Alternative asset management major Apollo Global Management has raised $35bn from Asian investors since implementing a plan to revamp its business in the region at the beginning of 2022.  Under the leadership Matthew Michelini, the man tasked with reshaping Apollo’s Asia operation, the firm has focused on meeting client demand for more reliable private market yields, including credit and hybrid financing. And its efforts have been rewarded with the company attracting significant capital from insurers and institutions that handle retirement funds in the region. Insurance companies alone ..read more

Apollo Global Management has agreed to help finance the acquisition of British song investor Hipgnosis Songs Fund for $1.4bn by Nashville-based music company Concord, through the provision of debt and a minority indirect equity interest in the deal. Under the proposed terms of the transaction, Hipgnosis shareholders, who have yet to approve the acquisition, will get $1.16 per share in cash, representing a premium of about 32% on Wednesday’s closing price, based on current exchange rates. Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up The ..read more

Ardian set to acquire over $1 billion of BCI’s private equity stakes amid market shifts and high interest rates. The transaction may close in the next few months, one of the people said, asking not to be identified discussing a confidential matter. The British Columbia fund, which manages the retirement savings of government workers in the Canadian province, was considering the sale of about $2 billion worth of Europe-focused investments and reducing its US positions to rebalance its portfolio and free up cash Get the week’s top news delivered directly to your inbox – Sign up for our n ..read more

Asset manager Blackstone known as AIR Communities, for $10 billion in cash, including debt, in what analysts see as a bet on easing pressure within the commercial real estate market. Under the deal, Blackstone will pay $39.12 for each share of the real estate investment trust, representing a premium of about 25% to its closing price on Friday. Shares of the REIT jumped about 23%. Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up Elevated interest rates have put pressure on landlords with loans on rental housing and other commercial real es ..read more

Funds advised by European mid-market private equity firm Triton Partners have agreed to acquire VolkerWessels Verbindingen en Netwerken (V&N Group), a provider of energy & utility, connectivity and building installation services in the Netherlands and Germany.  V&N Group is indirectly owned by Koninklijke VolkerWessels, the major European construction services business, and controls its energy, telecom and technical installation companies cluster. The provider employs over 3,100 and offers integrated solutions including feasibility studies, advice, design, installation ..read more

Triton Partners’s Triton Smaller Mid-Cap Fund I has agreed to sell European consumer data collection platform Nemas Holdco (Norstat) to Swedish private equity firm Nalka Invest, with Danish investment firm Kirk Kapital acting as a large minority shareholder.  Terms and conditions of the transaction have not been disclosed, and closing is subject to customary regulatory approvals. Triton Partners acquired Norstat in 2019. According to a press release, Triton supported the company in strengthening its commercial capabilities, internationalising its business through acquisitions, improvin ..read more

Orion Resource Partners, a global investment firm specialising in metals and materials, has sold an 8% minority interest in Sweetwater Royalties, a private industrial minerals royalty company, to a Canadian pension fund for $100m. The transaction implies an approximately $1.9bn enterprise value for 100% of Sweetwater Royalties, with Orion retaining a 67% majority ownership share in the asset, having sold a 25% stake to Ontario Teachers’ Pension Plan in March 2023 for approximately $220m. Sweetwater was established by funds managed by Orion (Orion Mine Finance) in 2020 to manage the long-ter ..read more

Specialist growth investment firm Verdane has acquired a majority equity stake in Corlytics, a provider of regulatory intelligence and policy compliance technology. The investment will support the Corlytics’s continued growth.  Verdane invested in Corlytics via its newly raised €1.1bn Edda III Fund. The firm currently has €6.9bn in committed capital for scaling tech-enabled growth businesses, according to a press release. As part of the investment, Corlytics will expand its board of directors with the addition of Simon Russell as Chair. Russell previously led technology inves ..read more

Healthcare IT firm Model N said on Monday it has entered into an agreement to be taken private by investment firm Vista Equity Partners for about $1.25 billion, sending its shares up 9.3% at $29.60 in premarket trading. Vista will acquire all the outstanding shares of Model N for $30 per share, according to the terms of the agreement, representing a premium of 10.7% to the company’s last close. Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up Model N provides revenue management software to the life sciences and high-tech industries. Its cu ..read more

US private equity firm Compass Group Equity Partners has closed Compass Group Fund III and hit its hard cap of $408m, the firm’s second oversubscribed fundraising in two years. According to a press release, the fund attracted “strong carryover” from investors in the firm’s previous fund, which closed in April 2022, having secured support from insurance companies, endowments, registered investment advisors, and foundations. Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up Since its first investment in 2015, Compass Group has invested in 14 ..read more