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Private Equity

Stonepeak soars to increased hard cap close of $2.75bn for first renewables fund

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Infrastructure investment major Stonepeak has closed its first dedicated renewables fund raise at $2.75bn – more t

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/specialist-pe-sectors/stonepeak-soars-to-increased-hard-cap-close-of-2-75bn-for-first-renewables-fund.html

Private Equity

Navis primed for imminent Fund VIII close, raising new Continuation Fund – report

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Asian private equity house Navis Capital Partners is reportedly nearing an imminent final close for its eighth flagship fund, as well as raising a new continuation vehicle.

Navis has been eyeing up to $1.9bn for Asia Fund VIII since it was launched in late 2018, and is set to formally close the vehicle later this week according to DealStreetAsia, although it did not say where the information came from.

AltAssets revealed in January that Navis had extended the close of its eighth flagship fund until April.

A new regulatory filing submitted by the firm shows that it is raising Navis Asia Continuation Fund, a naming convention often associated with buying up remaining assets from soon-to-expire funds.

Navis closed its 2013-vintage seventh fund on $1.5bn. DealStreetAsia also made mention of a Navis Asia Green Loop Fund which it said would be formally announced this week, but did not provide further details.

Earlier this month Navis sold its controlling interest in specialty chemical provider Amazon Papyrus to fellow buyout firm Longreach Group after sailing through the Covid-19 pandemic with strong performance.

The company was sold at a market valuation of about $200m, according to market sources spoken to by AltAssets.

Copyright © 2021 AltAssets

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Source: https://www.altassets.net/private-equity-news/by-pe-sector/buyout/navis-primed-for-imminent-fund-viii-close-raising-new-continuation-fund-report.html

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Private Equity

Blackstone to acquire minority stake in fellow PE house GTCR through specialist GP stakes business

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Global buyout giant Blackstone has agreed to tap its specialist GP stakes fund to acquire a minority stake in fellow private equity house GTCR. The partnership will provide GTCR’s portfolio companies with access to Blackstone’s $150bn revenue base investment platform.

 Blackstone’s GP stakes business specializes in long-term partnership with leading private market alternative asset management firms. The firm will also offer internal services including ESG, sustainability, human capital management, cybersecurity, and product development capabilities to GTCR and its portfolio companies.

 

GTCR managing directors Collin Roche and Dean Mihas commented in a joint statement, “We are thrilled to have this opportunity to work with Blackstone as a passive minority investor in our firm. Blackstone is an exceptional institution and we expect they will bring resources and perspective that will help us as we continue to serve our limited partners, build our franchise and invest our funds over the long term.”

GTCR said the partnership will enhance its ability serve limited partners by working to generate strong and consistent investment returns through the disciplined application of our investment strategy.

Mustafa M. Siddiqui, head of Blackstone’s GP stakes business said, “GTCR has developed one of the most respected investment franchises in the private equity industry. The firm has a world-class group of leaders and investment professionals, a differentiated investment approach and a long history of success. I have been personally gratified to develop rapport with the GTCR team, and we look forward to our long-term partnership.”

Ward Young, GP Stakes managing director added, “Our top priority is to partner with the most successful general partners in private equity. We are especially impressed with GTCR’s strategy of investing in transformative growth behind talented executives. We are pleased to support GTCR’s ongoing success.”

Blackstone joined GTCR last month as majority shareholders in programmatic advertising and agency management software Simpli.fi in a deal that values the company at $1.5bn.

Last year GTCR reached a $7.5bn target-beating final close for its thirteenth flagship buyout fund after just five months of fundraising. The firm joined Reverence Capital Partners to carve out Wells Fargo’s asset management in a $2.1bn deal in February.

Copyright © 2021 AltAssets


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Click here to access.

Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/blackstone-to-acquire-minority-stake-in-fellow-pe-house-gtcr-through-specialist-gp-stakes-business.html

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Private Equity

Blackstone to acquire minority stake in fellow PE house GTCR through specialist GP stakes business

Published

on

Global buyout giant Blackstone has agreed to tap its specialist GP stakes fund to acquire a minority stake in fellow private equity house GTCR. The partnership will provide GTCR’s portfolio companies with access to Blackstone’s $150bn revenue base investment platform.

 Blackstone’s GP stakes business specializes in long-term partnership with leading private market alternative asset management firms. The firm will also offer internal services including ESG, sustainability, human capital management, cybersecurity, and product development capabilities to GTCR and its portfolio companies.

 

GTCR managing directors Collin Roche and Dean Mihas commented in a joint statement, “We are thrilled to have this opportunity to work with Blackstone as a passive minority investor in our firm. Blackstone is an exceptional institution and we expect they will bring resources and perspective that will help us as we continue to serve our limited partners, build our franchise and invest our funds over the long term.”

GTCR said the partnership will enhance its ability serve limited partners by working to generate strong and consistent investment returns through the disciplined application of our investment strategy.

Mustafa M. Siddiqui, head of Blackstone’s GP stakes business said, “GTCR has developed one of the most respected investment franchises in the private equity industry. The firm has a world-class group of leaders and investment professionals, a differentiated investment approach and a long history of success. I have been personally gratified to develop rapport with the GTCR team, and we look forward to our long-term partnership.”

Ward Young, GP Stakes managing director added, “Our top priority is to partner with the most successful general partners in private equity. We are especially impressed with GTCR’s strategy of investing in transformative growth behind talented executives. We are pleased to support GTCR’s ongoing success.”

Blackstone joined GTCR last month as majority shareholders in programmatic advertising and agency management software Simpli.fi in a deal that values the company at $1.5bn.

Last year GTCR reached a $7.5bn target-beating final close for its thirteenth flagship buyout fund after just five months of fundraising. The firm joined Reverence Capital Partners to carve out Wells Fargo’s asset management in a $2.1bn deal in February.

Copyright © 2021 AltAssets


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/blackstone-to-acquire-minority-stake-in-fellow-pe-house-gtcr-through-specialist-gp-stakes-business.html

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Private Equity

TPG hauls in $5.4bn for first close of new climate investment fundraise

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Private equity giant TPG has raised an impressive $5.4bn for the first close of its debut fund specifically targeting cl

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.altassets.net/private-equity-news/by-pe-sector/venturegrowth/tpg-hauls-in-5-4bn-for-first-close-of-new-climate-investment-fundraise.html

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