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Category: COVID-19

Blackstone Group to acquire Ancestry.com

Private equity firm Blackstone Group is reportedly about to acquire genealogy provider Ancestry.com in a $4.7bn deal. The deal will include debt and would mark the first acquisition made from Blackstone’s Blackstone Capital Partners VIII

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.

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.

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.

Ares Management netted $4.4bn in first half of 2020 despite Covid-19

Alternative investment manager Ares Management bagged $4.4bn in commitments despite dealing with the coronavirus fallout. The results from the second quarter of 2020 also saw it raise approximately $1.7bn in commitments across 24 transactions. “Despite

Ares Management raised $9.1bn in Q2 2020 amid Covid-19 volatility

Alternative investment manager Ares Management bagged $9.1bn in new fund commitments in the second quarter of the year despite dealing with the coronavirus fallout.

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.

Covid testing, microbiology and viral lab specialist ALG sold by Thompson Street Capital Partners

Thompson Street Capital Partners has completed the sale of Analytical Lab Group, an industry-leading microbiology and viral lab, to trade buyer Element Materials Technology.

Caryle’s Rubenstein: US set for long recession post Covid-19, businesses must prepare for “very different” economy

Carlyle co-founder David Rubenstein believes the US is set for a long recession in the wake of the Covid-19 pandemic - and that business must be ready for a very different economy when it opens

Female entrepreneur-focused Rethink Impact closes $182m Fund II, says Covid-19 has hit diversity efforts in VC

Rethink Impact, one of the largest impact venture firm dedicated to backing female tech entrepreneurs, has hit a $182m final close for its sophomore fundraise.

How private equity firms could’ve been supported by tax money aimed at helping SMEs through Covid-19

Private equity firms with stakes in the US healthcare industry could have managed to tap into federal bailout money designed to give small businesses a lifeline through the pandemic. A new data dump of data

Here’s what the stats say about LP and GP activity during the coronavirus

The impact of the coronavirus crisis is likely to be felt around the world for years to come, with the economic aftermath potentially outstripping the 2008 financial crash. And that uncertainty over how the future

Facebook co-founder Saverin’s B Capital strikes $820m final close for second fundraise

B Capital, a venture capital firm launched by Facebook co-founder Eduardo Saverin, has hauled in $820m for the final close of its second fundraise.

AI logistics, supply chain management startup 7bridges gets Crane Venture Partners backing

7bridges, an AI-powered automation engine for businesses logistics and supply chains, has launched with a $3.4m seed round led by Crane Venture Partners and LocalGlobe.

Virgin Australia bondholders look to stamp out private equity takeover with debt-for-equity offer

Bondholders of struggling airline Virgin Australia have made a last-ditch bid to keep the company out of the hands of private equity firms bidding for the beleaguered business.

European private equity slumps to worst half-year since global financial crash amid coronavirus volatility

The Covid-19 pandemic has pushed European private equity deal volume in the first half of 2020 to its lowest level since the global financial crisis, despite a strong initial start to the year, new research

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