Southern Europe
Advent invests PE-backed Seedtag with EUR 250m-plus deal
Deal for Spanish digital ads firm marks partial exit for Oakley Capital, Adara and All Iron Ventures
GP Profile: MCP steps up DACH and international focus ahead of next fundraise
ESG and continued expansion of its international LP base also on the agenda, managing partner Inna Gehrt tells Unquote
Oakley to combine Grupo Primavera with Silver Lake’s Cegid
Merged software groups valued at EUR 6.8bn; Oakley becomes minority investor alongside KKR and AltaOne
BC Partners to join Bain as co-investor in Fedrigoni
Valued at around EUR 3bn, the Italian paper and label manufacturer will also receive co-investment from Canson Capital
StepStone Group gears up for next Tactical Growth Fund
Predecessor primary, secondaries and co-investment vehicle held a final close in 2021 on USD 690m
Trilantic to buy Passione Unghie in SBO from Orienta
Incumbent GP and founders retain minority stake; deal includes unitranche led by Eurazeo and HIG
Miura Partners raises first EUR 150m impact fund
Spanish GP’s new vehicle will have its carried interest linked to portfolio companies’ impact goals as well as financial performance
Ambienta plans asset class expansion following EUR 1.55bn Fund IV close
Environmental investor set for first deals with new fund in 2023 as it assesses a foray into new asset classes and geographies, founder and managing partner Nino Tronchetti Provera tells Unquote
Cinven plays long game with financials fund in hunt for 3x returns
With a life of 15 years, the new vehicle has closed above target, with insurers making up about a quarter of its LP base
Charterhouse expected to launch Optima's sale by early 2023
Owner is yet to appoint advisors to guide it on exit of Italian food ingredients producer
Investindustrial to reap 2.5x money in Natra sale to CapVest
New owner will support Spanish chocolatier's organic growth and potential transformational acquisitions
Sponsors brave the storm amid drop in financial services M&A
GP buyouts in the financial services space reached a two-year high in H1 2022 as rising financing costs and a brewing recession cloud the sector's M&A outlook
PE fundraising pipeline offers hope amidst slowdown in H1 2022
Final closes down by almost half so far this year, but a number of "mega-cap" vehicles in coming months could still bolster 2022 fundraising
Motive raises USD 2.54bn across Fund 2 and co-investment vehicles
GP's USD 1.8bn Fund 2 is 3.7x the size of its predecessor and expects to make 15-18 deals
Cinven holds EUR 1.5bn final close for financial services fund
GP's first sector-focused fund has made three deals, the first of which was insurance broker Miller
Carlyle closes in on acquisition of water fountain group Ocmis
US sponsor to beat Ambienta-NB Renaissance consortium with EUR 270m offer for Italian asset
Corporates best placed for autumn IPO window as sponsors sit out
GPs expected to continue to ditch listings in the short term in favour of sale exits, longer holding periods
Unigestion holds EUR 900m final close for fifth secondaries fund
Fund is more than three times the size of its predecessor and is more than 50% committed
Algebris holds EUR 200m first close for debut Green Transition Fund
Fund has a EUR 400m target and is headed by three former executives from Italian utility company A2A
Deft deployment, creative exits drive PE agenda into H2 2022
Take-privates, bolt-on opportunities and demand for resilient healthcare and technology assets offer hope for challenging second half of the year
Apax Partners hires head of Italy to bolster local presence
Marco Conte joins from Trilantic to support the French GP’s work in its pipeline of Italian SMEs
ICG, Merieux Equity to exit DOC Generici to TPG
Secondary buyout sees San-Francisco-based GP pre-empt auction for Italian generic drugmaker
Earlybird holds Growth Opportunity V first close
Later-stage fund has a EUR 300m target and will mainly back existing Earlybird investments
Cobepa buys majority stake in Salice
Belgian sponsor invests alongside Italian furniture hinges manufacturer’s family shareholders