Dealmaking

RedBird-backed FSG to buy Pittsburgh Penguins, Brookfield to grow 'size and scale' of private equity platform

The sellers are former Penguins captain Mario Lemieux and businessman Ron Burkle, who acquired the team in 1999; Brookfield’s plan is to bring its PE platform in line with its most established platforms, such as real estate.

Impossible Foods completes $500m funding round

The alternative protein start-up has taken its total capital raised to $2bn since being founded in 2011 and raised $700m in 2020.

Private Equity Jobs of the Week: Zurich North America, Wellington and Blackstone are hiring

This week’s jobs include associate spots at Blackstone, Zurich North America and Wellington.

TCV runs strip sale on group of assets out of older funds, Clearlake agrees to buy Quest Software from Francisco

The sale is of 13 “relatively mature” assets out of older funds with total net asset value of around $1 billion; the deal values Quest at $5.4 billion including debt.

TA invests in Nactarome, CenterGate exits TSC Apparel

Carlyle makes significant exits and TA backs Nactarome.

Have deal certainty? Sold!

At PEI's recent Operating Partners Forum, executives from firms including Permira and Antin Infrastructure said sellers are primarily driven by the ability of the buyer to execute on a difficult transaction.

Carlyle sees more growth in digital IT services after PK exit

The firm said this week it would sell PK to Concentrix in a transaction valued at roughly $1.6bn after a five-year hold.

Bain, Hellman & Friedman agree to buy Athenahealth mega-deal, Blackstone closes next GP stakes fund

Bain and Hellman & Friedman agrees to buy Athenahealth while Blackstone racks up $5.6 billion for fund.

Private Equity Jobs of the Week: Lincoln International, Partners Group and Manulife are hiring

This week’s jobs include associates at Partners Group and Lincoln International and a senior analyst at Manulife.

Venture activity is vigorous in Southeast Asia, which is no surprise to local GPs

In 2020, start-ups in the region raised in excess of $8.2bn, more than five times the $1.6bn VCs poured into SEA companies in 2015, according to PitchBook, and 2021 is set to be another record year for local investments.