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Category: Coronavirus

VC performance ‘unscathed’ by Covid-19 in Q1 as industry consolidates exceptional 2019 – eFront

Venture capital performance remained 'unscathed' in the first quarter of 2020 despite the onset of the coronavirus pandemic, as the industry consolidated what had been an exceptional 2019, new research shows.

Sixth Street hits mammoth $22.5bn for flagship fund after reopening vehicle to investors amid Covid opportunity: WSJ

Former TPG credit arm Sixth Street Partners has reportedly brought in another $10bn for its nine-year-old flagship fund after it re-opened the vehicle amid huge opportunities thrown up by the coronavirus crisis.

Ex-KKR deals veteran Momtazee launches new healthcare-focused private equity house

Former KKR dealmaker Jim Momtazee has reportedly launched his own private equity house targeting investments in the burgeoning healthcare sector.

UK hunts for way to provide bailout loans to debt-laden private equity-backed businesses: FT

The UK government is reportedly searching for a way to offer state-backed loans to debt-heavy private equity-backed businesses to bolster struggling high street retailers, the FT has said.

Sun Capital sells Johnny Rockets to Fatburger owner as restaurant industry looks to rebound from Covid-19

Sun Capital-backed 50's-themed restaurant chain Johnny Rockets has been bought by Fatburger owner FAT Brands in a $25m deal.

Advent continues coronavirus dealmaking with investment in real estate software business Aareon

Global private equity major Advent International has agreed to buy a 30% stake in real estate software business Aareon, a subsidiary of Germany’s Aareal Bank Group.

Family offices give VC vote of confidence amid Covid-19 crisis – but returns expectations prove surprising

Family offices are sticking with venture capital despite the growing coronavirus crisis - but their expectations of returns threw up a surprising result, new research shows.

Advent buys stake in delivery business Hermes UK amid demand spike due to Covid-19 lockdown

Private equity giant Advent International has agreed an investment in consumer delivery business Hermes UK.

Industry Ventures raises $180m sophomore co-investment fund amid coronavirus lockdown

Industry Ventures has hit a $180m final close for its second co-investment fund amid talking up the "compelling opportunity" to invest in digital transformation in the coronavirus pandemic.

BGH Capital agrees cut-price Village Roadshow buyout in wake of coronavirus shuttering

Australian theme park and cinema operator Village Roadshow has agreed to a cut-price offer from BGH Capital as it looks to recover from the impact of the coronavirus crisis.

ICG could raise €1bn for recovery fund targeting coronavirus opportunities – report

Intermediate Capital Group is reportedly in talks with LPs over raising a €1bn 'recovery fund' to invest in business opportunities thrown up by the Covid-19 pandemic.

Private equity execs bullish on 2020 dealmaking, more portfolio company support – survey

Private equity firms remain bullish on their portfolio investments despite the widespread chaos caused by the coronavirus crisis, new research suggests.

Can a slew of pandemic-focused private debt fundraises slow the sector’s fundraising decline?

Private debt fundraising is on pace for its slowest year in half a decade - but will a surge of newly-launched opportunistic vehicles hoping to profit from the coronavirus crisis turn those numbers around?

Secondaries private equity dealmaking falls apart due to Covid – but record fundraising leaves sector in rude health

Secondaries private equity dealmaking fell off a cliff in the first half of the year as the coronavirus crisis saw deal value drop more than 56% compared to the same period in 2019, new research

KKR seals record fundraising quarter amid push to profit from coronavirus opportunity

Global private equity giant KKR raised a record $16.4bn last quarter amid a powerful push to cash in on investment opportunities thrown up by the ongoing coronavirus crisis.

Apollo’s Rackspace IPO values company at $4.18bn, below PE firm’s 2016 take-private valuation

Apollo Global has seen a disappointing IPO for portfolio business Rackspace value the business at about $4.18bn - less than the company's $4.3bn valuation when Apollo took it private four years ago.

Hony Capital burned by Pizza Express as bondholders agree deal for struggling restaurant chain

Struggling private equity-backed restaurant group Pizza Express is set to be largely taken over by bondholders as the business reels under the strain of the coronavirus lockdown.

US homeschool curriculum business AALP bought by Surge Private Equity

Dallas-based buyout house Surge Private Equity has bought US homeschool curriculum publisher All About Learning Press.

Epiris deal looks to rescue UK’s Bella Italia, Café Rouge, Las Iguanas following Covid-19 lockdown

UK private equity house Epiris has swooped to buy restaurant chains Bella Italia, Café Rouge and Las Iguanas in a bid to rescue the eateries following their long closures due the coronavirus crisis.

Advent, Cinven complete €17.2bn Thyssenkrupp elevator unit buyout signed before Covid-19 pandemic

Global private equity giants Advent and Cinven have closed their €17.2bn takeover of Thyssenkrupp's sought-after elevators business, one of the biggest buyout deals to be completed since full force of the coronavirus pandemic struck.

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