Deals

TPG’s exit of CAA returns around 2x MOIC for continuation fund investors

TPG sold talent agency giant CAA to Artémis, the Pinault family’s investment company, in September.

Ardian, Roc co-lead Aussie single-asset process on healthcare asset

Crescent Capital Partners is moving an Australian healthcare recruitment business into a separate vehicle.

CPP ran structured energy secondaries process in Q3

The pension collected about $860m from the deal, which was its largest disclosed secondaries transaction during the quarter.

Neuberger, Lexington co-lead Wellspring continuation fund process

The multi-asset transaction includes SupplyOne, a maker of packaging supplies, equipment, safety products and janitorial supplies.

Verdane picks up five German tech companies from HQ Equita

The Fairview-advised transaction provides liquidity to LPs, continuity for HQ Equita and follow-on capital for each of the companies.

AnaCap runs GP-led on assets alongside separate M&A processes

The financial software and services investor is using a continuation fund to re-invest in two assets it agreed to partially exit this year.

Big names back Alpine’s banner $3bn-plus continuation fund

The software and services industries-focused firm has moved home and commercial services platform Apex Service Partners into a continuation fund in one of the largest deals of the year.

K1 runs process to move three assets, including ReThink, into continuation fund

While activity on the GP-led side has been slower, several large deals have gotten done with buyers choosing to work with high-quality assets managed by firms they know well.

GP-led secondaries begin to gain track record with returns beyond 2x – PJT

Traditional LPs contemplating GP-led focused funds have been intent on identifying examples of fully crystallised continuation funds in recent years.

PGGM runs large secondary on its private equity portfolio as LP sales dominate

Pricing for secondaries has improved to a net-asset-value level of around 90% for buyout funds.