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

The private credit team of Adams Street Partners, a private markets investment firm with more than $58bn in AUM, has held the final closing of ASP Summa, a $1bn middle market collateralised loan obligation (CLO). The CLO is a first for Adams Street and was structured in partnership with American Equity Investment Life Insurance Company (American Equity Life), an issuer of fixed index annuities. ASP Summa was comprised of a high-conviction portfolio of senior loans issued by private equity backed mid-market companies and was originated through Adams Street’s private credit team. Get the wee ..read more

Bridgepoint, a listed private asset growth investor, has sold its investment in Dorna Sports, which holds the global rights to organise the MotoGP and WSBK Championships, to Liberty Media, in a transaction which values the company at €4.2bn. Bridgepoint has been an investor in the business since 2006, with the transaction representing a full realisation of existing stake along with that of Canada Pension Plan Investment Board (CPP Investments) and management, to Liberty Media, which holds the exclusive commercial rights for the FIA Formula One World Championship. Get the week’s top news del ..read more

Global alternative asset manager ICG, has completed the fundraising for its debut LP-led secondaries fund, ICG LP Secondaries I (LPS I), which specialises in acquiring buyout fund interests from limited partners, at its hard cap of $1bn. Including co-investment special purpose vehicles and separately managed accounts, total commitments to the fund, which was significantly oversubscribed, are $1.6bn. Get the week’s top news delivered directly to your inbox – Sign up for our newsletter Sign up LP Secondaries invests on a global basis, providing liquidity solutions to investors in third ..read more