Give me a headache—if that’s the worst potential ill-effect of Pfizer’s Covid-19 vaccine, I’m ready.

According to the Journal’s Jared S. Hopkins, the federal Food and Drug Administration may be able to clear the vaccine for general distribution as early as next month—lightning speed, considering it wasn’t so long ago that getting a new drug or vaccine from lab bench to U.S. pharmacy shelf took years. So here’s hoping all is good with the new vaccine candidate and that it ushers in a quick end to the pandemic. If the worst the drug can deliver as a side effect is a headache and a yearning for a nap, no problem. Let the manufacturing begin.

The pandemic’s fallout has thrown private-equity deal making for a loop in the U.S., according to a study from Ernst & Young Global Ltd., our Chris Cumming reports. It also has hampered fundraising. Meanwhile, our Laura Cooper reports a new technology-focused private-equity firm in Seattle, Pike Street Capital, has collected more than $200 million for its debut fund. And in China, our Journal colleague Jing Yang details a new venture fund that has been raised despite industry consolidation there. For these stories and much more, please read on...

Private-equity deals have surged in Asia and fallen in the Americas this year, highlighting the uneven impact of the coronavirus pandemic, Chris Cumming reports for WSJ Pro Private Equity, citing a forthcoming study. The value of acquisitions in the Asia-Pacific region by private-equity firms more than doubled this year through September compared with the same period last year, according to research from Ernst & Young Global Ltd. In the Americas, investment fell by 44%, while in the region comprising Europe, the Middle East and Africa it was roughly flat, the accounting and consulting firm said in a report to be released Thursday.

A Seattle-based private-equity firm has closed its inaugural fund to invest in industrial technology companies, Laura Cooper writes for WSJ Pro Private Equity. Pike Street Capital collected $237 million for its debut vehicle, exceeding its original $200 million target. The firm already has backed three companies from Pike Street Capital Partners LP, which is expected to be home to seven portfolio companies, according to Paul Caragher, a managing partner.

China’s Future Capital Discovery Fund said Wednesday it closed its fourth and largest fund, raising $187 million from global investors entirely from virtual roadshows amid deepening consolidation in the country’s venture-capital industry, Jing Yang reports for The Wall Street Journal. The USD Fund IV received commitments from several university endowments, including in the U.S., as well as family offices, fund of funds and high-net-worth individuals, according to the firm. Founded in 2014, Future Capital focuses on early-stage investments in digital business services, software as a service, IT infrastructure and artificial intelligence.

Clearlake Capital Group agreed to purchase Wellness Pet Food Holdings Co. from Berwind Corp. The Tewksbury, Mass.-based business makes premium dog and cat food sold under the Wellness, Old Mother Hubbard, Whimzees, Eagle Pack, Holistic Select and Sojos brands. It has factories in Indiana, Minnesota and the Netherlands. Private investment company Berwind initially backed WellPet in 2007.

KKR & Co. has agreed to acquire animal drug developer and manufacturer Argenta Ltd. from Tomlinson Group, which will retain a significant stake in the business. The contract research and manufacturing company started in New Zealand in 2006 was first backed by Tomlinson in 2011 and has expanded to serve animal health markets in the U.S. and U.K. KKR is investing in the business through its Health Care Strategic Growth Fund. The deal is valued at around $100 million, Elisângela Mendonça reported for sister publication Private Equity News in London, citing a person familiar with the situation.

Carlyle Group Inc. led a preferred equity investment in fund administrator Apex Group Ltd., which also provides financial services to the asset-management and corporate sectors. The financing is expected to help the Genstar Capital-backed company acquire FundRock Management Co. in Luxembourg and Banco Modal’s Alternative Fund Administration operations in Brazil. Carlyle invested in the business through its Credit Strategies arm. Bermuda-based Apex services roughly $1 trillion in assets and is led by founder Peter Hughes as chief executive.

Centerbridge Partners has agreed to back a deal between Ahold Delhaize of the Netherlands and FreshDirect, an online food purveyor in New York City. The deal calls for Ahold to acquire FreshDirect and maintain its operations in the city, with Centerbridge holding a 20% minority stake in the business.

Goldman Sachs Group Inc.’s Merchant Banking unit is investing in fast-casual restaurant business Zaxby's Operating Co., acquiring a significant stake to support accelerated growth. The founder-led chain based in Athens, Ga. has more than 900 locations in 17 states and specializes in chicken fingers, wings and sauces.

Shore Capital Partners is backing obstetrics and gynecology services provider Women's Health Group in partnership with founder Dr. Stephen Volin and his five physician partners. The group operates nine clinical sites in Denver and surrounding communities. Chicago-based Shore Capital is backing the operation from its $293 million Shore Capital Partners Fund III LP.

Growth-equity investor WestCap Group led a $117 million investment in wealth-management technology company Addepar Inc. