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Vista's software fund secures $11.4B; GI readies $1B digital infrastructure fund


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Vista's software fund secures $11.4B; GI readies $1B digital infrastructure fund

S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.

High-tech fundraising

* Vista Equity Partners LLC's latest software buyout fund pulled in $11.4 billion out of its $16 billion target in its first close held in late September, unnamed sources told The Wall Street Journal. If it meets its capital goal, Vista Equity Partners Fund VII LP would be the largest such fund by an independent private equity firm, edging out Silver Lake Partners' $15 billion technology fund.

* GI Partners LLC is aiming to invest in data centers and related assets through a new digital infrastructure fund for which it will seek more than $1 billion, unnamed sources told Bloomberg News.

* GGV Capital, a venture capital firm that invests in global technology companies, collected $1.88 billion in the respective funding closes of four of its multi-stage funds.

* Updata Partners, which backs software and software-driven companies, is looking to bring in $300.0 million for its latest fund.

Takeover targets

* Domestic & General Group Ltd. was expected to receive acquisition offers from Clayton Dubilier & Rice LLC, Onex Corp. and Warburg Pincus LLC before the Oct. 19 deadline, with the bids expected to value the target company at about £1.2 billion, undisclosed sources told Sky News. Blackstone Group LP and Centerbridge Partners LP have also considered bids, but it was unclear whether they would actually submit proposals.

The warranty provider, which was taken private by Advent International Corp. in 2007, was acquired by CVC Capital Partners Ltd. in 2013.

SNL Image
People line up to order at a Starbucks in New York.
Source: Associated Press

* German elevator parts maker Wittur drew buyout interest from Partners Group Holding AG and Cinven Partners LLP, with potential bids expected to come from several other private equity firms including Advent International Corp. and BC Partners, anonymous sources told Reuters.

Bain Capital LP, which bought Wittur from Capvis Equity Partners AG and Triton in 2014, expects to receive the first round of bids by early November, and the bids are likely to top €1 billion, according to the report.

* Private equity firms and U.S. companies have expressed initial interest in Piramal Enterprises Ltd.'s contract pharmaceutical business, unnamed sources told Bloomberg. The Indian pharmaceutical company's billionaire chairman, Ajay Piramal, reportedly is weighing a roughly $1 billion sale of Piramal Pharma Solutions.

* Negotiations are underway for the potential sale of Information Resources Inc., which does business as IRI, to an investor group led by Vestar Capital Partners LLC, unnamed sources told Bloomberg. A sale would mark an exit for New Mountain Capital LLC, which acquired a majority stake in the market research company in 2011.

* Mental healthcare facility operator Acadia Healthcare Co. Inc., which is looking to sell itself, received takeover interest from private equity firms, including KKR & Co. and TPG Global, people familiar with the matter told Reuters.

* Lion Capital LLP, Bain Capital and other shareholders are in advanced discussions to sell Young's Seafood Ltd. to private equity firm CapVest Ltd. in a deal that could value the British frozen food brand at as much as £200 million, anonymous sources told the Daily Mail.

SNL Image
A Pizza Hut restaurant outdoor sign
Source: Associated Press

At stake

* Investors including Blackstone, Fajr Capital Ltd., Bahrain Mumtalakat Holding Co. and Varkey Group Ltd. are weighing a possible sale of their 25% stake in GEMS Education, after the Dubai-based school operator's IPO plans were halted, unidentified sources told Bloomberg. A deal reportedly could value GEMS at approximately $4 billion.

* Mexican private equity firm Finaccess Capital offered to buy an up to 75% stake in Restaurant Brands New Zealand Ltd. The target company operates franchises of YUM! Brands Inc.'s KFC, Pizza Hut and Taco Bell as well as those for Starbucks Corp. and CKE Restaurants Holdings Inc.'s Carl's Jr. in New Zealand, Australia and Hawaii.

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