Southern Europe
The Bolt-Ons Digest – 14 December 2022
Unquoteтs selection of the latest add-ons, including CVC's Stark Group, Bridgepoint's Kereis, EQT's Open Systems, and more
William Blair launches Madrid office, adds investment banking practice in Zurich
Álvaro Hernández to lead new Spanish branch; healthcare will be first focus of Swiss expansion
Large LPs among most concerned about denominator effect – Coller Capital
As the stock market slump slows down their PE commitments, LPs are set to increase use of the secondaries market to balance allocations
L Catterton to kick off Pinarello sale early next year
Houlihan Lokey will advise on auction for the Italian Italian bicycle manufacturer
AlbaCore Capital Group holds EUR 2.2bn final close for third flagship fund
Fundтs recent focus has been senior secured deals for companies seeking financing amid a tough credit market
Adams Street raises USD 1.1bn for 2022 Global Fund Program
Latest co-mingled vehicle is around a third larger than previous two programmes in the series
Strategics pull back from PE sales as macro uncertainty bites
Share of trade exits hits lowest point in three years as corporates shore up balance sheets to navigate economic woes
Santander's Tresmares launches in UK with GBP 725m fund
GP has hired ICG's Philippe Arbour to lead evergreen fund that offers products including direct lending
PE liquidity at all time low amid macro woes – Rede Partners
Gabrielle Joseph speaks to Unquote about what the latest Rede Liquidity Index reveals about the 2023 fundraising market
Wise Equity exits Trime in SBO to 21 Invest
Italian lighting tower maker to pursue growth in US, Australia and continue focus on ESG goals
Armonia exits Italy's BioDue in SBO to Riverside Europe
Sale of food supplement and medical devices group marks second exit from Armònia Italy Fund
Fundraising power balance shifts to LPs – panel
Panellists at SuperInvestor conference in Amsterdam discuss how GPs can grab LPsт attention in a challenging market
Q3 Barometer: M&A softens across entire PE spectrum
The latest Unquote Private Equity Barometer, produced in association with abrdn, is now available to download
Ardian reinvests in Neopharmed alongside NB Renaissance
French GP will move stake from fund VI to VII; additional capital allows for European M&A
Adams Street raises USD 1.3bn for Co-Investment Fund V
Global strategy surpassed its USD 1bn target and will invest with buyout and growth equity GPs
Alto Partners reaches EUR 150m first close on fifth fund
Alto Capital V to target EUR 300m with further commitments expected from Italian and foreign LPs
GP Profile: Investcorp's GP stakes strategy sees strong dealflow ahead
Growing private assets market and changing LP perception will bolster GPтs mid-market strategy, Anthony Maniscalco tells Unquote
Emerging managers: "now is the time to back tomorrow's leaders" – Unigestion
Asset manager discussed outperformance of first-time funds and showcased new managers at a virtual event
17Capital gears up for Fund 6
GP raised USD 2.9bn for its previous dedicated NAV-based preferred equity vehicle in 2021
Mirabaud to hit the road for second EUR 300m consumer brands fund in 2023
GP plans to build up exit track record from previous тliving heritageт fund before returning to market
Platform boot camp: Buy-and-build holds fast in healthcare sector
Healthcare M&A has held up well in 2022 versus 2021, offering hope in a challenging market
Three Hills holds EUR 1bn final close for THCS IV
Preferred capital vehicle almost double the size of predecessor; plans to provide larger maximum tickets
Wise kicks off sale of bike tires maker Vittoria
Baird appointed to run auction for Italian company acquired in 2020; teasers distributed
Secondaries dealflow sees boost from primary fundraising, macro climate – Coller Capital
FranУЇois Aguerre and Michael Schad also discussed topics including credit secondaries