| 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... | SPONSORED INSIGHT | | Global Private Equity Performance Series | | The fourth edition of Global Private Equity Performance Series is for the first time using the deal-level benchmarks in geographical performance analysis. Powered by data sourced directly from GPs and validated via the Insight platform, GPEPS now provides a detailed analysis of performance and deal activity across all regions and sectors at the portfolio company level. This edition of our annual report on global and regional performance is organized around three complementary analyses: the annual performance, the investment-to-date performance and the IRR analysis. | | Download the paper |
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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. Hire: Angelo Gordon hired Scott Soussa in the newly created role of chief strategy officer, responsible for building the firm’s existing credit and real estate platforms. Soussa formerly led or co-led Blackstone’s Strategic Capital Advisors, which oversees its GP stakes and hedge fund seeding units. Read it here. PE Deals They said it “Even though there are a lot of firms and a lot of competition, there are actually a lot of deals in the market. If it’s not something we feel great about, we’re not going to spend a ton of time [on it], because we know others will.” Dave Tayeh, head of private equity, North America at Investcorp, talks about competition in the mid-market. 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. | 