Financials
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
Mubadala leads equity raise in Wefox's USD 400m Series D
Berlin-based insurtech platform valued at USD 4.5bn in equity and debt round
Apax heads for second small-cap fund with EUR 350m target
French GP seeks private and institutional investors with a minimum commitment of around EUR 100,000
Waterland invests in tax and audit advisor Cooper Parry
GP is deploying capital from Fund VII, where many other business support services companies sit
Project A holds USD 375m final close for Fund IV
Vehicle includes a component of up to USD 80m for the German firm’s PE co-investments
Inflexion to exit Global Reach in trade sale
UK foreign exchange company to be acquired by US-listed business payments specialist Fleetcor
Ardian invests in TA Associates-backed Odealim
Sponsors will have co-control of the France-based insurance broker, with TA reinvesting
Advent raises USD 25bn for GPE X
Around 40% larger than its predecessor, the new fund was raised in less than six months, managing director Johanna Barr tells Unquote
Earlybird holds EUR 350m final close for Digital West VII
Fund is double the size of its predecessor to keep pace with the market, Earlybird's Hendrik Brandis said
Andera Partners holds EUR 450m first close for Andera MidCap 5
Vehicle has a target of EUR 600m and is around 50% larger than its predecessor, Winch Capital 4
Oaktree exits Ascot Lloyd to Nordic Capital
New owner is acquiring the UK-based independent financial advisor via Nordic X
IK Partners sells Recocash to Qualium Investissement
Deal marks the third exit from IK Small Cap II, which is at least 93% deployed
Parcom prepares insurance provider TAF for exit
Parcom acquired a majority stake in the Netherlands-based business in December 2018
Nordic forms Bilthouse through mortgage broker acquisitions
The GP will merge Baufi24, Hüttig & Rompf and Creditweb to form new company; deal made through Nordic Capital X
Advent buys Mangopay, Leetchi
Deal adds to GP's 17 fintech assets including Planet and Medius; sponsor has invested USD 6.5bn in fintech since 2008
Lightrock announces promotions, board appointments
Impact investor expects to turn its focus to new deals in 2022 and grew its team by 30% in 2021
Vitruvian makes USD 35m investment in Moonfare
Deal comes shortly after Insight Partners led a USD 125m Series C for the PE investment platform
Connection Capital exits Tempcover to RVU for 5x money
London-based RVU owns Uswitch, Confused.com, and Money.co.uk
Exponent sells Enra to Elliot Advisors
Exit reportedly values the UK-based specialist mortgage finance provider at more than GBP 350m
Apax leads GBP 175m round for ClearBank
Clearing and embedded banking platform is the first deal from the GPтs USD 1.75bn Apax Digital II
Clearlake, Motive to acquire BETA+ from LSEG for USD 1.1bn
GPs will use wealth management processing solutions provider as a buy-and-build platform and enter new high growth markets
Dawn Capital eyes two new funds
Software-focused VC makes early-stage deals; its Opportunities funds back its later-stage portfolio
Pollen Street to expand investment strategies in public market foray
UK alternative asset manager will seek to carve out a niche for itself with existing and new strategies after merger with Honeycomb
Inflexion exits Succession to Aviva for 3x money
Insurer Aviva paid GBP 385m for the asset