AMERICAS
Crescent Acquisition, a publicly-traded special purpose acquisition company, agreed to merge with LiveVox, a cloud-based provider of customer service and digital engagement tools, in an $840m deal. Upon closing of the transaction, LiveVox will become a publicly-traded company, and its common stock will be listed on NASDAQ under the symbol "LVOX".
"We capitalize on the growing need for support agents to provide an unparalleled customer experience with our unique solutions platform. Our full-service offering allows our clients to provide their customers with the exceptional relationship management they deserve along with the safety, security and ease of integration they have long come to expect," Louis Summe, LiveVox CEO.
LiveVox is advised by Goldman Sachs, Jefferies & Company, Stifel, Kirkland & Ellis and ICR. Crescent Acquisition is advised by Bank of America Merrill Lynch, Credit Suisse, Skadden Arps Slate Meagher & Flom, Addo Investor Relations and Mendel Communications. Golden Gate Capital is advised by Sard Verbinnen & Co.
Sixth Street, a private equity firm, completed a $500m investment in Convex Group, a specialty insurer and reinsurer.
"We are pleased to be partnering with the Sixth Street team to strengthen our position even further in today's cyclically advantageous market environment. This significant additional capital provides us with greater flexibility as we continue our recent momentum in growing our business," Stephen Catlin, Convex CEO.
Convex was advised by Evercore, JP Morgan, Appleby, Slaughter & May and Haggie Partners. Sixth Street was advised by Goldman Sachs, Conyers Dill & Pearman, Willkie Farr & Gallagher and Nepean.
Private equity firm TA Associates completed the investment in OmniActive Health Technologies, a provider of scientifically-validated, natural nutraceutical ingredients. Financial terms were not disclosed.
"We are pleased to welcome TA Associates as a strategic investor and partner for the next phase of OmniActive's growth journey. We believe that TA has deep capabilities and experience investing in companies focused on nutritional ingredients, and shares OmniActive's vision of bringing innovative, natural and science-based solutions to our customers and end consumers. We intend to leverage our strong management capabilities and TA's distinctive M&A sourcing engine to drive programmatic M&A and in-licensing to continuously deliver innovation to our customers," Sanjaya Mariwala, OmniActive Founder, Executive Chairman and Managing Director.
OmniActive Health Technologies was advised by KPGM, Investec, DSK Legal and Wright on Marketing. TA Associates was advised by PricewaterhouseCoopers, Houlihan Lokey, Shardul Amarchand Mangaldas & Co and BackBay Communications.
Hudson Executive Investment, a special purpose acquisition company, agreed to merge with Talkspace, a digital and virtual behavioral healthcare company, in a $1.4bn deal. Additionally, the deal will be funded via a $300m pipe investment from Federated Hermes Kaufmann Funds, Jennison Associates, Woodline Partners and Deerfield. The transactions is expected to close late in the first quarter or early in the second quarter of 2021, subject to receipt of HEIC stockholder approval, and the satisfaction of other customary closing conditions.
"Talkspace is a purpose-built technology company designed to meet the unmet medical needs in behavioral health by improving access, decreasing costs, improving outcomes, and creating value for patients, providers, and employers. We are excited to be partnering with Talkspace's exceptional management team and look forward to working together with them," Douglas L. Braunstein, Hudson Executive Capital Founder and Managing Partner.
Talkspace is advised by JP Morgan, Jefferies & Company, Latham & Watkins and Westwicke. Hudson Executive Investment is advised by Citigroup, Milbank and Gladstone Place Partners.
Acacia Communications, an optical component maker, agreed to Cisco Systems' increased offer of $4.5bn. The revised deal for $115 per share in cash represents a premium of about 33% to Acacia's last closing price on Wednesday.
"We maintain our strong conviction in the strategic benefits of joining the Cisco family and believe it will enable us to better support our existing customers, while reaching an expanded footprint of new customers globally. We are pleased to have reached this agreement with Cisco and are excited to move forward with the combination which we believe will transform the optical industry, while providing great opportunities for Acacia employees to continue their innovation," Raj Shanmugaraj, Acacia President and CEO.
Acacia is advised by Goldman Sachs and WilmerHale. Cisco is advised by Morgan Stanley, RBC Capital Markets and Fenwick & West. Morgan Stanley and RBC Capital are advised by White & Case.
Google, the search engine giant, completed the acquisition Fitbit, a manufacturer of fitness tracking devices, for $2.1bn in cash.
