In April 2023, CCSRMB I closed the first RMB denominated GP-led transaction involving a portfolio of high quality healthcare assets. The transaction’s total size was approximately RMB 315m.
In July 2022, CIP VIII co-lead the largest GP-led transaction in Asia with Hahn & Company for SsangYong C&E, closing at approximately $1.5bn. Coller Capital and its co-investors were the single largest investors.
In May 2021, CIP VIII co-led a GP-led process where a portfolio of healthcare assets were moved from Legend Capital’s Fund V and VI into a continuation fund, with $270 million in aggregate commitments.
In December 2020, CIP VIII co-led a GP-led process whereby Hightower Advisors, a Chicago-headquartered wealth advisory business, was moved from 2016-vintage Thomas H Lee VII to a single-asset continuation vehicle. The transaction allowed the GP to provide a liquidity option to its LPs whilst being able to hold onto a well-performing asset for longer.
In May 2020, CIP VIII led a GP-led secondary transaction for Permira IV. The fund’s four assets, together with a co-investment for the largest asset, were transferred into a new investment vehicle with $829 million of aggregate commitments.
In December 2019, CIP VIII backed, with a $222m commitment, a single-asset GP-led transaction whereby Action, a fast-growing European non-food discount retailer, was moved from 3i Eurofund V to a continuation vehicle. The transaction facilitated a liquidity offering to existing LPs, while allowing the GP to continue their successful rollout of Action stores throughout Europe. This transaction was awarded European deal of the year in 2020 by Private Equity International.
In November 2019 CIP VII led a transaction, with a $120m commitment, whereby Upstream Rehabilitation (the third-largest operator of outpatient physical therapy clinics in the US), was moved from a 2015-vintage buyout fund to a new single-asset vehicle. The process allowed Revelstoke Capital Partners to hold its top-performing asset longer to maximise value and to offer a liquidity option to existing LPs.
In April 2019 CIP VII made an investment in an Australian education business via a continuation vehicle managed by Baring Private Equity Asia. The asset was transferred from Baring’s 2007-vintage Fund VI.
In January 2019, CIP VII underwrote a new fund arrangement with Investcorp, in relation to six assets from its European private equity portfolio. The fund will be capitalised with approximately US$1bn million of aggregate commitments, with Investcorp retaining a continued interest in the portfolio through a meaningful GP commitment to the fund.
In 2018, CIP VII led the world’s largest GP-led transaction of its time: a liquidity offer made for €2.2bn to Nordic Capital investors.