Deals

Kaiser Permanente shops ‘multi-billion dollar’ portfolio as pricing strengthens

The deal comes as LP secondaries sales keep steady and drive activity with strong pricing and sellers eager to capture liquidity from private equity portfolios.

Goldman Sachs, AlpInvest lead Cinven’s Barentz secondary

The continuation fund for global life science ingredients distributor Barentz is understood to be around €850m in size.

AlpInvest launches $2.3bn JV with Northwestern Mutual Capital – updated

The deal is an example of the kind of complex transactions LPs can use to capture liquidity from their private equity programmes at a time of slow exit activity.

USS runs large secondary sale with strong pricing in busy market

LP sales continue to drive secondaries activity as limited partners look for ways to capture liquidity from their illiquid PE portfolios amid a slowdown in distributions.

ICG explores single-asset continuation fund for fire protection asset

ICG and Kirkbi A/S acquired Minimax in 2014 with ICG and co-investors acquiring Kirkbi’s stake in 2018.

Coller, Ardian and Glendower emerge as backers of Permira’s multi-asset deal

Permira is moving five assets into a continuation fund including US customer experience solutions provider Genesys, which was previously part of a continuation fund transaction in 2020.

Goldman PE group runs big single-asset process on healthcare business

While demand among GPs for liquidity options to pay back LPs in older funds is strong, the limiting factor is the relatively small pool of capital available for such deals.

CVC seeks single-asset continuation fund for Italian university group

The buyout giant initially backed Multiversity in 2019 before acquiring 100% of the online university group in 2021.

Adams Street, Barings, Kline Hill co-lead on transportation asset CV

The deal involves transferring an asset to a continuation fund managed by TRP Capital, a lower mid-market player with no prior engagement in GP-led secondaries.

Vestar seeks liquidity from Circana investment in $1bn-plus single-asset deal

GP-led deals represented about 44% of the approximately $109bn in total volume last year, with single-asset transactions representing the majority of such deals.