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KKR Buys Sustainability Consultancy Firm ERM
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OMERS, AIMCo sell majority stake in ERM to KKR
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KKR Nears $3 Bln Deal To Buy ERM Group: Report
WASHINGTON (dpa-AFX) - KKR & Co Inc. (KKR) is nearing a deal to buy ERM Group Inc. from its Canadian owners in a deal that potentially values the consultancy at as much as $3 billion, Bloomberg reported citing people familiar with the matter.
According to the report. KKR is set to beat out rival bidders in a formal sale process for the company owned by Omers Private Equity and Alberta Investment Management Corp. A potential announcement could be made in coming days.
No final decision has been made and talks could still be delayed or fall apart, the report said.
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Dealmaking within the PMB sector enjoyed an impressive start as companies across the globe embarked on their post-pandemic recovery
The global pharma, medical and biotech (PMB) sector saw US$95.4 billion in deal activity over the first quarter, almost three times the US$33 billion in deals announced in Q1 2020. Deal volume, meanwhile, increased 28% year on year, with 466 deals announced.
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This strong activity is carrying on from the momentum generated by deal activity in H2 2020, reversing the steady 2019 decline. While initially hit hard by the global pandemic, dealmaking within the PMB sector witnessed an impressive rebound over the course of 2020. Global deal value within the sector more than tripled from US$66.4 billion in the first half of the year to US$220.2 billion in the second, while volume increased by 28% over the same time frame.
UK private equity firm Inflexion is reportedly targeting £2bn for its sixth flagship buyout fundraise.
Fund VI is set to be 60% larger than Fund V according to a new report from the Wall Street Journal, which cited unnamed people it said were familiar with the fundraise.
The $51bn-managing llinois Municipal Retirement Fund had previously agreed to commit up to £175m to Inflexion Buyout Fund VI, the latest of a string of previous investments from the LP in Inflexion vehicles totalling more than £400m.
Inflexion’s latest fundraise comes on the back of a series of impressive exits, most recently the sale of Kynetec to Paine Schwartz Partners, which AltAssets understands scored its a 3x return.
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