| Silver Lake gains on AMC's retail buying frenzy, OMERS Private Equity healthcare head departs
Happy Friday!
Quick buck: Silver Lake Group on Thursday converted a big chunk of AMC Entertainment bonds into equity, taking advantage of an odd situation that caused shares of the struggling movie theater chain to more than quadruple by Wednesday’s close of trading.
While helping to reduce AMC’s debt by $600 million, according to Hollywood Reporter, the swap gives Silver Lake an instant gain of $284 million. Organizing on Reddit to "save" AMC, the move came after retail investors trading on popular online brokerage Robinhood Markets and elsewhere sent shares of AMC soaring – not unlike what occurred at GameStop. The buying of additional shares of AMC was subsequently restricted by Robinhood on Thursday, leading to significant public outcry.
With trading now resumed, check out the Wall Street Journal’s live coverage as the day goes on. What are some other ways the populist uprising on Reddit could impact private equity? Write to me here.
Read the full wire commentary on PE Hub.
As always, hit me up at springle@buyoutsinsider.com with any deal tips, feedback or just to say hello. Have a great weekend!
Note to Readers: It's that time of year ... for the 21st time, the editors of PE Hub and Buyouts honor exceptional buyouts with our Deal of the Year Awards. Winners are chosen in seven categories: Deal of the Year, Large-Market Deal of the Year, Middle-Market Deal of the Year, Small-Market Deal of the Year, Turnaround of the Year, International Deal of the Year, and Secondaries Deal of the Year. Go here for more information and to read about rules and methodology. Also check out past winners. Last year, New Mountain took the crown with its exit of Equian. If you have additional questions, email Private Equity Editor Chris Witkowsky at cwitkowsky@buyoutsinsider.com.
Also of note (may require subscriptions) On the move: Tis’ the season of people moves. Tim Patterson, an 11-year veteran of OMERS Private Equity, will leave the organization at the end of January, a source with knowledge of the matter told Buyouts.
Mainstream: Blackstone Group, joining TPG, is raising a pool of capital that will target GP-led deals like fund restructurings and single-asset deals. Read it here on Buyouts.
Missed target: Shares of Carlyle Group’s Ortho Clinical Diagnostics retreated 5.3 percent in their trading debut after its $1.3 billion initial public offering fell short of goals for the listing, writes Bloomberg.
New fund: The Wall Street Journal writes that Macquarie Infrastructure and Real Assets closed its second umbrella investment fund with $1.13 billion in commitments, surpassing a $1 billion target. Read it here. PE Deals 
They said it
“Consumers have a sentimental connection to movies. They will come back.” Reddit post argues earlier that week that AMC should be saved.
Today's letter was prepared by Sarah Pringle Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. Please 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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