Liga MX Transformation - Private equity investment is expected to transform Liga MX [1] - The investment could narrow the valuation gap with MLS [1] Club Ownership Change - Querétaro is the first of four clubs expected to change hands [1]

Group 1 - A total of 79 new private equity and venture capital funds were registered in China, with a cumulative subscription amount of 40.448 billion RMB during the week of June 30 to July 6 [1] - The highest number of new funds was in Zhejiang Province, with 18 funds accounting for 22.78% of the total [1] - The largest subscription amount came from Beijing and Hunan, with shares of 13.68% and 13.23% respectively [1] Group 2 - 169 limited partners (LPs) contributed a total of 38.089 billion RMB to the new registered private equity funds, after excluding general partners (GPs) and individuals [2] - The majority of LPs were located in Jiangsu Province, which accounted for 15.38% of the total [2] - The highest subscription amounts were from Hunan and Zhejiang, with shares of 14.21% and 12.81% respectively [2] - Government-backed funds contributed the most, with a total of 30.761 billion RMB, representing 80.76% of the total subscriptions [2]

Core Viewpoint - Apollo has agreed to sell its interest in MAFTEC Group Co., Ltd., a leader in ultra-high temperature heat insulating solutions, to funds managed by Advantage Partners, with the transaction expected to close in the second half of 2025 [1][5]. Company Overview - MAFTEC was established from the separation of Mitsubishi Chemical's Thermal and Emission Control Materials business, which Apollo acquired in March 2022 [2]. - Apollo played a crucial role in MAFTEC's product development and market establishment, contributing to significant EBITDA growth over the past three years [2][3]. Management Insights - Tetsuji Okamoto from Apollo expressed pride in MAFTEC's achievements and confidence in its long-term growth potential, highlighting the company's innovative material processing technology [3]. - Kosuke Matsuzaki, CEO of MAFTEC, acknowledged Apollo's support in executing the company's standalone strategy and expressed optimism about future collaboration with Advantage Partners [4]. Investment Strategy - The investment in MAFTEC reflects Apollo's strategy as a solution provider and strategic partner to leading Japanese conglomerates, with previous investments including Panasonic Automotive Systems and Altemira [4].

Core Insights - Avista Healthcare Partners has successfully closed Avista Healthcare Partners CV II, L.P., a continuation fund for GCM, with significant investments from Goldman Sachs Alternatives and BlackRock [1][3] - Since Avista's acquisition of GCM in 2019, the company has more than doubled its revenue through strategic investments in technology, facilities, and human capital [2] Company Overview - Avista Healthcare Partners is a New York-based private equity firm founded in 2005, with over $9 billion invested in 50 healthcare businesses globally, focusing on growth-oriented healthcare product and technology sectors [5] - GCM, headquartered in Union City, California, specializes in complex manufacturing services for medical technology OEMs, offering precision machining, fabrication, and integration services [6] Investment Strategy - The continuation fund for GCM includes substantial unfunded capital commitments aimed at supporting acquisition opportunities and strategic investments [1] - Goldman Sachs Alternatives emphasizes partnership and shared success, with over $500 billion in assets and extensive experience in alternative investments [7][9]

Performance Overview - The company reported a Portfolio Return on a Local Currency Basis of 0.6% for the three months ended 30 April 2025, but a negative return of (2.4)% when converted to Sterling due to foreign exchange effects [3][17] - The NAV per Share Total Return for the quarter was (2.6)%, with a closing NAV per Share of 2,011p [3][17] - Over the last five years, the company has achieved an annualised NAV per Share Total Return of 14.8% [3][17] Investment Activity - Total New Investments during the quarter amounted to £48m, with £25m in Primary investments, £15m in Direct investments, and £8m in Secondary investments [22][19] - Total Proceeds for the quarter were £149m, including £62m from the sale of a portion of the Portfolio at a 5.5% discount and £48m from the sale of Minimax, the largest portfolio company [3][22] - The company made five new fund commitments totaling £76m during the quarter [20] Financial Position - The company maintained a robust balance sheet with a low gearing ratio of 3% and total available liquidity of £201.5m as of 30 April 2025 [3][24][27] - The cash balance increased to £7.5m from £3.9m at the end of January 2025, while drawn debt decreased to £52.3m [27][24] Dividend Policy - A first quarter dividend of 9p per share was declared, with intentions to pay total dividends of at least 38p per share for FY26, up from 36p in FY25 [3][28] - The company has a progressive dividend policy, reflecting its commitment to returning value to shareholders [28] Portfolio Composition - As of 30 April 2025, the Portfolio was valued at £1,386m, with 86% of the Portfolio valued using valuations from 31 March 2025 or later [15][17] - The Portfolio composition included 51% in Primary investments, 34% in Direct investments, and 15% in Secondary investments [13][12]

