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Comvest closes credit fund at $1.3 billion Bloomberg Comvest Partners closed direct lending fund Comvest Credit Partners V at more than $1.3 billion, a news release said Wednesday. The middle-market fund, which provides senior secured debt and unitranche credit facilities, has transactions ranging from $25 million to $250 million, the news release said. Its target was $1.25 billion, a spokesman said. The previous fund, Comvest Capital IV, closed at $836 million in 2018, above its fundraising target of $650 million. Comvest Partners has $4.7 billion in assets under management. Related Articles ....
Texas County commits $100 million to another Taconic credit fund Print Texas County & District Retirement System, Austin, made a second commitment this year to another fund from existing credit manager Taconic Capital Advisors for a total of $200 million, a transaction report from the $35.7 billion pension fund showed. From the retirement system s $4.4 billion strategic credit portfolio, investment officers committed $100 million to Taconic CRE Dislocation Onshore Fund III whose portfolio managers will seek investments in opportunistic real estate debt. In March, TCDRS committed $100 million to Taconic European Credit Dislocation Fund III from the the pension fund s $918 million distressed credit portfolio. Including the new Taconic commitment, as of April 9, the retirement system has committed a total of $150 million to two strategies run by two managers from the strategic credit portfolio, the pension fund s 2021 transaction report showed. ....
We start with the much-anticipated deal between Indonesia’s two most valuable startups. Gojek and Tokopedia have sought approval from their respective shareholders to seal a merger deal after both companies’ boards gave the green light for the transaction. Once shareholder approval is obtained, the two companies will move to complete the transaction in a matter of weeks. A deal between super app Gojek, valued at $10.5 billion, and e-commerce unicorn Tokopedia, valued at $7.5 billion, would be by far the largest M&A deal ever to be seen in Indonesia’s tech sector. Another Indonesian unicorn, Bridgetown Holdings Ltd, a SPAC backed by billionaires ....
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Texas County commits $30 million to third China-focused venture fund Print The $35.7 billion Texas County & District Retirement System, Austin, committed $30 million to a China-focused venture capital fund, a transaction report showed. The allocation from the system s $6.8 billion private equity/venture capital portfolio is to IDG Breyer Capital Fund, which is co-managed by existing manager IDG Capital and new manager Breyer Capital. TCDTRS earlier committed $80 million to two IDG China-focused funds, transaction reports showed. In March, the system committed $40 million to two China-focused venture capital funds managed by Source Code Capital, a new manager for TCDRS. Including the new IDG Breyer strategy, TCDRS investment officers have committed $175 million through April 6 to six private equity/venture capital funds run by five money managers. ....