CVC taps banks for planned IPO; Summa Equity gets €2.3B for 3rd fund

TOP NEWS IN PRIVATE EQUITY

* CVC Capital Partners Ltd. tapped The Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley for its potential IPO, Bloomberg News reported Jan. 20, citing people familiar with the matter. The offering could value the private equity giant at more than $20 billion, according to the report.

* Sweden's Summa Equity AB raised approximately €2.3 billion at the final close of its third fund. The oversubscribed Summa Equity Fund III will incorporate the United Nations' Sustainable Development Goals framework into its investment strategy.

➤ Deals for renewables platforms send European power M&A to new heights in 2021

Nearly €80 billion of M&A transactions were recorded in the European power sector in 2021, including several major acquisitions of specialist renewables developers with lucrative project pipelines.

➤ MassMutual's $14B reinsurance deal reinforces industry's capital efficiency push

The company and various third-party investors have partnered to form a new Bermuda-based reinsurer that will initially help support an individual annuity business that grew substantially larger through a recent M&A deal.

DEALS

* The Carlyle Group Inc. is working with an adviser on its planned auction process for military contractor Titan Acquisition Holdings, Bloomberg News reported Jan. 20, citing people familiar with the matter. Titan, which is also owned by Stellex Capital Management LP, could be valued at $2 billion in the potential sale.

* York Capital Management's private equity group made a strategic growth investment in outpatient physical therapy company APT Healthcare. The investment, the value of which is undisclosed, is the fifth from the firm's middle-market private equity vehicle York Special Opportunities Fund III LP.

* SkyKnight Capital LP invested in financial services firm New Republic Partners Inc., which specializes in innovative investment, wealth advisory and credit solutions.

FUNDRAISING

* Carlyle is preparing to launch its Carlyle Europe Partners VI fund, which could target roughly €7.5 billion, Bloomberg News reported Jan. 21, citing people with knowledge of the matter. The fundraising could begin later in 2022.

* Artificial intelligence infrastructure company Aiquire Inc., or Pixis, raised $100 million in a series C funding round led by SoftBank Investment Advisers (UK) Ltd.'s SoftBank Vision Fund 2. General Atlantic Service Co. LP, Celesta Capital, PremjiInvest, Chiratae Ventures India Advisors Private Ltd. and Crimsonox Ventures also participated in the round.

* Thoma Bravo LP made an $85 million growth capital funding investment in Personetics Technologies Ltd., which offers an AI-based customer engagement platform for banks and financial services providers.

VENTURE CAPITAL

* Digital field management platform PlanRadar GmbH secured $69 million in a series B funding round. Insight Partners and Quadrille Capital co-led the round.

* Insight Partners also led the $56 million series C1 funding round of financial infrastructure company M2P Solutions Private Ltd. MUFG Innovation Partners Co. Ltd., Tiger Global Management LLC and Better Inc. also participated in the round.

SPACs

* H.I.G. Capital LLC's second blank-check company withdrew plans to raise $300 million in an IPO. H.I.G. Acquisition Corp. II filed for an IPO in March 2021 to sell 30 million units at $10 apiece, with each unit containing one common share and one-fourth of a warrant, exercisable at $11.50.

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