Brookfield acquires World Freight Company for $1.2bn from EQT and PAI Partners. Global freight forwarding. Sponsor-to-sponsor. EQT and PAI bought it together in 2018 and held it through a pandemic, a supply chain crisis, and a freight rate collapse that turned the entire logistics industry upside down. Brookfield underwriting at $1.2bn through that volatility says something about the contractual nature of the revenue underneath. Announced today. REUTERS
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.
