DIY deals: How private equity firms buy assets from themselves
By Chibuike Oguh
Reuters
(Reuters) - What s a fair price when you are selling something to yourself? On Wall Street, that s not a trick question.
A growing number of private equity firms are establishing new funds to buy portfolio companies from funds they already control. With the buyer and seller each an entity controlled by the same private equity firm, scrutiny is growing over how they price such deals. Transactions must be done at fair value and this must be sufficiently mitigated to make sure everybody feels good about the deal being done, said Brian Rodde, managing partner at Makena Capital, a private equity investor.
DIY deals: How private equity firms buy assets from themselves
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Partners Group Buys Careismatic Brands for $1.3 Billion
This content was published on January 7, 2021 - 13:27
January 7, 2021 - 13:27
(Bloomberg) Partners Group Holding AG bought medical-apparel company Careismatic Brands for about $1.3 billion including debt, according to a person with knowledge of the matter, in the private equity firm’s latest health-care deal.
The Swiss company purchased Careismatic from private equity shop New Mountain Capital, according to a statement Thursday that didn’t disclose terms of the transaction. Partners Group plans to bolster Careismatic’s growth by introducing new products and digitizing sales and marketing.
Partners Group, with more than $96 billion in assets, has been pursuing deals in niche segments of the health-care industry. Recent acquisitions include vision-services provider EyeCare Partners and Wedgewood Pharmacy, which provides specialty medications for animals. In August, Partners Group agreed to sell its majority stake in s