Highlights - ICG Enterprise Trust delivered a NAV per Share Total Return of 10.5% for the year ending 31 January 2025, with a closing NAV per Share of 2,073p [2][38] - The portfolio companies achieved a 15% earnings growth over the last twelve months, contributing to a robust operational performance [3][47] - The company returned £59 million to shareholders, representing 5% of the opening NAV, through dividends and share buybacks [3][15] Financial Performance - The portfolio grew by 10.2% on a Local Currency Basis during the year, with a Portfolio Return on a Sterling basis of 10.6% [6][37] - Total new investments amounted to £181 million, with commitments of £83 million made during the year [3][44] - The company executed 40 full exits at a weighted-average uplift to carrying value of 19%, generating total proceeds of £150.8 million [52][54] Capital Allocation and Shareholder Returns - The Board declared a total dividend of 36p per share for FY25, marking a 9% increase compared to FY24 [15][60] - Share buybacks returned £36 million to shareholders, reducing the share count by 4.3% during the year [15][20] - The company has a proactive capital allocation policy, balancing new investments with cash returns to shareholders [18][19] Portfolio Composition and Strategy - The portfolio is geographically balanced between North America and Europe, focusing on mid-market private companies with resilient growth characteristics [16][32] - The investment strategy includes a mix of Primary, Direct, and Secondary investments, with a target portfolio composition evolving towards more Direct and Secondary Investments [34][41] - At 31 January 2025, the portfolio was valued at £1,523 million, with 52.3% in US Dollar, 38.4% in Euro, and 9.2% in Sterling [69][70] Market Environment and Outlook - The company is well-positioned to navigate current market uncertainties, supported by a robust balance sheet and strong origination network [4][25] - The secondary market is expected to present compelling opportunities for future investments [4][23] - The focus on private equity-owned companies is seen as a structurally attractive allocation within investment portfolios, with a track record of attractive returns [30][32]

NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the "Investment Manager"), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital ap ...

新备案基金125支，募资认缴金额381.50亿元人民币 企查查数据显示，上周(04.21-04.27)中国证券投资基金业协会（简称"中基协"）新备案私募股权、创业投资基金共125支，累计募集认缴金额381.50亿元人民 币。从基金所属地区分布看，新备案基金数量最多是江苏省，新备案24支基金，合计占比19.20%；累计募资认缴金额最高是上海市、江苏省和河南省，占 比为上海市19.06% 、江苏省17.66%、河南省13.11%。募集认缴金额较大的基金是河南工融平煤神马股权投资基金，规模50亿元，合伙人包括工银金融资产 投资有限公司、工银资本管理有限公司、中国平煤神马控股集团、河南平煤神马私募基金管理有限公司。工银投资为中国工商银行设立的AIC，工银资本则 为工银投资全资子公司。 新备案私募基金数量表 | 所属地区 | 备案私募基金数(支) | | --- | --- | | 江苏省 | 24 | | 浙江省 | 22 | | 广东省 | 19 | | 山东省 | 13 | | 安徽省 | 10 | | 上海市 | 7 | | 湖北省 | 4 | | 四川省 | 4 | | 北京市 | 4 | | 江西省 | 3 ...

本期导读： 医疗保健公司逆势布局，出资活跃度创今年以来新高，主要围绕生物医药产业布局。从地域上来 看，浙江省上市公司势头最猛烈，无论是出资频次还是规模，都位居前列。 作者丨FOFWEEKLY 本期推荐阅读5分钟 19 20 30.00 15 20.00 10 10.00 5 0 0.00 3月 2月 3月 4月 2月 ୧ 넘 7月 8月 o be 10月 11月 12月 1月 2024年 2025年 出资规模(亿元) = 一 出资次数 3月份，上交所、深交所共有19家上市公司（含子公司）对私募股权基金进行了出资 共投向19支基金,出资笔数共计19笔,已披露金额的出资额合计7.54亿元,平均单笔出 资额0.4亿元。 近一年出资基金的平均规模 25.00 20.00 19.47 15.00 14.68 10.00 10.19 9 94 5.00 6.31 6.23 5.69 5.37 4.78 4.35 3.84 2.98 0.00 4月 2月 ୧用 7月 8月 9月 10月 11月 12月 1月 2月 3月 2024年 2025年 3月参与出资基金的平均规模整体较低,上市公司出资规模与活跃度连续三个月下降。 医 ...