| View this email online 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. Exit: Seacoast Capital exited its investment in Walden Behavioral Care to Monte Nido & Affiliates. Seacoast initially invested in Walden Behavioral Care in 2014. It then made two follow-on investments in 2017 and 2019 to expand the company’s footprint into the Atlanta market and build a new hospital in Dedham, Massachusetts. Read more here. PE Deals They said it “Functionally, one of the things we found in our portfolio is that pricing has become a bigger opportunity than we had expected. Pricing is hard to get after, as you need the right combination of analytics, senior support to drive successful execution and one thing we found in our portfolio is that over the last 12-24 months even companies where we thought we were doing well on pricing, we found more opportunity. It’s gone from being ‘nice to have’ to ‘you must do it’ because costs are going up everywhere.” Panelist at PEI’s Operating Partners Forum 2021 on portfolio companies’ ability to raise prices in the inflationary environment. Today's letter was prepared by Chris Witkowsky Subscribe now to get full, unlimited access to all PE Hub content, including every PE Hub Wire article. FIND OUT MORE 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. London | New York | Hong Kong PEI Media Group Ltd is registered in England no.6135779 Registered office: 7th Floor, 100 Wood Street, EC2V 7AN To update your PE Hub email preferences, or to unsubscribe, click here. | 