"Together, we can make health and wellness more accessible to more people. We're confident the combination of Fitbit's leading technology, product expertise and health and wellness innovation with the best of Google's AI, software and hardware will drive more competition in wearables and make the next generation of devices better and more affordable," Rick Osterloh, Google Senior Vice President.
Fitbit was advised by Qatalyst Partners, Fenwick & West and Sard Verbinnen & Co. Qatalyst Partners was advised by Cooley. Google was advised by Lazard and Cleary Gottlieb Steen & Hamilton.
BridgeBio Pharma, a company focused on genetic diseases, and Eidos Therapeutics, a clinical-stage biotech company, are set to complete their merger on January 26, and expect to receive shareholder approval during meetings scheduled for January 19.
"Bringing Eidos fully back to BridgeBio positions us to invest in all opportunities around acoramidis, including subsequent studies to potentially broaden the evidence for its usage, and accelerate its commercial development using BridgeBio's established infrastructure. We are excited to welcome acoramidis back into an ecosystem where cutting-edge science is being done across inherited diseases and targeted oncology," Neil Kumar, BridgeBio Founder and CEO.
Eidos Therapeutics is advised by Centerview Partners and Cravath Swaine & Moore. BridgeBio Pharma is advised by Goldman Sachs, JP Morgan, Morrow Sodali Global and Skadden Arps Slate Meagher & Flom.
AeroVironment, which provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity, agreed to acquire Arcturus UAV, a provider of unmanned aircraft systems, for $405m.
"We are excited about the opportunities for value creation through our acquisition of Arcturus UAV, which will enable us to accelerate our growth strategy and expand our reach into the more valuable Group 2 and 3 UAS segments," said Wahid Nawabi, AeroVironment President and CEO.
Arcturus UAV is advised by Evercore and Hogan Lovells. AeroVironment is advised by Jefferies & Company, K&L Gates and Joele Frank.
BancorpSouth Bank, a bank holding company headquartered in Tupelo, Mississippi, agreed to acquire FNS Bancshares, the parent company of FNB Bank, for $108m.
"We are excited about this partnership and look forward to welcoming FNS's teammates and customers to BancorpSouth. FNS is a 120-year-old institution with deep ties in its local markets and is an ideal fit with our culture as a relationship-driven community bank. We're looking forward to working with its experienced team of bankers to assist even more families and businesses with their banking needs," Dan Rollins, BancorpSouth Chairman and CEO.
FNS Bancshares is advised by Janney Montgomery Scott, Keefe Bruyette & Woods and Fenimore Kay Harrison & Ford. BancorpSouth Bank is advised by Alston & Bird and Waller Lansden Dortch & Davis.
Trilantic, a private equity firm, completed the investment in Orva, a full-service e-commerce platform specializing in the sale of footwear, apparel, accessories and home products from leading consumer brands. Financial terms were not disclosed.
"The Orva team has continued to demonstrate their ability to nimbly adapt the company's business model amid major disruption over the course of its nearly 70-year history and is effectively capitalizing on the retail industry's accelerating shift toward e-commerce. The value Orva's unique merchandising strategy brings to partners and customers alike is evidenced by its long-term, trusted brand relationships and the success of its high-growth platform. We look forward to working alongside the founding family to support Orva through its next phase of growth," Jamie Manges, Trilantic Partner.
Orva was advised by Lincoln International and Weil Gotshal and Manges. Trilantic was advised by Kirkland & Ellis and Prosek Partners.
Brentwood Associates, a Los Angeles-based private equity investment firm, completed the investment in MedBridge, a provider of patient engagement and clinical education solutions. Financial terms were not disclosed.
"MedBridge has done an incredible job of supporting its customers to improve healthcare delivery and patient outcomes in both in-person and virtual settings. We look forward to working with LLR Partners as well as Justin and the team at MedBridge as they continue to develop new and innovative solutions to support providers and patients across the healthcare landscape," Craig Milius, Brentwood Partner.
MedBridge was advised by Aeris Partners and Morgan Lewis & Bockius. Brentwood Associates was advised by DC Advisory and DLA Piper.
TD Bank Group, a Canadian multinational banking and financial services firm, agreed to acquire the Canadian Direct Equipment Finance business from Wells Fargo, an American multinational financial services company. Financial terms were not disclosed. The transaction is expected to close in the first half of 2021, subject to receipt of regulatory and Competition Act approvals and clearance, and satisfaction of other customary closing conditions.
