Category Archives: WEEKLY SPIN

Just the medicine

It has been reported by the Times that Ireland’s Chanelle Pharma is being vetted ahead of a potential acquisition by UK private equity group, Exponent. Based in Galway, the generic drugmaker is being valued at a deal price of around EUR300 million. It is believed that HIG and Duke Capital were also ‘farming’ to do a deal with the pharmaceutical company, which Michael Burke established four decades ago. Over the years it has built a stable of veterinary licenses for some 3,000 animal medicines across the EU. Exponent will be hoping this deal is just the medicine, as deal activity for the industry at large looks to pick up in 2023. Watch ahead as the Emerald Isle looks set to deliver a gem in Q1.

inspired by the Irish Times

Deal bonanza

Whisper it quietly but there is a sense among PE executives that deal flow could be about to turn for the better rapidly. Buyout investors are keen to see realizations as they prepare to reinvest capital in new fund vintages. All of this could lead to GPs accepting lower prices on investments, generating a much-needed rebound in deal activity. Funnily enough, ‘Getting Deals Done’ is precisely the theme we’ll be exploring this week at IPEM Cannes 2024! If there are more buyout shops willing to accept lower prices, the deal flow tap will likely benefit all market participants, and hopefully bring a bit more ‘fun’ to PE fund investing in 2024. We certainly hope so.

inspired by the Financial Times

Turning a new leaf

Northern Trust’s investment in Novata, a private market data start-up, could help the industry turn a new leaf on ESG benchmarking. The investment is aimed at enhancing Northern Trust’s ESG data management capabilities, at a time when investors are looking for more (northern) light on ESG benchmarking as they analyze portfolio performance. Novata’s ESG data collection services are expected to play a key role in providing an ‘eco boost’ for Northern Trust as it responds to investor demand for ESG data. They’ll be hoping this enhanced sustainability capability will help investors relax and start to feel the benefits of an improved ‘green’ diet!

inspired by FinTech Global

Etched in stone

Blackstone, the world’s biggest alternative asset manager, has raised an initial $1.3 billion for a new private equity fund tailored for wealthy individual investors. The fund – Blackstone Private Equity Strategies (BXPE) – is further evidence of Blackstone’s decade-long push to diversify its investor base beyond large institutions, as it looks to build its private wealth client book. Blackstone is not the only group to think, ‘All hail retail!’ with Carlyle Group and Apollo also taking strides to offer investment funds to private investors. This could be the next step in solidifying Blackstone’s market-leading reputation, and more broadly, private equity’s appeal with the masses.

inspired by The Financial Times

Edison shines a light

Happy New Year! With 2023 now behind us, many will be hoping that the next 12 months bring plenty of opportunities to do deals and recapture PE’s magic. Data by Edison shows that there are approximately 16 to 17,000 private equity and VC-backed firms. By contrast, the number of US public firms has dropped from 7,000 to less than 5,000 since the start of the century. As the private markets universe expands, GPs will look to shine bright like a diamond in 2024, as they seek out take-private deals, corporate carve-outs and family-owned businesses. Who knows how many ‘lightbulb’ moments could arise, as GPs get creative with their deal sourcing approach? Factor in a feeling of optimism on Wall Street that the US Federal Reserve will cut rates at some point in 2024, and…whisper it quietly, the PE industry might find itself whistling ‘let it grow, let it grow, let it grow’. Okay, bad joke – but hey it’s the New Year!

inspired by Trustnet