Cooper Smith
@CooperASmith
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Introducing Privitas - benchmarks, research, and data tools for private equity operations.
As you may have noticed, the Value Add brand is gone from our socials. That's because... we're rebranding! Goodbye Value Add, hello Privitas. Privitas will be our new name going forward, launching today, as a business intelligence firm for private equity operations. Our new
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Successful exits of active PE-backed portcos will be defined by operational improvements
Why is M&A slowing down for #PE-backed companies? @KPMG found that the leading factor is the decision to prioritize organic growth. The suggestion is that, in the current economic environment, operational improvements have become more important than other forms of value
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TPG packed in a double whammy in acquisitions for its comeback to the #WealthManagement space, buying minority stakes in @HomrichBerg and @CPIWealth. It hasn't been invested in wealth management since it divested from @LPL over a decade ago. https://t.co/nTQ1ZBCzDm Plus:
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ESG initiatives in PE-backed companies are opaque and lack data, but Apollo is trying to operationalize out of LP demand
.@apolloglobal's #ESG operational team believes the greatest #impact on its portfolio won’t come through impact-coded language or hard, science-based targets like #NetZero by 2050. https://t.co/GYxXVCFfJV
#ClimateWeekNYC #sustainability #climate #PE
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Turns out PE-backed exits are more sensitive to interest rates than buyouts.
Although Buyouts Will Likely Not Increase Amid Interest Rate Cuts, Exits Likely Will https://t.co/PRBEWkbbx7
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.@GTCRLLC has paid $2.7 billion for @AssetMark, an online wealth management platform. Such assets have been hotspots for #PE #investment, but that's slowly changing as the industry contracts. https://t.co/FLzWuzPAAj Plus: @tpg buys @Altimetrik, @26northpartners inks its first
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We're in good company on Full Time Offer's "12 Best Free Finance Newsletters" list! Subscribe with link in bio. https://t.co/UdEV0hHhtM "The newsletter from Value Add PE focuses on insights for private equity operating partners and sponsor-backed executives. Content includes
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.@DB_Bahn launched a process to sell @DBSchenker, its logistics arm, in December 2023. Now, two bidders have emerged from the 20 that initially showed interest: @CVC_Capital and @DSV_global. Each has placed a binding bid of €14 billion ($15.6 billion) for the company whose
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#CyberSecurity companies have become popular targets for #PE due to their increasing importance to #IT departments across industries. Approximately 18% to 28% of all IT budgets in the UK and US are now dedicated to improving technology resilience, according to B2B research firm
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Few companies consider deals below $5 million #EBITDA – and even fewer launch roll-ups with an asset that small. But The Riversie Company does just that, with an #international edge. #PE #investment
https://t.co/XrgCG3xvcW
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.@OneCarlyle has bought Vantive, the kidney care unit of @baxter_intl for $3.8 billion. Atmas Health was added to Carlyle's #healthcare #operations platform in 2022 and will oversee the asset. Plus: #PE broadens feeder firms for operating partner recruitment, @thomabravo exits
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Textbook PE value creation: ✅ New management ✅ Cloud migration ✅ ESG governance
Cinven Sells JAGGAER to Vista, Doubles EV by @xisabelobrienx
https://t.co/L0xTksRHvV
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Dedicated operating partners are scarce in the small- to mid-market. But counterintuitively, these firms’ operational successes have led them to outperform large buyouts. By @xisabelobrienx
https://t.co/3U0shHBalI
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Amid volatility, KKR remains steadfast in its Japan buyout strategy. By @xisabelobrienx
https://t.co/9tIjA3DYEA
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Irrational digital transformation? PE-backed healthcare companies are at greater risk of cyberattacks in push to store data in the cloud by financial sponsors. https://t.co/4B3xxWvifP
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How the unwinding of the Yen carry trade affects private equity. by @CooperASmith
https://t.co/LBFdlrFB6N
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Apollo Global Management is rolling the dice again with a $6.3 billion bet on IGT and Everi Holdings. With past bets like PlayAGS and Caesar's Entertainment, Apollo's track record in gaming is mixed. 🎲 by @xisabelobrienx #PrivateEquity
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Retailer margins are getting squeezed. Suppliers passed on higher prices but consumers are now more price sensitive
1. The discount rate was an average of 21%, up from 19% during holiday 2021. Despite the discounts, average sales price was still higher by 5.5%
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A lot of retailers have teased out big holiday earnings, but this is what we would expect during promotions in an inflationary environment and consumer price sensitivity. The real test is if consumers keep buying once the deals are over
American Eagle says it had the second-best holiday season in its history. https://t.co/XaqdxQsCBx
#retail #retailnews
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