Global buyout major Apollo has agreed to back part of the incumbent local exchange carrier business of Lumen Technologies for $7.5bn, including debt assumption of approximately $1.4bn. The deal valued the company at around 5.5x of its 2020 estimated adjusted EBITDA.
Strategic Value Partners has hit a final close on $5bn for Strategic Value Special Situations Fund V, well above its initial target of $4bn. The investment vehicle almost doubled the size of its predecessor Fund IV.
San Francisco-based venture capital firm Root Ventures is looking to raise $150m for its third fund, AltAssets has learned. If reaching the target, the fund will double the size of its predecessor Fund II.
French private equity house PAI Partners has agreed to buy juice brands including Tropicana and Naked across North America from PepsiCo for $3.3bn. The deal also includes an irrevocable option to sell buy certain juice businesses in Europe.
Consumer-focused buyout house L Catterton has sold its stake in woman sportswear brand Sweaty Betty to Wolverine World Wide.
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