Blackstone will be hoping to have the luck of the Irish on their side as they look to acquire a controlling stake in Winthrop Technologies for what is believed to be around GBP700 million. The privately owned Irish company is a leading constructor of data centers in Europe, where it has applied its expertise to design and build turnkey solutions in Germany, Ireland, the Netherlands and Sweden.
It has been reported by the Times that Ireland’s Chanelle Pharma is being vetted ahead of a potential acquisition by UK private equity group, Exponent. Based in Galway, the generic drugmaker is being valued at a deal price of around EUR300 million. It is believed that HIG and Duke Capital were also ‘farming’ to do a deal with the pharmaceutical company, which Michael Burke established four decades ago. Over the years it has built a stable of veterinary licenses for some 3,000 animal medicines across the EU. Exponent will be hoping this deal is just the medicine, as deal activity for the industry at large looks to pick up in 2023. Watch ahead as the Emerald Isle looks set to deliver a gem in Q1.
Whisper it quietly but there is a sense among PE executives that deal flow could be about to turn for the better rapidly. Buyout investors are keen to see realizations as they prepare to reinvest capital in new fund vintages. All of this could lead to GPs accepting lower prices on investments, generating a much-needed rebound in deal activity. Funnily enough, ‘Getting Deals Done’ is precisely the theme we’ll be exploring this week at IPEM Cannes 2024! If there are more buyout shops willing to accept lower prices, the deal flow tap will likely benefit all market participants, and hopefully bring a bit more ‘fun’ to PE fund investing in 2024. We certainly hope so.
Northern Trust’s investment in Novata, a private market data start-up, could help the industry turn a new leaf on ESG benchmarking. The investment is aimed at enhancing Northern Trust’s ESG data management capabilities, at a time when investors are looking for more (northern) light on ESG benchmarking as they analyze portfolio performance. Novata’s ESG data collection services are expected to play a key role in providing an ‘eco boost’ for Northern Trust as it responds to investor demand for ESG data. They’ll be hoping this enhanced sustainability capability will help investors relax and start to feel the benefits of an improved ‘green’ diet!
Blackstone, the world’s biggest alternative asset manager, has raised an initial $1.3 billion for a new private equity fund tailored for wealthy individual investors. The fund – Blackstone Private Equity Strategies (BXPE) – is further evidence of Blackstone’s decade-long push to diversify its investor base beyond large institutions, as it looks to build its private wealth client book. Blackstone is not the only group to think, ‘All hail retail!’ with Carlyle Group and Apollo also taking strides to offer investment funds to private investors. This could be the next step in solidifying Blackstone’s market-leading reputation, and more broadly, private equity’s appeal with the masses.