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Brookfield raises $15bn for energy transition fund. (FS)
LGT Capital Partners holds the final close of Crown Asia-Pacific Private Equity V at $1.65bn hard cap. (FS)
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Broadcom’s $69bn acquisition of cloud software company VMware is set for a lengthy antitrust investigation in Brussels over regulatory concerns that the deal will harm competition across the global technology industry,?FT reported.
Broadcom is already in preliminary discussions with EU officials who will be looking into worries that the merger may lead to abusive behaviour, including potential future price rises by the US chipmaker.
VMware is advised by Goldman Sachs, JP Morgan, Gibson Dunn & Crutcher and Sard Verbinnen & Co. Broadcom is advised by Bank of America, Barclays, Citigroup, Credit Suisse, Morgan Stanley, Wells Fargo Securities, Cleary Gottlieb Steen & Hamilton , O'Melveny & Myers, Wachtell Lipton Rosen & Katz and Joele Frank. Silver Lake is advised by Simpson Thacher & Bartlett .
Pagaya, a financial technology company, went public via a SPAC merger with EJF Acquisition in an $8.5bn deal. Investors in PIPE included Tiger Global, Whale Rock, GIC, Healthcare of Ontario Pension Plan, G Squared and funds affiliated with EJF Capital.
"This is an important milestone not just for us, but also for our partners, their customers and the broader financial services industry. Legacy systems are historically fractured and inefficient. We identified a significant opportunity to address the inefficiencies of the current system by constructing a network powered by our proprietary AI technology. Our combination with EJFA allows Pagaya to combine our expertise with EJF’s deep financial experience. Together, we can continue to expand a leading artificial intelligence network to help our partners grow their businesses and better serve their customers," Gal Krubiner, Pagaya Co-Founder and CEO.
Pagaya was advised by JP Morgan, Goldfarb Seligman & Co, Skadden Arps Slate Meagher & Flom , ASTRSK PR and ICR. EJF Acquisition was advised by Barclays, Duff & Phelps, UBS, Simpson Thacher & Bartlett and Gasthalter & Co.
Sumitomo Mitsui, a Japanese multinational banking and financial services institution, agreed to invest $583m in SBI Holdings, a financial services company group based in Tokyo.
The alliance will focus on providing online financial services for individuals including younger and mass-affluent customers, SBI said in a statement. The brokerage will use the funds to repay loans and enhance its fundraising base, which in turn will boost its capacity to do more mergers and acquisitions.
Brookfield raises $15bn for energy transition fund. (FS)
Brookfield Asset Management raised $15bn for its global energy transition fund to target investment opportunities relating to reducing greenhouse gas emissions and energy consumption.
The manager said the amount raised for the Brookfield Global Transition Fund makes the fund the world's largest private fund dedicated to facilitating the global transition to a net-zero carbon economy.
LGT Capital Partners holds the final close of Crown Asia-Pacific Private Equity V at $1.65bn hard cap. (FS)
LGT Capital Partners held the final close of Crown Asia-Pacific Private Equity V, its fifth private equity investment programme investing in the Asia-Pacific region, at the hard cap of $1.65bn and above the target fund size of $1bn.
?The fund’s investor base includes more than 50 institutions, including pension funds, insurance companies, university endowments and foundations in Europe, the United States, Canada, Australia and the Middle East.
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