Meme - Even the number of tumbleweeds has dried up

IP..Oh..No!

News, WEEKLY SPIN

The PE exit landscape has entered a barren phase this year with fewer than 900 completed exits in the US through September. EQT’s CEO Christian Sinding has referred to dysfunction in the IPO markets, prompting the firm to consider private stock sales to give LPs some liquidity back. It’s another sign of GPs thinking creatively to free up capital. Think of it more as an appetizing starter before LPs are given the main course – that is, when a full exit is achieved. GPs will be privately watching on the sidelines to see if this route is worthy of exploring. With other choices on the table – namely continuation funds and NAV financing – the menu of liquidity options is starting to expand. All the while demonstrating the further evolution of the PE marketplace.

inspired by The Financial Times

Meme - When it comes to making a good impression…the orange carpet helps!

Cannes do attitude

News, WEEKLY SPIN

Ascential, the owners of the Cannes Lions International Festival of Creativity and Money 20/20, have received an acquisition bid from a consortium of investors but will they bite? The consortium includes PE-backed Hyve, and MediaLink, owned by United Talent Agency. The resort town is the iconic setting for the Cannes Lions, whose revenue has grown 30% this year, while Money 20/20 sharpened its focus with a 19% revenue increase. Post-Covid events acquisition opportunities will continue to stay on the (event) horizon of PE investors as revenue drivers; and with the Cannes Lions’ global appeal, the consortium will certainly be hoping its bid is a roaring success. Or will they find themselves clawing back the competition?

inspired by PRWeek

GIF - Cheer up we’ve just heard Carmignac and General Atlantic have joined the nest

Clip clip hooray!

News, WEEKLY SPIN

Clipway, a new PE secondaries firm founded by former Ardian executive Vincent Gombault, has received minority stake investments from General Atlantic and French asset manager, Carmignac. The firm, which is led by Gombault and Ingmar Vallano, is in the process of fundraising $4 billion for its first fund. The new partnership with two well-established management groups should help it to move along at a faster clip. Both PE and traditional asset managers are going back for seconds as their appetite grows for PE secondaries. Clipway will focus on LP-led opportunities using proprietary next-generation technology called Tech-Enabled Secondaries System (TESS). With the secondaries market continuing to mature, this could be an ideal time for TESS to impress.

inspired by the Financial Times