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The Wire

Oct. 28, 2021

T. Rowe Price agrees to acquire Oak Hill Advisors, NewSpring Capital runs process to more time, capital for Verisma

 

Happy Thursday! 

 

Big news on the alternatives front this morning: T. Rowe Price agreed to acquire Oak Hill Advisors for up to $4.2 billion. Oak Hill Advisors will become the private markets platform of T. Rowe Price, with the company agreeing to commit $500 million for coinvestment and seed capital alongside OHA management and investors. Read it here on PE Hub. 

 

Yesterday Sarah and I wrote about Sevita, backed by Centerbridge Partners and Vistria Group, which is going through a minority stake sale and then will be moved through a single-asset deal. Today I have a story about NewSpring Capital running a process to move healthcare IT company Verisma out of an older fund and into a continuation pool for more time and capital to grow the business. 

 

The single-asset process also will include a shot of fresh capital into NewSpring’s fourth healthcare fund, which is targeting $175 million. Read more here. 

 

That’s it for me! Have a great rest of your day. Hit me up with tips n’ gossip, feedback, insider stuff, The Drama or whatever at cwitkowsky@buyoutsinsider.com or find me on LinkedIn.

 

Read the full wire commentary on PE Hub... 

 

Also of note (may require subscriptions)

Non-control: Ironwood Capital Management, one of the few PE firms led by a woman, is targeting $500 million for a fifth flagship mezzanine offering. Fund V held a $166 million close in August. Read more here on Buyouts.

 

Hirings: Mountaingate Capital hired Brandon Hall as a vice president from Incline Equity Partners. Hall previously worked at Mountaingate as an associate prior to completing his M.B.A. at the University of Chicago Booth School of Business. The firm also promoted Corbin Barnds to senior associate. Read more here on PE Hub.