Lone Star acquires Lonza's capsules and health ingredients division, ~$3bn. A clean carve-out from the Swiss life sciences group. Capsules, health ingredients, vertically integrated manufacturing.....exactly the kind of asset that PE loves: defensible, recurring, and boring enough to avoid disruption risk. PE WIRE
Apollo hired three managing directors, one of them from Carlyle. Advent's head of tech strategy now works at the OpenAI venture Advent helped fund.
GTCR and Elliott are paying $7.75 a share for CCC. Advent sold its final stake last November at $7.79, down from a $10 SPAC-era price.
Proofpoint will pay $49.75 a share for Varonis, 52% above the June close. The multiple is 53 times free cash flow, and the first-half cash flow fell.
Fee-generating assets rose €40bn in the quarter. Strip out the Coller acquisition and the gain is about €6bn.
