PE Today: Stifel, RCP Joint Venture Targets First-Time Fund Managers
Plus, new acquisitions for TGP’s Footballco and Praesidian Capital
Read the top headlines from Tuesday, April 12, 2022 below:
Stifel, RCP Launch Twelve Degrees to Support First-Time Fund Managers
Financial services holding company Stifel Financial Corp., its fund advisory division Eaton Partners, and lower middle-market private equity firm RCP Advisors have joined together to launch Twelve Degrees, aimed at supporting first-time alternative investment fund managers.
Twelve Degrees merges Eaton’s financial advisory services and global placement agents with RCP’s connections to lower middle-market private equity fund managers. The partnership will connect first-time fund managers with capital solutions, advisory services, back-office infrastructure, banking services from Stifel, and other support to help scale their own operations.
“Emerging managers have historically outperformed established managers, and we believe there is a significant opportunity in the lower-middle-market private equity space,” said Jeff Eaton, Global Co-Head & Managing Partner at Eaton Partners and Managing Principal at Twelve Degrees, in a statement.
TPG’s Footballco Acquires Sports Publisher to Strengthen MENA Footprint
Footballco, a digital media business owned by private equity firm TPG Capital, has announced that it is relocating its headquarters from Dubai to Saudi Arabia following its acquisition of sports publisher Kooora. A press release said the takeover will double Footballco’s audience across the Middle East and North Africa (MENA) region, and strengthens its footprint in the region’s fastest-growing soccer market, Saudi Arabia, ahead of the country’s hosting of the World Cup. Footballco acquired Kooora for more than $25 million, according to reports.
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Praesidian Acquires Controlling Stake in Unnamed E-Commerce Distributor
Private equity firm Praesidian Capital has announced its acquisition of an e-commerce distributor located in the Southwest, though has declined to name the distributor or financial terms of the transaction. A press release said the investment lands Praesidian a controlling stake in the company. Jason Drattell, founder of Praesidian Capital, said in a statement that the deal expands its presence in the e-commerce segment as well as in the Southwest region.
