M&A Deal News – August 27, 2019
GTCR boosts its AUM, Apollo Considers an Energy Deal, and WeWork buys a rival before its IPO
M&A Deal News – August 27, 2019: M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space.
Here’s our recap for Tuesday evening.
Private Equity M&A Deal News
- Hamilton Lane affiliate New York Credit SBIC fund announced the sale of LeverPoint Management. The new owner is a Chicago-based private equity firm called GTCR. Neither firm disclosed deal terms, but the purchase helps boost GTCR’s portfolio firm Ultimus Funds. The integration of Leverpoint into Ultimus will drive assets under management to $220 billion.
- SPX Flow is likely going to put its power and energy business on the market. Bloomberg believes the division is worth roughly $700 million. According to reports, both Apollo Global Management and First Reserve are interested in a deal.
Real Estate Deal News
- Medical Properties Trust has completed a deal in the United Kingdom for eight hospitals. The seller is Ramsay Health Care. The company also acquired 16 hospitals operated by Prospect Medical Holdings.
- WeWork is pushing toward September with a planned IPO. Before it goes public, the firm has purchased rival Spacious. Spacious has evolved into a firm that converts empty restaurants during the day into co-working spaces. It has generated a following in New York City and San Francisco and raised $9 million in funding.
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