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BC Partners to buy Presidio; Blackstone could bid for Anbang's Japan properties

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

Busy BC

August has proved to be a busy month for London-headquartered BC Partners. The international investment firm announced two hefty deals this week, the latest its agreeing to take North American IT services provider Presidio Inc. private in an all-cash deal of about $2.1 billion, including net debt.

Just two days earlier, the firm said it was acquiring a stake in Vista Equity Partners LLC-backed Advanced Computer Software Group Ltd, a U.K.-headquartered software and services business. BC Partners will pick up a 50% stake in the company, which was acquired by Vista in 2015, for about £2 billion including debt, according to the Financial Times.

The two deals are the first that follow news of Blackstone Group Inc.'s minority investment in the firm earlier this month. The passive investment increases BC Partners' balance sheet capital following the recent establishment of its private credit platform and the launch of its real estate strategy last year. Blackstone Alternative Asset Management LP's Strategic Capital Group, which buys minority GP stakes, has invested in private equity firms such as Kohlberg & Co. LLC, New Mountain Capital LLC and Francisco Partners Management LP.

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A Blackstone Group sign in front of its offices.
Source: The Associated Press

Asian aims

* Blackstone Group is considering making a bid for a $2.4 billion property portfolio in Japan owned by Chinese insurer Anbang Insurance Group Co. Ltd., two people familiar with the company's plans told Reuters. Anbang acquired the portfolio, which largely comprises residential buildings, from Blackstone in 2017.

* The private equity giant also signed a nonbinding letter of intent to buy the Global Village Tech Park in Bengaluru, India, from Coffee Day Enterprises Ltd. for up to 30 billion Indian rupees.

* KKR & Co. is acquiring a majority interest in NVC Lighting Holding Ltd.'s China lighting business, or NVC China, for a total equity value of about US$794 million.

In the works

* Apollo Global Management LLC, Carlyle Group LP and Lone Star Funds are among the suitors that submitted initial bids for the entire business of European transport unit Arriva PLC held by Germany's state-owned rail operator Deutsche Bahn AG, people familiar with the matter told Bloomberg News.

* Roark Capital is in discussions with advisers about the possible auction of automotive services franchiser Driven Brands Inc., which could fetch as much as $2 billion, in the fourth quarter, Bloomberg reported, citing people with knowledge of the plans.

Acquisition zone

* Grain Management LLC is buying a majority stake in communications service provider Ritter Communications Inc.

* Kensington Capital Partners Ltd. entered into an agreement to acquire the surgical and medical centers business of Centric Health Corp. for C$35 million in an all-cash deal.

* Equistone Partners Europe Ltd. will pay an undisclosed amount for a majority interest in German pharmaceutical wholesaler Omnicare Pharma GmbH.

* Heliconia Capital Management Pte. Ltd. acquired a minority stake in Singapore-based electronic game chair maker Secretlab, Bloomberg reported, citing a person with knowledge of the matter.

* Cunaxa Ventures Inc. added field fabrication company NFE Inc. to its portfolio.

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An Arriva bus passes the Houses of Parliament in London.
Source: The Associated Press

* Battery Ventures bought and merged data and analytics company Forest2Market Inc. and business intelligence services provider Fisher International Inc.

* LDC Ltd. acquired a minority equity interest in U.K.-based independent television content producer Plimsoll Productions Ltd.

* Castle Harlan Inc. and Branford Castle Partners LP paid an undisclosed sum for spray-tanning products manufacturer MT Industries Inc., doing business as Sunless Inc., from Riverside Co., formally known as Riverside Partners LLC.

* Aterian Investment Partners LLC acquired hair bleach products company Bright International Corp. for an undisclosed sum.


* Egeria is selling washroom hygiene specialist Vendor to CWS Group for an undisclosed amount.

* Tenzing Private Equity LLP agreed to divest software provider FMP Global to IRIS Software Group Ltd.

* Rutland Partners LLP wrapped up the sale of Afi Holdings Ltd. to its current management team led by CEO David McNicholas and Chairman David Shipman.

Capital commitments

* ArcLight Capital Partners LLC raised about $2.20 billion for its seventh private equity fund.

* Actis LLP collected approximately $1.23 billion for its first long-life infrastructure fund.

* Lux Capital Management pulled in around $1.05 billion across two venture capital funds.

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