PGP Investment Group’s Post

"The market has become increasingly conducive to doing deals...probably for us, more importantly, there is a lot confidence in the quality of earnings post covid. There were a lot of trends going on for the positive and the negative and over the last 12 months we have been able to get a better read of the true earnings trajectory in many of the assets we have been investing in." Maxim Crewe of Cinven speaks on Mega Deals making a comeback in Private Equity. He is joined by Christian Lucas of Silver Lake, Tristan Tully of Brookfield Asset Management and Michael Wand of The Carlyle Group. Moderated by Arash Massoudi of Financial Times. #IPEMParis2024

TPG, an American private equity firm, and Caisse de dépôt et placement du Québec (CDPQ), an institutional investor, agreed to acquire Aareon Group, an IT service management company, from Aareal Bank AG, an international property specialist, and Advent International, one of the largest and most experienced global private equity investors, for €3.9bn ($4.2bn). "This transaction marks a milestone in the development of Aareon. Thanks to the strong support of our owners Aareal Bank and Advent International, the company has made excellent progress in recent years. Now, we have reached a point where we can take the next step in our development. We are in an ideal position to capture further growth opportunities and welcome TPG and CDPQ as experienced and strong new partners," Hartmut Thomsen, Aareon CEO. TPG (led by Flavio Porciani) is advised by Morgan Stanley, Kirkland & Ellis and Greenbrook (led by James Madsen and Michael Russell). Aareal Bank (led by Jochen Kloesges) and Advent International (led by Jeff Paduch) are advised by Arma Partners, Goldman Sachs, CMS, Weil, Gotshal & Manges LLP and FGS Global (led by Olaf Zapke). #MergersAcquisitionsDiversitures #PrivateEquity #Germany

We can look back on a successful first half of 2024 in the secondary private equity market. LGT Capital Partners achieved a transaction volume of USD 2.6 billion, completed 22 transactions and acquired 1,341 underlying companies.   The largest secondary private equity deals led by LGT Capital Partners include: ·      Fiction III, an LP portfolio of North American mid-market buyout funds ·      Caelus, an LP portfolio of North American and European buyout funds ·      Pasadena II, an LP portfolio of North American small/mid-market buyout funds ·      Bloom, an LP portfolio of European buyout and growth funds ·      Sharpie V, an LP interest of North American mid-market buyout ·      Borealis, a continuation vehicle in European mid-market buyout assets ·      Cheetah, a continuation vehicle for global growth assets   Find out more here: https://lnkd.in/dSMEz9Ua   #lgtcapitalpartners #lgtcp #privateequity #secondaries #transaction

While many private market investment strategies remain sluggish, #gpstakes continues to develop as one of the former Co-Heads of leading GP stakes investors Goldman Sachs Asset Management's Petershill Partners launches a new firm backed by Reinsurance Group of America, Incorporated and Sackville Capital. Christian von Schimmelmann, a legendary leader in the market, forms PACT Capital Partners alongside Brian Vickery, to acquire stakes in #middlemarket alternative asset managers. The backing from Reinsurance Group of America, Incorporated underscores the interest of insurance companies in the GP stakes strategy as well as long-term #London-based investment firm Sackville Capital. PACT Capital Partners will seek to acquire stakes of between 5% and 15% of firms with roughly $3 billion to $10 billion of locked-up assets under management. Even with the fervest GP stake dealflow the past 5 years, the firm believes in a strong market opportunity ahead, with "around 250 firms have sold a minority stake — representing a fraction of the roughly 4,000 asset managers that have raised at least $500 million." Congratulations to all! #alternativeassets #fundmanagers #capitalmarkets #privatemarkets #privateequity #privatecredit #realestate #limitedpartners #secondaries #differentiation #fundraising #insurancecompanies https://lnkd.in/gSHuuR8v

Top 7 Private Equity Titans by AUM Ever wondered who rules the world of Private Equity? Meet the ultimate powerhouses: from Blackstone to Thoma Bravo, these firms are driving billion-dollar investments across the world. Swipe to check out their founding years, HQ locations, and total assets under management! Perfect inspo for anyone looking to dive into the industry 💰🔥 #PELeaders #PrivateEquity #FinanceClub #InvestmentTitans #Blackstone #Brookfield #Apollo #KKR #CarlyleGroup #CVCCapital #ThomaBravo #FutureOfFinance #financeinsights

The News of The Day.. #FLX #DueDiligence #JPMorgan #Alts #JPMAM #MonroeCapital #privatecredit #privatemarkets #FTC #privateequity #CambridgeAssociates #AnderaAuerbach #IPO #venturecapital #altsDCPlans #privatecreditsystematicrisk 📺 Cambridge Associates' Andrea Auerbach's recent Bloomberg appearance discussing the current #privateequity environment inc. looking at #IPO exits, distribution drought, focusing on the compass vs. the clock, distributions need to be re-allocated back to investors, #retailinvestors are a driver of new capital, issues are temporal in nature and need to base investments over full cycle of 7 years and investors need to be patient, #privatecredit has blossomed due to interest rates, a lot of dry powder esp. within funds $5B or more and need to also consider #lowermiddlemarket, #secondaries and have to pick your spots - https://lnkd.in/eM8iYfzB 🛣️ FLX introduces solution to streamline the #DueDiligenceProcess for Asset and Wealth Managers - https://lnkd.in/e8XWShH5 🔝 J.P. Morgan Asset Management is a Quiet Giant in #Alts. A reorganization aims to change that - two due diligence teams that JPMAM and the private bank have to support their #PE and #hedgefund programs will be combined - JPM likes to pursue products where the firm doesn’t have a competitive advantage - looking for the so-called white space. One gap has been private credit (even though the firm considered acquisitions i.e., Monroe Capital LLC as per recent rumor) - https://lnkd.in/eMgrHiu3 🪴 2/5 major U.S. deals in 2022 involved #privateequity investors, a % that has steadily grown over the past two decades. The explosion of M&A involving private investors helps explain the antitrust agencies’ recent focus on private equity as per Mergers and Acquisitions - https://lnkd.in/ee4FtXz4 🧟 More #venturecapital firms than ever are becoming zombies - "In 2023, 15,303 unique investors participated in at least one #VC deal in the US. But this year, that figure has dropped to 11,425 investors, according to the Q3 2024 PitchBook-NVCA Venture Monitor." - https://lnkd.in/e9Dr4DrF 🪙 The Case for #AlternativesinDCPlans - https://lnkd.in/eiXcAaJk ✳️ Fed’s Kashkari Says #PrivateCredit May Lessen Systemic Risk - https://lnkd.in/eXXkwsgn 🎭 European #Privatecredit inflows outperform other alts - https://lnkd.in/euS_YsNv

To add to Joseph Lucosky's thoughts, business hits different when you are working with the right partners! Couldn't have asked for better sponsors / partners in Lucosky Brookman LLP.

Following 25 years of privately-funded growth, Sia Partners has teamed up with investor Blackstone to fast-track its future growth ambitions » https://lnkd.in/e9MVjUUZ

SQ Capital, a New York-based private equity secondaries firm, officially launches under the leadership of Mustafa Siddiqui, Blackstone's former Global Head of GP Stakes. The firm aims to address growing liquidity challenges in private equity by targeting underpenetrated middle-market secondary opportunities across the US and Europe. Mustafa Siddiqui remarked on the firm's innovative approach to tackling the secondary market's rapid growth. Hadi Jaloul | SecondaryLink https://lnkd.in/eH6r32w6 #GPStakes #GPStake #GPSeeding

Should be an interesting conversation on preparing businesses for sale in todays market. Please join if you can.