"We are excited to welcome Wells Fargo's Canadian Direct Equipment Finance team of highly skilled and experienced industry professionals to TD and leverage their deep expertise in equipment leasing and finance for the benefit of our highly-valued customers nationwide," Darren Cooke, TD Bank Group Vice President.
Wells Fargo is advised by Wells Fargo Securities and McCarthy Tetrault. TD Bank Group is advised by Osler Hoskin & Harcourt.
Private equity firm Charlesbank Capital Partners completed a $50m investment in Healthcare Fraud Shield, a fraud detection software provider.
"We are delighted to partner with the Company and its outstanding management team during this phase of accelerated investment and growth. The Company's proprietary rules, datasets, AI models and workflow solutions are highly unique and effective. We are excited to support the Company's continued investment in its technology, its artificial intelligence capabilities, and most importantly, its people," Darren Battistoni, Charlesbank Managing Director.
Healthcare Fraud Shield was advised by Leonis Partners. Charlesbank Capital Partners was advised by Mintz Levin.
SFW Capital, a specialized private equity firm, completed the investment in Caron Products and Services, a provider of laboratory equipment. Financial terms were not disclosed.
"Caron exhibits key characteristics that we look for in laboratory and life sciences tools platform companies: proprietary technology, high value proposition, deep domain expertise and significant opportunities for expansion through organic and inorganic growth. We are excited to partner with Steve, Dave, and the entire Caron team and provide them with the resources and capital to support their growth plan and accelerate their trajectory through strategic acquisitions of complementary businesses," Ahmad Sheikh, SFW Partner.
SFW Capital was advised by Stanton PRM.
Investment firm Tinicum completed the investment in Robert Family Holdings, a diversified global manufacturer of highly specialized industrial solutions. Financial terms were not disclosed.
"Advantek, Continental Disc, and Dexter are leaders within their respective industries because they diligently satisfy customer needs with engineered solutions and high standards of service. Tinicum is a long-term business owner, and we look forward to supporting these businesses in pursuit of their strategic plans and continued growth," Michael Donner, Tinicum Partner.
Tinicum was advised by Morrison & Foerster.
Periscope Equity, a private equity firm, agreed to invest in Welfare & Pension Administration Service, a provider of third-party administrative services. Financial terms were not disclosed.
"Throughout the diligence process, it was clear to the entire management team that Periscope would be the best fit for our employees, clients, and members given their experience within the Taft-Hartley end market and with companies providing innovative managed healthcare services. I am looking forward to witnessing the exciting new offerings that WPAS will develop in the next few years, and the growth we will achieve together," Dennis Kirkpatrick, WPAS CEO.
C9 Capital, a venture capital firm focused on early-stage investment and acquisitions, completed the acquisition of EquityNet, a business crowdfunding marketplace. Financial terms were not disclosed.
"EquityNet is an exciting acquisition for us. EquityNet was the first crowdfunding marketplace in North America, and it is positioned to lead the industry again, given its significant user base and scale, and its patented crowdfunding technologies," Ryan Barton, C9 Capital Managing Director.
VTG, a provider of force modernization and digital transformation solutions, agreed to acquire Intelligent Shift, a provider of innovative technologies and digital solutions to the US Intelligence Community. Financial terms were not disclosed.
"Intelligent Shift has always been focused on an industry-best employee culture and a commitment to customer missions. In VTG, we've found a partner that shares these passions. The combined company will expand our ability to drive smart change for our customers and will create new opportunities for our employees while strengthening our culture," Mike DeFede, Intelligent Shift Co-Founder.
Investment firms Coatue and Tiger Global led a $300m Series G round in Blend, a provider of digital lending solutions.
"2020 was a big year of change for the banking industry. Stay at home orders and social distancing mandates accelerated digital adoption faster than anyone could have expected. Blend has been at the forefront of this revolution, helping banks rapidly meet the changing needs of their customers," Kris Fredrickson, Coatue Managing Partner.
Accel and Silversmith led a $140m Series B round in Webflow, an American company, based in San Francisco, that provides software as a service for website building and hosting.
"This fundraise is an inflection point for our company, our team, and our customers. It cements Webflow's ability to create an organization and legacy that can last not just years, but generations," Webflow.
Cargill in talks to divest global sugar trading business.
Cargill, an American global food corporation, is in talks to divest Alvean, a sugar trader, to Brazilian partner Copersucar. Financial terms were not disclosed, but the deal announcement, if finalized, is expected to happen in the first quarter.
