Situational awareness: Brookfield Asset Management (NYSE: BAM) just agreed to acquire 62% of Oaktree Capital Group (NYSE: OAK) for around $4.8 billion.
Yesterday the U.S. Department of Justice indicted 32 individuals on felony fraud charges, accusing them of participating in a college admissions bribery scheme.
Bill McGlashan: A longtime private equity executive at TPG Capital, where he founded and runs both TPG Growth and The Rise Fund.
Manuel Henriquez, founder and CEO of Hercules Growth Technology Capital.
Gordon Caplan, co-chairman of law firm Wilkie Farr & Gallagher. He also is a partner in its private equity practice and corporate services department.
The bottom line: I've seen lots of commentary about how rich folks have always used their bank accounts to help progeny attend top schools, primarily through large donations. But at least in those cases, all students get to benefit from the largesse. Not true here. Instead, the schools and their students got defrauded. Disgusting and disgraceful.
Jumia, a pan-African e-commerce platform, filed for an IPO that would see it trade on the NYSE (JMIA) with Morgan Stanley as lead underwriter. The filing is for $100 million, but Renaissance Capital estimates that it may seek to raise five times that amount.
• Cloudflare, a San Francisco-based provider of content delivery network services, raised $150 million in new funding led by Franklin Templeton. http://axios.link/mZfP
• CXA Group, a Singapore-based employee benefits platform, raised $25 million in Series C funding from HSBC, Singtel Innov8, Telkom Indonesia, Sumitomo, Muang Thai Fuchsia Ventures, Humanica, Heritas Venture Fund and return backers B Capital, EDBI and Openspace Ventures. http://axios.link/pEEI
• Glia (fka SaleMove), a New York-based digital customer service platform for financial services companies, raised $20 million. Insight Venture Partners led, and was joined by return backers Tola Capital, Wildcat Capital Management and Grassy Creek. www.glia.com
• ZayZoon, a Canadian provider of “on-demand wages” for employees, raised C$15 million from backers like Prairie Merchant Corp. and Bluesky Equities. http://axios.link/kTDj
• Blackbird, a short flight-hail startup, raised $10 million in Series A funding led by NEA. http://axios.link/3vKJ
• Gem (fka ZenSourcer), a San Francisco-based recruiting platform, raised $9 million in Series A funding led by Accel. http://axios.link/2vk7
🚑 Abry Partners invested in Dr. Dental, a Framingham, Mass.-based provider of management and administrative services to branded dental offices. www.mydrdental.com
• The Carlyle Group acquired a 40% stake in Jeanologia, a Spanish maker of denim manufacturing equipment, at a reported enterprise value of €150 million. http://axios.link/oDSj
• ImagineSoftware, a Charlotte-based portfolio company of Mountaingate Capital, acquired ProviderAlly, a Slingerlands, N.Y.-based provider of accounting reconciliation services to the healthcare revenue cycle management space. www.imagineteam.com
• LightBay Capital and Freeman Spogli have acquired FastSigns International, a Carrollton, Texas-based signage and visual graphics franchisor, from Levine Leichtman Capital Partners. www.fastsigns.com
• PeopleFacts, a San Diego-based portfolio company of SNH Capital Partners, acquired Universal Background Screening, a Phoenix-based provider of background screening products and services. www.peoplefacts.com
• TSG Consumer Partners acquired CorePower Yoga, a Denver-based yoga fitness studio operator, from L Catterton. http://axios.link/TyzB
🚑 BioNTech, a German immunotherapies company that has raised around $700 million in VC funding, hired BAML and JPMorgan to lead an IPO on the Nasdaq late this year or early next year, per Reuters. It could value the company at around $4 billion. Investors include Fidelity, Redmile Group, Sanofi, Pfizer, Janus Henderson Group and Invus Group. http://axios.link/mx7x
• First Data (NYSE: FDC) agreed to acquire Software Express, a Brazilian provider of electronic funds transfer solutions. http://axios.link/fD7r
• Motorola Solutions (NYSE: MSI) acquired Avtec, a Lexington, S.C.-based provider of dispatch solutions for public safety and commercial customers. http://axios.link/utaS
🚑 Smith & Nephew (LSE: SN) agreed to buy Osiris Therapeutics (Nasdaq: OSIR), a Columbia, Md.-based regenerative medicine maker, for $660 million in cash, or $19 per share. http://axios.link/pX03
• EQT Partners raised €9 billion for its fourth private equity infrastructure fund. www.eqt.se
• FTV Capital, a San Francisco-based growth equity manager, is targeting more than $800 million for its sixth flagship fund, per PE International. http://axios.link/d3u1
• Osage University Partners raised $273 million for its third VC fund focused on startups that commercialize university research. www.oup.vc
• Jason Franklin will lead the Wisconn Valley Venture Fund, a $100 million early-stage effort formed by Aurora Health, Foxconn, Johnson Control and Northwestern Mutual. He previously was with Andreessen Horowitz. http://axios.link/Q0Do
Go deeper: What the bond market is telling us