Gibson, Dunn & Crutcher has added Brian Scrivani as a partner and member of its M&A and private equity practice groups, based in New York. 

Scrivani was most recently a partner at international law firm Paul, Weiss, Rifkind, Wharton & Garrison. 

Scrivani advises private equity firms and public and private clients on leveraged buyouts and other private equity transactions, public company acquisitions, sales and divestitures and mergers of equals. He also advises boards of directors and special committees on corporate and securities laws as well as fiduciary and corporate governance matters, including unsolicited offers and proxy contests. 

Japan raised $11.8bn in 2023, a 13.4% increase over 2022 which was primarily driven by several substantial private equity fund closures, according to the Alternatives in APAC 2024 report from private markets data provider Preqin. 

Japan’s favourable interest rates and a weaker yen contributed significantly to this growth, pushing private capital deal values to a five-year high of $34.8bn. This figure not only surpassed the previous peak in 2021 but also positioned Japan nearly on par with China as one of the most active private equity markets in the Asia-Pacific region. 

Preqin analysts also maintain a positive long-term outlook for India’s market, noting that over the past five years, private capital in India has doubled, while the country now boasts the largest single-country AUM in private debt within the APAC region. 

Jolt Capital, a private equity firm specialising in European growth deeptech investments, has added Valéry Talma as Managing Director US – Investor Relations to its investor relations team. 

In his new role, Talma will lead US fundraising efforts and participate in the M&A and exit programme for the firm’s existing portfolio.  

Talma was most recently President and Chief Revenue Officer at QueensField AI Technologies, where he led the development, marketing and sales of AI and quantitative investment products and services to asset managers, TAMPs and RIAs.

He started his career as a banker at JP Morgan, UBS and Crédit Agricole CIB, in Paris and London, executing over $70bn worth of transactions in M&A, debt and equity capital markets and structured finance.

He later served as Head of Investment Banking at HSBC in Saudi Arabia and as Deputy General Manager at Gulf Bank in Kuwait. In 2018, Talma moved to Silicon Valley, executing venture capital investments for family offices and serving as CEO of quantitative investment company Merlyn.AI.

Jolt Capital’s investor relations team is led by Paris-based General Partner and Chief IR Officer Eric Arnould.  

In a statement, Jean Schmitt, President and Managing Partner said that Talma’s appointment emphasised “how strategic the [Silicon Valley] region is for Jolt Capital”, given the opening of its North American headquarters in Montreal earlier this month. 

Growth capital investor BGF has invested £11.5m in UK leisure and hospitality EPOS solution provider Tevalis. The deal was led by Rob Johnson and James Baker from BGF’s Yorkshire and North East team.   

As part of the deal, Rob Caul has been appointed as a non-executive chair. Caul previously founded, scaled and oversaw HR software business Kallidus through multiple rounds of PE investment.  

According to a statement, Tevalis hopes to treble recurring revenues over the next three to five years, supported by BGF’s investment in sales and marketing, product and partners, as well as international expansion opportunities.  

Tevalis was founded in 2005 by CEO James Cook and works with leisure and hospitality operators including Village Hotels, Boxpark, EG Group, Colchester Zoo and Ben & Jerry’s. The company’s electronic point of sale platform combines order and pay, kitchen, stock and cash management modules, with business analytics and reporting tools, as well as various third-party integrations. 

BGF was advised by Squire Patton Boggs and BDO. Tevalis was advised by PwC and Addleshaw Goddard. 

Cresset Partners, the private investment arm of Cresset Capital, a $50bn wealth management and multi-family office platform, has seen its flagship private credit fund, Cresset Partners Private Credit Fund, surpass $500m in AUM, since its launch last April. 

The fund’s portfolio comprises senior secured, sponsor-backed loans to US middle market borrowers, as well as other private credit opportunities. 

In a statement, Bradley Schneider, Managing Director and Head of Private Credit at Cresset, said that CPCF had “delivered annualised distributions of 12.5% for the most recent two quarters”. 

CPCF has also partnered with financial services group ORIX USA’s subsidiary, NXT Capital, a Chicago-based middle market direct lending platform operating through its direct lending group and targeting US-based borrowers with EBITDA between $5m and $50m. The partnership aims to provide individuals and family offices on Cresset’s platform with access to direct private lower middle market investment opportunities. 

Texas-based alternative asset manager TPG and global investment group CDPQ have agreed to acquire Aareon, a European SaaS provider for the property industry valued at €3.9bn, from international property specialist Aareal Bank and US private equity firm Advent International. 

Aareal Bank’s equity stake in Aareon is valued at approximately € 2.1bn. The transaction is expected to close in H2 2024, subject to customary closing conditions and approvals. 

TPG will invest in Aareon through TPG Capital, the firm’s US and European private equity platform, with CDPQ, whose co-investment will see it take a minority interest. 

Advent will invest new equity for a minority interest in Aaeron, while Aareal Bank and Aareon will continue to support their respective clients through their joint venture, First Financial Software, which provides payment software solutions for the property sector. 

In a statement, Jeff Paduch, a managing partner at Advent and a supervisory board member at Aareon, described the deal as “culminating in one of the largest software buyouts in Europe in 2024”.  

Aareon is headquartered in Mainz, Germany, and provides automated end-to-end processes between property managers and owners across the residential and commercial real estate sectors. 

CDPQ was advised by Freshfields Bruckhaus Deringer.