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Private equity firm TPG has agreed to buy a minority stake in Homrich Berg, an investment that will allow the wealth management firm to pursue growth opportunities, according to a report by Reuters citing a joint statement from the companies. While financial terms of the deal have not been released, then report cites unnamed sources as revealing that TPG’s investment valued Homrich Berg at around $1bn. Following the transaction, Homrich Berg’s m…

Atlanta, Georgia

Atlanta

Private Equity Wire

TPG acquires minority stake in wealth manager Homrich Berg at $1bn valuation

The Merced County Employees Retirement Association (MCERA), which has $1.2bn in assets under management approved a new private equity commitment during its September board meeting, according to a report by Private Equity International. The California-based public pension fund has committed $8m to the Summit Partners Growth Equity Fund XII. Managed by Summit Partners, the fund, which is aiming to raise $9bn, focuses on growth equity investments i…

California, United States

California

MCERA makes new $8m private equity commitment

Kainos Capital (Kainos), a food and consumer-focused private equity firm, has promoted David Gassko and Jeff Moredock to Partner. Gassko and Moredock were both previously Principals, and each have over a decade of experience in the food and consumer sectors. Gassko joined Kainos in 2013 as an Associate, having begun his career as an investment banker with Wells Fargo. Following business school, he returned to Kainos as a Vice President. Gassko h…

Kainos promotes two to Partner

6lock, a secured payments platform built for private equity firms, has begun onboarding new clients for funds transfers. The platform is aiming to provide more transparency than manual wire transfers as phishing and fraud instances grow. After users are invited and verified, the invite-only platform continuously monitors the credentials of each member of their funding network, ensuring each person is fully attested and authorised. Beyond securit…

6lock launches secured payments platform for PE firms

The Ontario Municipal Employees Retirement System (Omers) will no longer pursue direct private equity investments in Europe as part of a strategic reorganisation of its operations in the region, according to a report by Bloomberg. The report cites unnamed sources familiar with the matter as revealing that instead of direct investments, Omers plans to adjust its approach by working alongside partners and third-party managers. The shift follows th…

Toronto, ON

Toronto

Omers pulls plug on direct PE investment in Europe

Private markets are evolving, by necessity. Macro-economic shifts since the pandemic have brought with them valuation peaks and troughs, asset logjams, liquidity challenges, and pressure to adapt to a more demanding – and concerned – investor base. Private Equity Wire’s ‘Ones to Watch 2024’ list highlights 12 firms that have managed to differentiate themselves, communicate their proposition, raise funds and deploy capital effectively in what has…

Ones to Watch 2024: Spotlight on specialisation, diversification and value creation

Buyout firm L Catterton, backed by luxury conglomerate LVMH, is to acquire a majority stake in the pilates studio operator Solidcore from VMG Partners, Peterson Partners, and Kohlberg & Company in a deal that values the fitness chain at $700m, according to a report by Reuters. The report cites unnamed sources familiar with the matter as confirming that L Catterton will hold its stake in Solidcore, which is known for its intense 50-minute workout…

LVMH

Alexandria, VA

Alexandria

L Catterton acquires majority stake in pilates chain Solidcore

Pictet Alternative Advisors (PAA), an independent unit of the Pictet Group which manages hedge fund PE and real estate investments, has held the final close of the second vintage of its technology-focused thematic private equity fund at more than $200m. Managed by Stanislas Chanavat, Chuang Zhu, Nicolas Schwyn and Jacqueline Xu, the Technology strategy targets high-conviction investment opportunities in the key segments of enterprise software, d…

Geneva, Switzerland

Geneva

Pictet raises over $200m for thematic private equity Technology Fund II

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U.S.-based asset management company Apollo Global Management has offered to make an investment of as much as $5bn in Intel, Bloomberg News reported on Sunday.


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Apollo eyes $5bn investment in Intel

The two Wall Street heavyweights have struck an exclusive partnership to arrange financings for corporate and private equity clients.

New York City

New York

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thedailyupside.com

Citi, Apollo Join Forces in $25 Billion Private Credit Push

Vista and Blackstone are set to acquire Smartsheet for $8.4 billion in cash.

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hedgeco.net

Vista, Blackstone To Take Smartsheet Private In $8.4 Billion Deal

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