Private equity groups spend $42bn acquiring their own companies to raise cash December 24, 2021 The number of deals where private equity groups sold companies to their own funds – to bring about generous payouts for executives – surged this year and were worth $42bn, according to reports. Known as ‘continuation fund’ sales, the frequency of such deals marked a sharp rise of 55 per cent compared to 2020, according [...]
Pure Gym shelves IPO for £300m KKR equity fundraising December 14, 2021 The UK’s largest gym chain Pure Gym today announced it has raked in £300m equity investment from private equity giant KKR, choosing to funnel fresh funds into its expansion plans before hitting public markets. KKR will become a significant minority investor in Pure Gym following the fundraising, alongside the company’s management and its existing majority [...]
Permira takes Mimecast private in £4.4bn all-cash deal December 7, 2021 Shares in Mimecast jumped more than 6 per cent in pre-market trading on the news that the British cybersecurity firm is being targeted by private equity firm Permira in a take-private deal valued at $5.8bn (£4.4bn). In the latest deal in what has been a very busy year for private equity interest in the tech [...]
Six Nations stakeholder CVC hires Goldman to plot £11bn IPO December 5, 2021 London-based private equity giant CVC Capital Partners is reportedly working with Goldman Sachs to prepare to follow in Bridgepoint’s footsteps with a blockbuster stock market listing. CVC, which boasts Six Nations rugby and RAC among its portfolio, is working with the bank on a potential float that could value it at up to £11bn, the [...]
Lord Sainsbury’s family office plots £253m investment into private equity funds November 29, 2021 Lord David Sainsbury, the great grandson of Sainsbury’s founder, plans to bet big on private equity funds through his family office Innotech Advisers, according to a UK registry filing. The London-based firm, which has stepped away from public markets to invest in private companies – predominantly through loans and participation in limited partnerships with independent [...]
LV to launch fresh charm offensive to get £530m Bain takeover approved November 21, 2021 Insurance mutual LV is this week expected to stage a fresh charm offensive for member-owners to talk up the benefits of a £530m bid from US private equity firm Bain. The takeover for the mutual formerly known as Liverpool Victoria has come into the spotlight after members balked at the prospect of just a £100 payment [...]
Activist fund Gatemore buys stake in DFS and warns of buyout vulnerability November 10, 2021 Gatemore Capital management has bought a stake in DFS and told its fund investors that the sofa chain is undervalued by public markets and thus ripe for a private equity bid. Adding to its roster of listed British retailers, which includes Moss Bros, French Connection and Superdry, the activist fund told investors last month that [...]
Metro Bank shares surge on Carlyle Group takeover approach November 4, 2021 Shares in high street lender Metro Bank jumped 35 per cent today after it confirmed it was in talks with funds linked to the Carlyle Group regarding a takeover. Shares are currently up 35 per cent at 139p per share. It added in a statement there was no certainty an offer would be made and [...]
PE group in talks to sell Racing Post owner for up to £500m October 31, 2021 Spotlight Sports Group, the media entity that owns British horseracing the Racing Post, is reportedly heading towards a £500m sale at auction, as its private equity owner looks to cash in on the growing capital tied to sports betting data. Exponent Private Equity, which scooped up the horseracing publication in 2016, has begun talks with [...]
Carlyle charts record earnings on pandemic recovery October 29, 2021 Global investment firm The Carlyle Group yesterday reported its third quarter earnings increased nearly fivefold, fuelled by record assets sales, predominantly from its private equity portfolio. Distributable earnings rose to a record $731m, up from $152m a year earlier. This brought distributable earnings for the year to date to $1.3bn – an increase of 155 [...]
