KKR, GIP to buy CyrusOne for $15B; Lightyear Capital raises $1.6B

TOP NEWS IN PRIVATE EQUITY

* KKR & Co. Inc. and Global Infrastructure Partners will buy CyrusOne Inc. in a deal worth about $15 billion including debt, Reuters reported. KKR and GIP will pay $90.50 in cash for each share in the data center operator, a 5.9% premium to the company's closing price on Nov. 12.

* Lightyear Capital LLC raised $1.6 billion in capital commitments for its fifth flagship fund, Reuters reported Nov. 12, citing the private equity firm's managing directors Mark Vassallo and Stewart Gross. Fund V surpassed its initial target of approximately $1.25 billion, according to the report.

➤ PE systems software deal values hit $46B in 2021 with McAfee's proposed buyout

Robust private equity deal activity in the systems software sector in 2021 has been driven by rising demand for data management and online security, industry sources said.

➤ European financial services M&A activity dips in October

British insurance broker A-Plan Group's proposed acquisition of Aston Lark from The Goldman Sachs Group was the largest deal of the month, according to data from S&P Global Market Intelligence.

DEALS

* Eurazeo SE agreed to buy a majority stake and invest about $300 million in Scaled Agile Inc., a provider of framework, platform, professional training content and certifications. The investment will be made alongside Leeds Equity Partners LLC and the Scaled Agile management team.

* Sweden-based Storytel AB (publ) agreed to acquire audiobook streaming and download service Audiobooks.com from global investment firm KKR. The deal, the financial terms of which were not disclosed, will extend Storytel's footprint to the U.S. and will enable further expansion into large and English-language audio markets, according to a Nov. 12 news release.

* Funds managed by Blackstone Inc. unit Blackstone GP Stakes is set to buy a minority stake in private equity firm Great Hill Partners LP. The terms of the transaction were not disclosed.

* An affiliate of New State Capital Partners LLC made a majority equity investment in Wilmington Paper Corp. and its related affiliates. Wilmington Paper CEO Stuart Lurie and the management team will continue to own a substantial minority stake in the business.

VENTURE CAPITAL

* InnoVen Capital Pte. Ltd. raised $50 million at the first close of its debut China fund, DealStreetAsia reported. The InnoVen China fund has completed about 100 transactions in more than 70 startups since 2017, according to the report.

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