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Grapevine: Blackstone, Horizon Industrial, Goldman Sachs, PeopleStrong in news

VCCircle

VCCircle · 7m ago

Grapevine: Blackstone, Horizon Industrial, Goldman Sachs, PeopleStrong in news

Blackstone is reportedly planning to launch an IPO for Horizon Industrial Parks, while Goldman Sachs is in talks to acquire a majority stake in PeopleStrong.

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Goldman Sachs snaps up PeopleStrong as Multiples PE makes an exit

VCCircle

VCCircle · 4m ago

Goldman Sachs snaps up PeopleStrong as Multiples PE makes an exit

Goldman Sachs Alternatives has acquired a majority stake in PeopleStrong, a Gurgaon-based human resources technology company, from Multiples PE. PeopleStrong offers an AI-powered SaaS platform for human capital management, serving various industries. It aims to expand its user base from over 2 million to 10 million globally. The acquisition details remain undisclosed, but Multiples PE held nearly 90% since their 2017 investment. Goldman Sachs has been a significant investor in India since 2006.

Grapevine: Jubilant Group, Goldman Sachs, HDFC, Zetwerk, and LG Electronics in news

VCCircle

VCCircle · 9m ago

Grapevine: Jubilant Group, Goldman Sachs, HDFC, Zetwerk, and LG Electronics in news

The Bhartia family is reportedly in talks with an investment bank to acquire a stake in Hindustan Coca-Cola Beverages. HDFC Bank is planning to sell some commercial properties it inherited from its merger with HDFC. Additionally, Zetwerk, which is backed by Peak XV, is considering fundraising options. This news involves several prominent companies including Jubilant Group, Goldman Sachs, HDFC, Zetwerk, and LG Electronics.

Goldman Sachs acquires controlling stake in HR SaaS firm PeopleStrong for $130 million

Economic Times

Economic Times · 4m ago

Goldman Sachs acquires controlling stake in HR SaaS firm PeopleStrong for $130 million

Goldman Sachs' private equity arm has acquired a controlling stake in HR SaaS company PeopleStrong for $130 million from Multiples PE, which previously held an 84% stake. This marks the second major buyout of a SaaS company in 2023, following Everstone Capital's acquisition of Wingify. Founded in 2005, PeopleStrong reported a net profit of Rs 57 crore in fiscal 2024. This deal underscores growing private equity interest in the HR SaaS sector.

Blackstone, EQT plan portfolio firms’ IPOs; 360 One faces top-level exits

VCCircle

VCCircle · 4m ago

Blackstone, EQT plan portfolio firms’ IPOs; 360 One faces top-level exits

Blackstone has enlisted Morgan Stanley and Citi to assist with the public listing of its Indian logistics and warehousing platform, Horizon Industrial Parks. They intend to bring additional banks on board for this venture. Meanwhile, developments are underway as private equity players Blackstone and EQT prepare IPOs for their respective portfolio companies. Additionally, 360 One is experiencing significant top-level exits, impacting the organization's leadership structure and potentially influencing its strategic direction.

Grapevine: Aragen Life, Urban Company investors weigh stake sale

VCCircle

VCCircle · 11m ago

Grapevine: Aragen Life, Urban Company investors weigh stake sale

Promoters and investors of Aragen Life Sciences are considering selling a 10% stake in a pre-IPO round, valuing the company at around $1.5 billion. Potential investors, such as Quadria Capital and Novo Nordisk, are reported to be in early talks for a minority stake. Aragen Life Sciences is a contract research organization (CRO) that has received backing from Goldman Sachs.

Goldman Sachs looking to spin out its digital assets tech platform

Economic Times

Economic Times · 8m ago

Goldman Sachs looking to spin out its digital assets tech platform

Goldman Sachs plans to spin out a blockchain-based technology platform called GS DAP to streamline institutional trading and reduce settlement times. The platform will eventually become industry-owned, and Goldman Sachs has partnered with trading platform Tradeweb Markets to expand its commercial use cases. By establishing a standalone company independent of Goldman Sachs, the bank aims to provide a long-term solution for digital financial services. The spin-out is expected to be executed within the next 12 to 18 months, while Goldman Sachs continues to build out its digital assets business.

David Solomon's Pay Soars 24% Despite Profit Slump: Who is Goldman rewarding?

Livemint

Livemint · 1y ago

David Solomon's Pay Soars 24% Despite Profit Slump: Who is Goldman rewarding?

Goldman Sachs CEO David Solomon's compensation has been increased by 24% to $31 million, despite the company experiencing a 24% decline in profit. The decision comes as Goldman Sachs focuses on resolving internal conflicts and streamlining its strategy after abandoning its retail-banking ambitions. Solomon's pay package includes a $2 million base salary and $29 million in variable compensation, with a significant portion in restricted stock units. Despite challenges, Goldman Sachs shares saw a 12% increase in 2023.

JPMorgan in talks to replace Goldman as Apple’s credit card partner: Report | Mint

Livemint

Livemint · 11m ago

JPMorgan in talks to replace Goldman as Apple’s credit card partner: Report | Mint

JPMorgan Chase is reportedly in discussions with Apple to replace Goldman Sachs as the tech giant's credit-card partner. The talks have been ongoing since earlier this year and have recently advanced, but a potential deal is still several months away. Last year, Goldman Sachs and Apple ended their partnership, which involved credit cards and savings accounts. Goldman Sachs is now facing the financial consequences of its exit from this partnership, as it is seen as risky and unprofitable by other lenders.

Grapevine: Da Milano, EPL, Blackstone, Temasek, SavraGram in news

VCCircle

VCCircle · 9m ago

Grapevine: Da Milano, EPL, Blackstone, Temasek, SavraGram in news

Da Milano Italia, a luxury fashion brand, may see the promoter family explore the sale of their stake in the company. Private equity firm Blackstone is considering an exit from one of its portfolio firms that specializes in specialty packaging. Additionally, Temasek, a Singapore-based investment company, is rumored to be planning to increase its stake in SarvaGram, a rural credit startup. These developments were reported in various media outlets.

Ola Krutrim, Wow! Momo, Dream Sports, Cricbuzz in news

VCCircle

VCCircle · 3m ago

Ola Krutrim, Wow! Momo, Dream Sports, Cricbuzz in news

Bhavish Aggarwal, the founder of Ola Krutrim, is reportedly seeking to raise up to $300 million for his AI venture, revising previous plans to raise $500 million amid lukewarm investor interest. Goldman Sachs, JP Morgan, and SBI Capital Markets are assisting in this fundraising endeavor.

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