Offen Petroleum acquires Petromark

Offen Petroleum (Offen), an independent fuel distributor, is acquiring the business assets of Petromark, a motor fuel distributor, and Petromark Transportation, its affiliate trucking company. Offen is a provider of motor fuel, propane, lubricants, and petroleum logistics services in 23 states in the Midwest and Western US The business combination further expands Offen’s footprint more deeply into Arkansas, Missouri, and ...

Bridge Industrial and PSP Investments Form Joint Venture for UK Logistics Investment

Bridge Industrial (“Bridge”) and the Public Sector Pension Investment Board (“PSP Investments”) today announced the establishment of a joint venture to acquire and develop logistics properties in the United Kingdom, targeting a portfolio value of £1 billion ($1.4 billion USD). The venture has a build-to-core focus, including the acquisition and development of last-mile logistics assets within high-barrier infill submarkets in ...

TA Associates Announces Strategic Growth Investment in InCorp Global

TA Associates, a leading global growth private equity firm, announced today that it has completed a majority investment in InCorp Global, a leading corporate services provider in Asia. InCorp’s Chief Executive Officer and Founder, Atin Bhutani, along with the existing management team will continue to lead the business and be shareholders alongside TA. Financial terms of the transaction were not ...

PE Firm Periscope Equity Completes Three Acquisitions to Form brightfin

Periscope Equity announced the launch of Brightfin, a new company formed from recent acquisitions of MobiChord, Visage, and Mobile Solutions. brightfin provides a unified platform to manage mobile, telecom (fixed), and cloud expenses, offered natively through ServiceNow or as a SaaS solution. IDC reports that Information and Communications Technology (ICT) spending is expected to continue its rapid growth with worldwide ...

Fieldfisher hires new Head of Funds

Private funds specialist, Dale Gabbert has joined European law firm Fieldfisher as Head of Funds. He joins from Simmons & Simmons where he was a funds partner since 2014, specialising in private equity, infrastructure, credit and hedge funds. Gabbert represents a diverse range of sponsors, from boutiques to banks, on fund establishment and advises sophisticated investors in funds including pension ...

North Sky Capital Targets $350 Million for Fourth Infrastructure Fund

Firm’s strategy includes investments in sustainable infrastructure and impact-focused secondaries Midmarket investment firm North Sky Capital is targeting $350 million for its fourth sustainable infrastructure fund, according to people familiar with the effort. Wayzata, Minn.-based North Sky, which traces its roots to Piper Jaffray Private Capital, manages money across two private investment strategies, one focused on sustainable infrastructure and the ...

Audax Collects $1.85 Billion for New Debt Fund

The mezzanine-focused fund is more than 50% larger than its predecessor Audax Private Debt, the debt financing unit of multistrategy investment firm Audax Group, has closed on $1.85 billion for its fifth mezzanine fund to target private-equity backed midmarket businesses. Commitments to Audax Mezzanine Fund V exceeded the firm’s fundraising target of $1.5 billion, Audax said. New York-based Audax Private ...

Perwyn Advisors opens new office in Paris

Perwyn Advisors is opening a permanent office in Paris, its first office outside the UK. Following two successful investments in France, the Paris office will act as a platform for further investments both in France and in neighbouring countries.  Antoine Vanderhulst, Partner, will be joined full time in Paris by John Gallagher, Investment Director, and Julie Pelcener, Associate. Perwyn’s first ...

Aurora Capital Partners acquires Grace Hill

Aurora Capital Partners (Aurora) is to acquire Grace Hill, a specialist in talent and customer management solutions for commercial and multifamily real estate covering policies, training, assessment and surveys, from investment funds managed by Stone Point Capital. The injection of capital and insights will better position Grace Hill to scale effectively. Specifically, Aurora plans to facilitate an intentional acceleration of ...

Park Square Capital raises EUR2.2bn for fourth subordinated debt fund

Park Square Capital (Park Square) has held the final closing of its fourth subordinated debt fund, resulting in total investable capital of EUR2.2 billion. Park Square Capital Partners IV and related vehicles (PSCP IV) raised EUR1.8 billion of equity commitments, exceeding its target of EUR1.5 billion. Including committed leverage, the strategy’s total investable capital is EUR2.2 billion. This represents an ...

ESG-focused Blisce Fund II holds first close

Blisce, a B Corp certified transatlantic growth VC fund that has previously backed ventures including Spotify, Pinterest and Headspace, has launched the new fund Blisce Fund II, with a final target of USD350 million. Blisce Fund II, which held its first close today at USD150 million, will make investments ranging from USD10 million to USD35 million, in American and European ...

KCP appoints new Partner

James Excell who joined private equity house Key Capital Partners (KCP) in 2016, has been promoted to Partner. Based at the firm’s London office, Excell works alongside Partners Mike Fell and Philip Duquenoy to source investment opportunities in profitable, dynamic SMEs across the UK. Since joining KCP five years ago, Excell has worked on several transactions including the management buy-out ...

