NVPE Editorial - Not Very Private Equity (Page 4)

Deals

A 21-month listing, a 49% uplift and one very large Canadian cheque: Couche-Tard's $8.6 billion Żabka deal is the exit that CVC's record Warsaw float never quite was

Couche-Tard is paying $8.6 billion for Żabka, 49% above the price of Poland's biggest float in years, 21 months after it listed. CVC gets its exit; Warsaw gets its ticker back.

Ares raised a record $36 billion in a quarter and expects to realise $10 million of performance income in...

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Ares raised $36 billion and expects to realise $10 million.

A record fundraising quarter, a record $170 billion of dry powder, and carry guidance that rounds to zero. Ares is what the industry looks like when selling stops mattering.

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What Is an Independent Sponsor? The Operator's Route Into Private Equity

An independent sponsor is a dealmaker who finds a company to acquire first and raises the equity afterward, deal by deal, instead of investing from a pre-raised fund. Also called a fundless sponsor. Compensation is typically a closing fee, a management fee, and a carried-interest promote. Search the

Europe's listed private equity firms have just reported a record July, according to Europe's listed...

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A record July for European private equity, say European private equity firms.

EQT, CVC, Bridgepoint and Partners Group all found a record to announce. The share prices, the statutory accounts and the gated evergreen funds tell a more European story.

Blue Owl says the structures work, and they do: they are currently working flat out to slow the rate at...

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Blue Owl says the structures work. The gates certainly do.

Fee earnings up 9%, GAAP profit down, individuals two-thirds gone from the fundraising mix, and redemption requests at 38% of one fund. A close read of the politest crisis in private credit.

KKR has just had the best quarter in its 50-year history, which is an odd moment to have deleted the...

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KKR's best quarter ever arrives just after it deleted the target.

Records in every direction, a monetisation quarter for the ages, and a quietly removed $7 target. The numbers do the talking, but only the ones allowed to speak.