sustained market volatility stands to widen the pricing gap between buyers and sellers of private fund portfolios." (WSJ Pro)
"Private equity firms are increasingly investing in behavioral services for troubled youth, according to a new report released on Thursday by the nonprofit Private Equity Stakeholder Project." (Reuters)
"A concerted effort by California’s largest public pension system [Calpers] to increase co-investments and customized, or separately managed, investment accounts helped it get more control over its $49 billion of private-equity holdings last year." (WSJ Pro)
"U.S. private-equity group Silver Lake has agreed to a scaled-down investment in commercial rights of the All Blacks, which values the New Zealand rugby team at about $2.3 billion." (Wall Street Journal)
PE Deals
They said it “Businesses have learned that it is much more cost effective to search for and find problems early on rather than wait for things to break.” — Ahmad Sheikh, partner, SFW
Today's letter was prepared by MK Flynn Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MOREPlease visit Buyouts for the latest insight into LP activity and Venture Capital Journal for comprehensive coverage and analysis of what’s happening in VC.
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