Oct. 31, 2022: Nuveen Acquires PE Lender Arcmont
Plus, Shamrock Capital sells a minority stake, and Insignia exits product consultancy business
Read the top headlines for Monday, October 31, 2022 below:
Media Investor Shamrock Capital Sells Minority Stake
Shamrock Capital, an investor in media, entertainment and communications, announced it has sold a minority stake to RidgeLake Partners and Bonaccord Capital Partners, according to a press release. RidgeLake—a strategic partnership between Ottawa Avenue Private Capital and Apogem Capital—and Bonaccord’s investment will provide capital for Shamrock’s continued growth, though the company noted “there will be no change in Shamrock’s investment process, day-to-day management or operations.” Shamrock’s multi-fund strategy focuses on private equity investments in the space, though also includes ownership and content and media right ownership. RidgeLake Partners focuses on acquiring minority stake in middle-market private equity firms, while Bonaccord is a private equity firm focusing its investment on middle-market private markets sponsors, including private equity.
Nuveen Acquires PE Lender Arcmont
Arcmont Asset Management, a direct lender to private equity firms acquiring middle-market businesses, has been acquired by U.S.-based investment manager Nuveen, a Financial Times report said recently. The investment strengthens Nuveen’s presence in Europe, where Arcmont is based, as well as strengthens its position within the private credit space as, according to the publication, traditional asset managers turn their focus beyond the public sector. In an interview with the publication, Arcmont chief executive Anthony Fobel said, “Access to capital is the critical component. At the moment we have more deals than we can handle.”
Insignia Sells Product Consultancy to TELUS International
Insignia Capital Group is divesting its majority ownership in brand consultancy business WillowTree, selling the business to industry player TELUS International for $1.225 billion. TLUS provides customer experience solutions for brands, and is acquiring WillowTree after it was first acquired by Insignia in 2018. In the period since, WillowTree’s revenue quadrupled, the announcement noted, and the company scaled from two locations to thirteen, now servicing telecommunications, media, healthcare, life sciences, financial services, technology, software and other end-markets.
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