New Mountain Capital is reportedly backing the vehicle for the wealth management platform, marking the first investment from its new GP-led strategy.
The CV would reportedly acquire ByteDance and Ant Group stakes at roughly a 30% discount to their combined $1.5 billion NAV.
Founded in 2006, Excellere is a private equity firm focused on growth-oriented investments across healthcare, industrial growth, and business services.
GCM Grosvenor, Ardian, StepStone, North Hudson Resource Partners, and Phoenix Insurance anchored the single-asset vehicle for energy infrastructure company Next Wave.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
M-One Capital's single-asset continuation fund is part of a comprehensive recapitalization of the US drive-through coffeehouse chain.
The deal marked the 13th and final investment from New 2ND's third GP-led secondaries fund, Partner and COO Evert Vink told SecondaryLink.
Campbell Lutyens advised on the single-asset continuation fund that extended Parthenon's hold on the wealth management platform.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The deal marks the Florida-based investment firm's second continuation vehicle, following its debut Fletchers Solicitors transaction in February.
