Clinigen agrees to buyout; Advent buys Shiseido brands; PAG eyes AirPower sale

TOP NEWS IN PRIVATE EQUITY

* Clinigen Group PLC agreed to be acquired by private equity firm Triton Investment Management Ltd. in a deal valuing the entire issued and to-be-issued ordinary share capital of the pharmaceutical and services company at approximately £1.2 billion on a fully diluted basis.

* Advent International Corp., through a newly formed affiliate, closed the acquisition of cosmetic brands bareMinerals, BUXOM and Laura Mercier from Shiseido Americas Corp.

* PAG Asia Capital has held informal discussions with investors such as Macquarie Infrastructure and Real Assets for a potential sale of Chinese industrial gases company AirPower Technologies Ltd., Reuters reported, citing three people familiar with the situation. PAG is also weighing an IPO in Hong Kong for the business at $10 billion valuation, two sources told the news outlet.

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DEALS

* Veritas Capital Fund Management LLC is looking to sell Cotiviti Corp. at a valuation of over $15 billion, Bloomberg News reported, citing people with knowledge of the matter. Veritas was initially working with advisers for a possible listing of the healthcare information and analytics company but is now considering a sale because of volatility in equity markets, the people said.

* General Atlantic Service Co. LP and Softbank co-led the $220 million series B funding round for Incode, an identity verification and authentication platform. J.P. Morgan, Capital One Ventures, Coinbase Ventures, Silicon Valley CISO Investments and the founders of dLocal participated in the fundraising, along with existing investors DN Capital, 3L Capital, Framework Ventures, Dila Capital and others.

* Sixth Street Growth led Heap's series D funding round, which closed at $110 million, bringing the digital insights platform's valuation to $960 million. Goldman Sachs Asset Management's growth equity business participated in the round, along with existing investors NewView Capital, Menlo Ventures, DTCP, Triangle Peak Partners, Alliance Bernstein Private Credit Investors, Maverick Ventures and The Private Shares Fund.

FUNDRAISING

* L Catterton Partners is targeting a combined $7.75 billion for two new funds including for its 10th buyout fund, Dow Jones Newswires reported, citing people familiar with the matter. L Catterton X LP has a target of $6.5 billion and a new growth-investment fund aims to raise $1.25 billion.

VENTURE CAPITAL

* Israeli cybersecurity company Ironscales Ltd. closed a $64 million series C investment led by PSG, with participation from K1 Investment Management LLC and Jump Capital LLC.

* Insight Venture Management LLC led Torq Ltd.'s $50 million series B investment round. The security automation platform also received investment during the round from SentinelOne, GGV Capital LLC and Deer Management Co. LLC, or Bessemer Venture Partners.

* Eurazeo SE and Sapphire Ventures LLC co-led GitGuardian SAS's series B fundraising. The network security solutions provider raised $44 million during the round, which also saw participation from existing investors Balderton Capital (UK) LLP, Fly Ventures Management GmbH and Bpifrance Investissement SAS.

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