Blackstone, EQT invest in Epidemic Sound; Warburg co-leads JD unit funding

TOP NEWS IN PRIVATE EQUITY

* Growth funds affiliated with EQT AB (publ) and Blackstone Group Inc. injected a combined $450 million into Epidemic Sound AB, giving the restriction-free music platform an approximately $1.4 billion valuation. The investment was made by EQT Growth and funds managed by Blackstone Growth Advisors LLC.

* JD.com Inc. unit JD Property expects to secure around $700 million in a non-redeemable series A preferred share financing round to be led by Warburg Pincus LLC and Hillhouse Capital Advisors Ltd. The financing is subject to customary closing conditions.

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FUNDRAISING AND DEALS

* KKR & Co. Inc. aims to raise $12 billion for its latest flagship global infrastructure fund, Reuters reported, citing people familiar with the matter. This would make KKR Global Infrastructure Investors IV, which launched in late 2020, substantially larger than its predecessors.

* Blackstone is targeting $4 billion for a fund that will invest in various asset classes, Reuters reported March 11, citing people familiar with the matter. The Blackstone Tactical Opportunities Fund IV, which could secure its first commitments in June, will invest in assets typically outside the scope of its funds.

* CVC Capital Partners Ltd. is working with an adviser for a potential sale of Sweden-based ÅR Packaging Group AB, Bloomberg News reported March 11, citing people familiar with the matter. The potential sale could value the packaging company at more than €1.3 billion.

* Bentley Systems Inc. agreed to buy 3D geological modeling and visual data software provider Seequent Ltd. from investors led by Accel-KKR LLC for $900 million in cash and 3.1 million class B shares of Bentley. Seequent will operate as a standalone subsidiary of Bentley upon closing of the transaction.

* Charterhouse Capital Partners LLP into entered exclusive negotiations to sell the majority stake of Cooper Consumer Health SAS to CVC's CVC Capital Partners VII LP. CVC was previously reported to be close to an approximately €2.2 billion deal to purchase the over-the-counter drug maker.

* TPG Capital LP-backed secondaries investor NewQuest Capital Partners has deployed one-third of its NewQuest Asia Fund IV, DealStreetAsia reported, citing the firm's partner Amit Gupta.

VENTURE CAPITAL

* Financial services company BlockFi Inc. received $350 million in a series D financing round led by new investors such as Bain Capital Venture Partners LLC, DST Global partners, Pomp Investments and Tiger Global Management LLC.

* Openspace Ventures Pte. Ltd. raised $200 million at the final close of its Openspace Ventures III LP fund. The platform closed at its hard cap and brought the Singapore-based venture capital firm's committed capital to $425 million across three funds.

LEGAL AND REGULATION

* Pending civil fraud claims against GPB Capital Holdings LLC and its founders were put on hold after the Department of Justice sought a stay in the Securities and Exchange Commission's case, The Wall Street Journal reported. Acting U.S. Attorney Seth DuCharme sought the stay to preserve the secrecy of an ongoing grand jury investigation and prevent inappropriate discovery of matters in the criminal case, according to the report.

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