4 Jan, 2022
B Capital sells stakes in 5 businesses; REIT to buy majority of PE-backed Teraco
* B Capital Group Management LP sold part of its stakes in five businesses for nearly $200 million, Dow Jones Newswires reported, citing people familiar with the matter. Top Tier Capital Partners LLC led the transaction and Goldman Sachs Group Inc.'s asset management arm also participated in the deal, the people said.
* Data center real estate investment trust Digital Realty Trust Inc. will acquire a majority interest in Teraco Data Environments (Pty.) Ltd. from an investor group including Permira Advisers Ltd. and Berkshire Partners LLC. Both investors will retain minority ownership in the African carrier-neutral data center and interconnection services provider.
➤ Chinese banks face slower loan growth, squeezed margins, credit risk in 2022
Banks in China are facing more pressure on their profitability amid market and policy challenges on multiple fronts.
➤ Top US auto insurers racing toward $40B in annual premiums
All of the largest three U.S. auto insurers have a chance to write $40 billion of annual premium for the calendar year 2022, according to an S&P Global Market Intelligence analysis.
DEALS
* Apollo Global Management Inc. completed its merger with retirement services company Athene Holding Ltd.
* EQT AB (publ)'s EQT VIII fund and Santo Holdings agreed to buy the stakes of EQT VI Fund and its co-investors in WS Audiology A/S, a global producer of hearing aids.
* IK Partners, through its IK Small Cap III Fund, agreed to acquire German business-to-business e-commerce company Stein HGS GmbH from Lennertz & Co. GmbH and founder Bodo Stein. Lennertz and Stein will reinvest alongside IK Partners in the company.
* Alpine Management Services III LLC, also known as Alpine Investors, sold MidAmerica Administrative & Retirement Solutions Inc. to U.S. Retirement & Benefits Partners Inc. for an undisclosed amount.
* Littlejohn & Co. LLC acquired supply chain management company Magnate Worldwide LLC for an undisclosed amount.
* A partnership between SK Capital Partners and The Heubach Group closed the acquisition of Clariant AG's global colorants business.
* An affiliate of middle-market private equity firm Gemspring Capital LLC acquired a majority stake in JTI Electrical & Instrumentation LLC. JTI manufactures electrical and mechanical systems for industrial processing facilities.
FUNDRAISING
* Singapore's Azalea Investment Management Pte. Ltd. raised US$805 million in capital commitments for its flagship private equity fund of funds product, Altrium II. The vehicle allows investors direct equity participation in a portfolio of private equity funds across the U.S., Europe and Asia.
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