Good morning dealmakers, thank goodness it’s Friday.
It’s Obey Martin Manayiti here with the newsletter, my first dispatch for the year.
Thoma Bravo made a solid start to the year by completing its investment in BlueMatrix, a publisher of investment research.
Looking ahead, we’ve got an exclusive look at the sale process for Plus Power and why private equity firms may be among the bidders.
Also today, we’re featuring my interview with Development Partners International which is making inroads into Africa, buoyed by the continent’s growing urbanization, population growth and digitization.
And, as is traditional in January, there’s been a flurry of new hires and promotions this week.
Continued innovation
Thoma Bravo has made an investment in BlueMatrix, a Durham, North Carolina-based investment research publisher founded in 1999.
Upgrade to the premium version of the Wire to learn more about what Thoma Bravo is planning with this investment.
Power up
Plus Power, a closely-held energy storage developer, has initiated a strategic review process that could see the company sold to an infrastructure fund, private equity firm or strategic company, according to three sources familiar with the matter, as reported by my colleague Michael Schoeck.
Upgrade to the premium version of the Wire for more details on why Plus Power is a target of PE investors.
PE in Africa
I grew up in Zimbabwe and worked as a journalist there for many years before moving to the US, so I've seen firsthand how the middle class has grown on the continent. I’ve been exploring how investors regard the investment opportunities in Africa.
Development Partners International (DPI) is a London-based private equity firm that invests in companies in a wide range of sectors throughout Africa. The firm cites the growing middle class as one factor that makes the continent attractive to investors.
Marc Stoneham, a partner at DPI, revealed that the firm generated more than $250 million in exits in the last 12 months. Part of this growth is pinned on the growing digitization, growing urbanization as well as the growth of the middle class in Africa.
Upgrade to the premium version of the Wire to find out which regions and sectors of Africa are most promising.
The interview was part of PE Hub’s ongoing series of interviews with PE thought leaders. For more Q&As, see:
• Hamilton Lane’s Hartley Rogers: Private equity will separate into winners and losers
• Cambridge Associates’ Andrea Auerbach: Rate cuts in 2024 may break the transaction logjam and spur activity
• Vista’s Patrick Severson: Promising enterprise software sectors in 2024 include cybersecurity, energy transition, healthcare IT
• Blackstone’s Verdun Perry: ‘GPs are choosing to hold on to their best quality assets longer’
On the move
This first week of 2024, PE Hub has noted a flurry of people move and promotions especially regarding partners and operating partners. These new hires might be a sign that private equity firms are arming themselves for a deal-heavy year. For our ongoing PE personnel coverage, go to the People page on PE Hub.
That’s it for today. MK Flynn will be back with more on Monday.
Have a nice weekend,
Obey
Read the full wire commentary on PE Hub ...