"Both shareholders are discussing an agreement in which Copersucar will become the sole owner, acquiring Cargill's shares in Alvean. As soon as a deal is concluded, we will communicate," Copersucar.
Citigroup combines wealth management businesses into one unit.
Citigroup created a single wealth management business, Citi global wealth, to deliver products and services to clients from the affluent segment and ultra-high net worth individuals,
Reuters reported.
The new unit, formed by combining wealth management teams in global consumer banking and the institutional clients group, will be led by Jim O'Donnell and will include the Citi private bank and Citi personal wealth management.
Petco Health and Wellness raises $817m in IPO. (FS)
Petco Health and Wellness, a pet retailer, said it raised c. $817m in IPO, selling each share for $18, above its target share value. It aimed to sell 48m shares in the range of $14-$17.
The company, which is owned by investors Canada Pension Plan Investment and CVC Capital Partners, is now valued at $4bn. The IPO shows that investors appetite for IPOs in 2020 has been passed onto 2021.
Goldman Sachs and Bank of America Merrill Lynch acted as underwriters for the listing.
Winklevoss twins consider IPO for Gemini Trust.
Cameron and Tyler Winklevoss, Bitcoin billionaires, consider taking public their Gemini Trust, a regulated cryptocurrency exchange, wallet, and custodian, in order to capitalize on increased interest in cryptocurrencies.
"We are definitely considering it and making sure that we have that option. We are watching the market and we are also having internal discussions on whether it makes sense for us at this point in time. We are certainly open to it," Cameron Winklevoss, Gemini Trust Co-Founder and President.
Silver Lake raises $20bn for its sixth buyout fund. (FS)
Silver Lake raised about $20bn for its buyout fund, Silver Lake Partners VI, as the technology-focused private equity firm looks to focus on large-scale investments.
Neuberger Berman closes fourth co-investment fund above target at $2.1bn. (FS)
Neuberger Berman, a private, independent, employee-owned investment manager, announced it closed NB Strategic Co-Investment Partners IV above its target on over $2.1bn of commitments.
Fund IV will seek to build a diversified portfolio of direct co-investments in buyout and growth equity transactions alongside high-quality private equity sponsors.
Excelsior closes a $504m maiden renewables fund. (FS)
Excelsior Energy Capital, a renewable energy investor, closed its inaugural renewable energy investment fund at the $504m mark. Excelsior Renewable Energy Investment Fund I will make equity investments in middle-market wind and solar power plants in the US and Canada.
Probitas Partners, Consilium Capital, and The Trinity Group were placement agents for the fund.
O2 Investment Partners closes third fund at $270m mark. (FS)
O2 Investment Partners, a private equity firm investing in growth-oriented, privately-held businesses in the North American lower middle market, announced the final closing its third fund at a $270m mark.
"In our view, the timing of Fund III is excellent as we continue to see significant deal flow. Fund III just closed its third platform investment and has a strong pipeline of new opportunities," Todd Fink, O2 Managing Partner.
EMEA
RWC, KAZ Minerals' top investor, urges its board to scrap a proposed $3.9bn buyout from the Kazakh copper miner's chairman. RWC Partners stated that the deal process should be terminated, as it's "inconceivable" that minority investors will accept the offer of $0.87 per share.
"We think the bid will fail as it materially undervalues the company," James Johnstone, RWC Co-Head of emerging and frontier markets.
KAZ Minerals is advised by Citigroup, UBS, Linklaters and Brunswick Group. Nova Resources is advised by VTB Capital and Clifford Chance. VTB Capital is advised by Latham & Watkins, Macfarlanes and Walkers.
Ardian and BNP Paribas Développement, the investment arm of BNP Paribas, agreed to invest in Proteor, a manufacturer and distributor of prosthetics and orthotics. Financial terms were not disclosed.
"Proteor is a French flagship in external orthopedics, which has been able to expand thanks to innovative solutions particularly adapted to patients' needs. We are pleased to be partnering with the company in this new phase of international development and consolidation of its technological assets and help Proteor become one of the world leaders in its market," Alexis Saada and Frédéric Quéru, Ardian Managing Director.
Proteor is advised by Advance Capital, Bank Neuflize OBC Company Anonyme and Alcya Conseil. BNP Paribas is advised by Eight Advisory, De Gaulle Fleurance & Associes and McDermott Will & Emery. Ardian is advised by Headland Consultancy.
