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Glendower Capital raises $5.8bn for the fifth global secondary PE fund. (FS)
StanChart and Ant Group to partner in green finance, global fund management.
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Private equity firms Francisco Partners and TPG agreed to acquire New Relic , a US-based Web tracking and analytics company, for $6.5bn.
"Ever since our founding over 15 years ago, New Relic has created and delivered groundbreaking innovations, with a maniacal focus on delivering a leading observability platform to help our customers deliver better software faster. We are pleased to partner with Francisco Partners and TPG, who are committed to continuing to build upon New Relic's strong foundation and achieve its full potential," Lew Cirne, New Relic Founder and Executive Chairman.
New Relic is advised by Qatalyst Partners , 富而德律师事务所 and Latham & Watkins (led by? Tad Freese ?and? Mark Bekheit ). Francisco Partners and TPG are advised by 高盛 , J.P. 摩根 , Moelis & Company , 摩根士丹利 , Davis Polk & Wardwell LLP (led by? Oliver Smith ?and? Darren Schweiger ), Kirkland & Ellis , 普衡律师事务所 and Sloane & Company (led by? Whit Clay ).
Apax , a global private equity advisory firm, and Fremman Capital , a private equity firm in London, agreed to invest in Palex Espa?a , a provider of medical technology solutions for healthcare professionals. Financial terms were not disclosed.
"We couldn't be happier to be partnering with Xavier and the wider Palex team, along with Fremman Capital. We have long identified the healthcare distribution sector as an ideal intersection between Apax's deep expertise in MedTech and strong track record of investment in distribution-focused businesses. Throughout our engagement, it became immediately clear to us that Palex is a stand-out operator with the potential to establish itself as a pan-European leader. Palex has consistently outperformed over decades, with an unrivaled reputation and offering, and we look forward to building on this success to date, leveraging our experience and insights to help the team accelerate growth and execute on our joint vision for the future," Frank Ehmer, Apax Partner.
Palex Medical is advised by 德勤 , 美国银行 and Dextra Corporate Advisors . Apax is advised by 瑞信 , Jefferies , Garrigues and Sullivan & Cromwell LLP . Fremman Capital is advised by Pérez-Llorca and Uría Menéndez .
One Rock Capital Partners, LLC , a private equity firm, agreed to acquire Constantia Flexibles , a manufacturer of consumer and pharmaceutical flexible packaging, from Wendel , a family-held investment company, for €1.1bn ($1.2bn).
"In recent years under Wendel's ownership, Constantia Flexibles transformed its business performance, developed an innovative pipeline of more sustainable products and completed multiple acquisitions. With diverse geographic and end market presence, the Company is well-positioned to continue expanding its suite of packaging solutions amidst regulatory developments and a changing climate, and we look forward to partnering with One Rock during this next chapter," Pim Vervaat, Constantia CEO.?
Constantia Flexibles is advised by Evercore and Willkie Farr & Gallagher LLP .?One Rock Capital Partners is advised by J.P. 摩根 , Latham & Watkins , and Prosek Partners (led by? Julia Kaufman ).
Glendower Capital raises $5.8bn for the fifth global secondary PE fund. (FS)
CVC Secondary Partners (formerly Glendower Capital) , CVC’s secondaries platform, has held the final close of its fifth global secondary private equity fund, Glendower Capital Secondary Opportunities Fund V, with aggregate capital commitments of $5.8bn.
Glendower operates in the private equity secondaries mid-market, targeting buyout fund investments managed by high-quality GPs. The fundraise concluded at the hard cap and represents the next stage of growth for Glendower’s two-pronged strategy in private equity secondaries, which provides balanced exposure to portfolio sales by LP investors as well as GP-led transactions.
StanChart and Ant Group to partner in green finance, global fund management.
China's 蚂蚁集团 and Standard Chartered will work together in green finance and global fund management, broadening their existing partnership,?Reuters?reported.
The deal is the first high-profile tie-up between Ant and a major foreign bank since authorities cancelled a planned mega-IPO by the fintech giant in 2020. StanChart will help Ant build "an industry-leading global liquidity and foreign exchange management structure," they said in a joint statement.
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