24 Jun, 2022
Brookfield closes $15B transition fund; Apollo, Hostplus launch $1.25B strategy
* Brookfield Asset Management Inc. reached the final close for Brookfield Global Transition Fund, raising $15 billion. The total includes investments from institutional investors in and alongside the fund, plus capital reserved for the private wealth channel, according to a June 22 news release.
* Apollo Global Management Inc. and Australia-based Hostplus Superannuation Fund launched Asia Pacific Credit Strategy with US$1.25 billion in assets. The credit strategy will focus on Australia, India, Singapore, South Korea and Hong Kong.
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DEALS
* Silver Lake Management LLC agreed to buy a majority stake in Facile.it SpA from EQT Partners AB's EQT VIII and Oakley Capital Investments Ltd. The deal values the online price comparison platform at around €1 billion, Bloomberg News reported June 22, citing people familiar with the matter.
* EQT, through EQT IX fund, agreed to buy life science research products maker SPT Labtech Ltd. from Battery Ventures for £650 million, Dow Jones Newswires reported. The transaction is expected to close in the third quarter, subject to customary conditions and approvals.
* Ara Partners Group LLC bought non-wood agricultural pulp and molded fiber products maker Genera Energy Inc. The private equity firm committed up to $200 million in additional capital to support the company's expansion. WindSail Capital Group LLC, Coppermine Capital LLC and Stairway Capital Management will keep a minority stake in Genera.
* A Peak Rock Capital LLC affiliate closed its sale of pizza crust maker TNT Crust Inc. to General Mills Inc. The private equity firm bought TNT Crust in late 2018 through a corporate carve-out.
FUNDRAISING
* Insurance technology startup Ledger Investing Inc. raised $75 million in a series B funding round led by WestCap Investment Partners LLC. Proceeds from the investment round will be used to accelerate revenue growth and launch data infrastructure service products.
* Insurance and financing solutions developer Hokodo Ltd. raised $40 million in a series B funding round led by Notion Capital Partners LLP.
* Accent translation technology company Sanas.ai Inc. secured $32 million in a series A round led by Insight Partners.
VENTURE CAPITAL
* Vine Ventures secured $140 million in commitments at the final close of Fund III. The firm invests $1 million to $10 million in the earliest financing rounds of technology companies.
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