Credito Valtellinese, an Italian bank, said it will consider all strategic options that would create value for shareholders ahead of providing its opinion on the $875m takeover bid launched by Credit Agricole.
"The board will continue to work with the aim of pursuing value creation for all Creval's shareholders, without neglecting any strategic option and emphasising the results achieved by the bank," Credito Valtellinese Board.
Creval is advised by Intermonte and Mediobanca. Credit Agricole Italy is advised by Credit Agricole, JP Morgan, BonelliErede and Cleary Gottlieb Steen & Hamilton.
Private equity firm Vitruvian Partners agreed to invest €100m ($122m) in Carne, the digitally-driven platform for the asset management industry.
"At Carne our goal is to provide asset managers and institutional investors with solutions that lead to better investor outcomes. We are focused on transforming the asset management industry through our proprietary CORR technology, hiring the best talent globally, and building client-led, trusted solutions. In Vitruvian, we found a partner with a shared vision and the experience and intellectual capital to help us bring further innovation to the industry. Together we can build and deliver better outcomes resulting in a win-win for both asset managers and investors," John Donohoe, Carne Founder and Group CEO.
Carne is advised by Powerscourt. Vitruvian Partners is advised by Ernst & Young.
HH Global, global marketing execution partner, agreed to acquire the Marketing Services unit of GB Group, the identity data intelligence specialist. Financial terms were not disclosed.
"We are pleased to have found a very capable new owner for our Marketing Services team and customers. HH Interactive has the capability to provide a rich set of marketing-related services and can respond more completely to the increasing needs of our marketing services customers," Chris Clark, GBG CEO.
GBG is advised by Peel Hunt and Tulchan Communications.
Accel, an American venture capital firm, led a $160m Series D funding round in Sennder, a digital road freight logistics firm. The round was joined by Lakestar, Earlybird Venture Capital, HV Capital, Project A and Scania.
"It is always fantastic to see a portfolio company reach such a significant milestone. Well done to the sennder team – by revolutionizing the freight industry at an unprecedented pace, they have quickly become one of Europe's most exciting companies. 2020 highlighted the value that sender's innovative digital offering brings to the freight industry. 2021 is well-positioned to be another exciting year for the business. We look forward to helping sennder continue accelerating its growth across Europe," Sonali De Rycker, Accel Partner.
Sennder was advised by JP Morgan. Earlybird was advised by BMH BRAUTIGAM.
Coatue led a $300m Series D round in Rapyd, a Fintech as a Service company, with participation from Spark Capital, Avid Ventures, FJ Labs, Latitude, General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital.
The company intends to use the funds to double the engineering and product teams, expand the "Self-Service" element of the platform, and grow in core markets that serve B2C and B2B eCommerce payments, marketplace, and financial services businesses.
France opposes $20bn offer for Carrefour from Couche-Tard.
A $20bn offer from Couche-Tard, a convenience-store operator in Canada, for European retailer Carrefour hit the early roadblock from the French government that raised concerns regarding food independence and job security. The opposition could reportedly be a move to buy time to study the transatlantic retail deal, rather than regular disagreement.
Couche-Tard submitted a non-binding offer to Carrefour, valuing the company at $19.7bn. After the announcement, Carrefour and Couche-Tard stock gained and fell 17% and 11.6%, respectively.
SoftBank-backed Auto1 plans $1.2bn IPO.
SoftBank-backed Auto1, a German online car dealer, plans to raise $1.2bn in an IPO, in turn letting its backer cash in on the investment.
75% of the raised capital would go back into the business and in its used-car platform in particular. Following the listing, the value of the company is expected to reach $7.3bn.
Advent-backed InPost plans an IPO in Amsterdam. (FS)
Advent-backed InPost, a Polish parcel locker firm, plans an IPO in Amsterdam in February in an attempt to expand abroad to reap the rewards from the surge in online purchases.
"Our proposed listing on Euronext will mark the next phase of our development as we expand our business internationally and build on the strong momentum we have generated to date. The intention is to potentially become listed in February, if all goes well," Rafal Brzoska, InPost CEO.
Truecaller plans $1bn IPO, hires CFO. (People)
Truecaller, a Swedish mobile phone directory and caller identification service, hired a CFO as it plans to go public as early as the end of this year,
Reuters reported.
Odd Bolin, Truecaller's new finance chief, was previously group CFO at Swedish cloud computing services provider Sinch, a company which he helped to take public. The company is aiming for a valuation of more than $1bn.
