Unquote presents the latest episode of the Unquote Private Equity Podcast, where the team discusses corporate carve-outs.
With competition fierce for most high-quality vanilla assets, corporate carve-outs and spinoffs have enjoyed something of a resurgence as GPs seek to take the road less travelled when it comes to origination. To discuss the topic in further detail, editor Greg Gille hosts Francesca Veronesi, Julian Longhurst and Katharine Hidalgo, and special guest Tristan Nagler, managing director at Aurelius.
0:00 – Intro
0:48 – Prevalence of carve-outs
7:13 – Interview with Tristan Nagler, Aurelius Opportunities
17:16 – UK opportunities
Charcoal and natural additives company saw final bids from two banks and one direct lender
VCs including the Swiss Entrepreneurs Fund, BtoV and Ringier Digital Ventures also participated
Around 40 existing and new LPs, including British Patient Capital and the EIF, participated
Fund will invest in buyouts, recapitalisations and carve-outs of both profitable and underperforming businesses