Fundraising outcomes now split sharply on DPI. Buyouts reports that the fundraising market has bifurcated along a single metric: have you returned cash to LPs or haven't you? GPs with strong distributions are raising on timeline. Everyone else is grinding. The denominator effect never really went away. It just found a new name. BUYOUTS
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.
