View this email online 

The Wire

Sept. 30, 2021

Time to close deals compresses as deal competition heats up, Enlightenment Capital brings fourth fund to market

Happy Thursday! 

Quick turns: Because of intense competition in the mid-market for deals, the time GPs have to complete due diligence and decide on closing a transaction have shrunk, and require a lot more upfront work around things like market analysis, writes Michael Baruch on the Hub today. 

The average time to complete a deal has compressed to probably around two to four weeks, down from six to eight weeks, according to Dave Tayeh, head of private equity, North America at Investcorp. Read more here. 

We also have news that Enlightenment Capital is back with its fourth fund, and Angelo Gordon hired Scott Soussa, who formerly led or co-led Blackstone's GP stakes business. 

That’s it! Have a great rest of your Thursday. Hit me up as always with the good stuff, tips n’ gossip, The Drama, stuff that the elite doesn’t want you to hear (!), 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)

Football: Silver Lake invested in Pro Football Focus, which provides player evaluation data services for collegiate and professional sports teams, broadcast companies and digital companies. Silver Lake is investing through its Long Term Capital Strategy, established in 2020. Read more here.

Back: Enlightenment Capital Partners is in market with its fourth fund targeting $350 million. The firm, which focuses on investments in aerospace, defense government agencies, is led by Devin Talbott and Pierre Chao. Read more here on Buyouts.