Weekly Recap of Private Equity Sector News
In the world of real estate and private equity, Europe has been a hotbed of activity recently. Here are some significant deals that have caught our attention:
Blackstone's Expansion in Nordic Real Estate
American investment firm Blackstone has made a bold move by offering approximately 1.8 billion euros ($2 billion) to acquire all shares of Finnish real estate investment company Sponda. This offer represents a 20.7% premium over Sponda's last closing price. The deal, which has received unanimous board support from Sponda and the participation of major Finnish shareholders such as pension fund Varma, highlights Blackstone’s strategic expansion in Nordic real estate markets with backing from Swedish fund manager Areim AB [1][5].
EQT's Sale of Stake in IFS
Swedish enterprise software company IFS has seen a change in ownership, with EQT selling its stake. Details on the sale size, value, or timing are not available at this time, as the search results do not provide sufficient information [2]. However, it's worth noting that technology investor Hg will increase its stake in IFS and become a co-controlling shareholder alongside EQT. TA Associates will also remain an investor in the company [3].
KKR's Acquisition of Karo Healthcare
American private equity firm KKR is reportedly close to acquiring consumer healthcare group Karo Healthcare in a deal valued at more than €2.5bn. This acquisition marks a significant exit for EQT, which has owned Karo since 2019 [4]. The deal is an expansion of KKR's exposure to resilient, cash-generating consumer health assets [5].
Notable Fundraising
Blackstone Europe Real Estate Partners VII, a real estate fund, has closed at €9.8bn ($10.8bn), setting a new record for capital raised in Europe. The fundraising spanned two years and makes Blackstone Europe Real Estate Partners VII the largest external capital pool the firm has ever raised for European property [6].
Competitive Sale Process
During the sale process for Karo Healthcare, which was initiated by EQT last year, KKR outbid several rival private equity firms to secure the deal [7].
Dealmaking Amid Challenging Conditions
These deals were announced amid a slowdown in global dealmaking, demonstrating the resilience of the European market despite falling asset valuations and rising interest rates [8].
In conclusion, while the details of EQT's sale of its stake in IFS and KKR's acquisition of Karo Healthcare are still emerging, the most notable confirmed recent deal related to your query is Blackstone's offer for Sponda, illustrating significant ongoing private equity activity in European real estate markets.
- Blackstone, an American investment firm, has offered approximately 1.8 billion euros to acquire all shares of Finnish real estate investment company Sponda, marking a strategic expansion in Nordic real estate markets.
- In a different deal, EQT, a Swedish private equity firm, has sold its stake in the enterprise software company IFS, paving the way for technology investor Hg to increase its stake and become a co-controlling shareholder, alongside EQT.
- KKR, another American private equity firm, is reportedly close to acquiring consumer healthcare group Karo Healthcare in a deal valued at over €2.5bn, marking a significant exit for EQT, who has owned Karo since 2019.
- Blackstone Europe Real Estate Partners VII, a real estate fund, has closed at €9.8bn, setting a new record for capital raised in Europe.
- During the sale process for Karo Healthcare, initiated by EQT last year, KKR outbid several rival private equity firms to secure the deal.
- These significant deals in European real estate and private equity markets were announced amid a global dealmaking slowdown, demonstrating the resilience of the European market despite challenging conditions such as falling asset valuations and rising interest rates.
- In conclusion, ongoing private equity activity in European real estate markets is evident through deals like Blackstone's offer for Sponda, which represents one of the most notable recent deals related to your query.