Riverside Company acquires Radiant Plumbing

The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Radiant Plumbing and Air Conditioning, (Radiant), a provider of maintenance plumbing, sewer and HVAC services to nearly 12,000 residential customers annually in the Austin, Texas, metropolitan area. Since 1999, Brad and Sarah Casebier have owned and operated Radiant. Radiant’s employee-centric culture, ...

KKR to Invest in Charter Next Generation, Joining Leonard Green

Deal values specialty-films maker at more than $4 billion; private-equity firms will be equal owners KKR & Co. is investing in Charter Next Generation, joining fellow private-equity firm Leonard Green & Partners LP as an equal owner of the specialty-films business and pledging to give all of its employees stock too, officials at the firms said. The parties aren’t publicly ...

Carlyle Turns to SPX Capital in New Approach to Brazil

The U.S. asset manager is shifting staff to SPX Capital, which will subadvise Carlyle’s $776 million South America fund Carlyle Group Inc. is changing its investment strategy in Brazil by partnering with a local firm and focusing on large deals, as the asset manager seeks to simplify its operations world-wide. Carlyle will shift some of its five investment professionals in ...

US private equity player closes $1.2 billion energy transition fund

US private equity firm EnCap Investments has successfully closed its first energy transition fund, with commitments of about $1.2 billion. EnCap, which has traditionally specialised in oil and gas, created the fund to invest in companies aimed at advancing the energy transition in the US, with a focus on creating wind, solar and energy storage enterprises. It confirmed this week ...

Hellman & Friedman agrees to buy At Home Group

Private equity firm Hellman & Friedman agreed to buy At Home Group for around $2.4bn Thursday in a move that would take the home-decor retailer private. Under terms of the deal, which The Wall Street Journal reported Wednesday was imminent, At Home shareholders would receive $36 in cash for each share. That is a premium of around 17% above where the Plano, ...

Audax accumulates $1.9 billion with latest mezzanine debt fund

Audax Group closed its latest mezzanine debt fund, Audax Mezzanine Fund V, at $1.85 billion. The closing well exceeded its original fundraising target of $1.5 billion, a news release said Thursday. The previous fund, Audax Mezzanine Fund IV, closed at its hard cap of $1.2 billion in 2016, above its fundraising target of $1 billion. Audax Mezzanine Fund III closed ...

Affiliate of Blackstreet Capital Holdings, LLC Acquires Red Apple Stores Inc.

An affiliate of Blackstreet Capital Holdings, LLC (“BCH”) has acquired Red Apple Stores Inc. (“Red Apple” or the “Company”). Operating 142 stores under the “Red Apple” and “The Bargain! Shop” banners, Red Apple is Canada’s favourite small-town general merchandise retailer, offering big brands and big savings to its Customers. BCH is led by Murry Gunty, its Founder and Chief Executive ...

KKR Acquisition Holdings I Corp. Announces the Separate Trading of its Shares of Class A Common Stock and Redeemable Warrants Commencing May 7, 2021

KKR Acquisition Holdings I Corp. (NYSE: KAHC.U) (the “Company”) announced that, commencing May 7, 2021, holders of the units sold in the Company’s initial public offering of 138,000,000 units, may elect to separately trade the shares of Class A common stock and redeemable warrants included in the units. Those units not separated will continue to trade on the New York ...

BlackRock at Odds With Warren Buffett’s Berkshire Hathaway Over Disclosures

Shareholder proposals highlight tensions between asset managers promoting ESG disclosures and executives who are pushing back The world’s largest asset manager is in disagreement with the world’s most famous investor. BlackRock Inc. voted for two shareholder proposals that would require Warren Buffett’s Berkshire Hathaway Inc. to publish disclosures on how it manages climate risk and diversity efforts across its many ...

KKR, like private equity peers, swings to 1Q profit

Total revenue was $4.56bn, compared with negative revenue a year earlier of $1bn Private equity firm KKR reported a profit in the latest quarter as it reported positive investment income and revenue. The firm's profit before accounting for preferred stock dividends was $1.67bn compared with a loss of $1.28bn a year earlier. The firm's earnings attributable to the company per ...

KKR in talks with John Laing over possible takeover offer

Shares of John Laing Group jumped as much as 19% on Thursday after the company said that it is in takeover talks with KKR, but cautioned that there is no certainty any deal will be struck. The British investor and manager of infrastructure projects said that shareholders should take no action at this time. No further detail of the talks ...

ESG-focused Blisce Fund II holds first close

Blisce, a B Corp certified transatlantic growth VC fund that has previously backed ventures including Spotify, Pinterest and Headspace, has launched the new fund Blisce Fund II, with a final target of USD350 million. Blisce Fund II, which held its first close today at USD150 million, will make investments ranging from USD10 million to USD35 million, in American and European ...