APAC
City Index Eleventh, a Japanese fund, plans to make a $173m offer for Japan Asia Group, a Tokyo-based holding company, beating the $116m offer from the existing bidder, The Carlyle Group.
Previously, Carlyle teamed up with Tetsuo Yamashita, JAG Chairman and CEO for a management buyout that includes, besides JAG, two of its businesses worth $140m. City Index Eleventh, a minority shareholder in JAG, said Carlyle's offer undervalued the company and asked to raise the price.
Yutong Group led a $310m Series B round in WeRide, an autonomous driving mobility company, with participation from CMC Capital Partners, CDB Equipment Manufacturing Fund, Hengjian Emerging Industries Fund, Zhuhai Huajin Capital, Tryin Capital, Qiming Venture Partners, Sinovation Ventures and Kinzon Capital.
"In the year 2021, more leading investors and partners are joining us, bringing in their strategic resources to fulfill the goal of commercializing self-driving technology. WeRide is capturing the upward trend in the development of AI-empowered mobility industry, and further accelerates R&D and the commercialization of our technologies. We will strengthen the stability and safety of self-driving systems, operate our services while adhering to regulations, and strive to bring more self-driving products to the market. We firmly believe that this technology will make the world better for everyone," Tony Han, WeRide Founder and CEO.
KKR, Carlyle and Bain among potential bidders for Hitachi Metals. (FS)
Three private equity firms were shortlisted as potential next-round bidders for metals subsidiary of an industrial conglomerate Hitachi,
Bloomberg reported.
Bain Capital, Carlyle Group and KKR are poised to make separate offers. Simultaneously, the deadline for the second round of bids has been set for the middle of February. Public-private fund Japan Investment and investor Japan Industrial Partners are reportedly exploring teaming up with any of the funds.
UBS considers $400m investment in Paytm.
UBS Group is in talks to invest $400m in Paytm, an Indian digital payments startup.
The fund ran by UBS asset management arm would invest alongisde some of the Swiss bank's clients. UBS aims to finalize an agreement as soon as this month. Paytm reportedly is not raising any new capital as part of the deal.
Kuaishou Technology received approval for $5bn IPO.
Kuaishou Technology, the main rival to Tik-Tok parent ByteDance, received approval from the Hong Kong stock exchange for a $5bn IPO,
Bloomberg reported.
The Tencent Holdings-backed short video startup plans to begin gauging demand for its IPO as soon as next week. Kuaishou is angling for a valuation of $50bn, almost twice the recent estimate.
PPT plans $1.8bn IPO.
PPT, a Thai state-owned SET-listed oil and gas company, said its oil and retail unit plans an IPO that could raise up to $1.8bn. Final pricing of the IPO will be determined by February 3, 2021.
The company said the preliminary price for each share in the listing would be around $0.5-$0.6, selling up to 3bn shares in its stock-exchange filing.
PTT is advised by Kasikorn Securites.
Carlyle-backed Adicon in talks for a new funding round ahead of IPO. (FS)
Carlyle-backed Adicon Clinical Laboratories, a Chinese lab operator, is in talks with investors to raise a new round of funding before its planned initial public offering in Hong Kong,
Bloomberg reported.
BlackRock, Malaysia's Khazanah Nasional, and Mirae Asset (Hong Kong) are among investors that the company discusses fundraising with. Adicon is planning to raise at least $60m in the new round, which would value the business at more than $1bn.
Sequoia Capital-backed Indigo Paints fixed the price for its $203m IPO. (FS)
Sequoia Capital-backed Indigo Paints, a paint company, fixed the price for its $203m IPO at approximately $20.4 per share.
The IPO will be available for subscription starting January 20, 2021 and last until January 22, 2021. As part of the IPO, the backer of Indigo Parts, Sequoia Capital, will make an offer-for-sale of up to c. 6m equity shares in the target.
KKR closes its first Asian real estate fund at $1.7bn. (FS)
KKR announced the final closure of KKR Asia Real Estate Partners, a $1.7bn fund focused on opportunistic real estate investments in the Asia Pacific.
"Asia Pacific's real estate sector needs sophisticated investment and innovative operational solutions to meet the high demand for modernized properties and developments that are required to stay ahead of the region's rapid growth. Our experienced team is well-positioned to capture compelling opportunities and add value to our portfolio to generate attractive, yield-adjusted returns for our investors," Ming Lu, KKR Asia Pacific Head.
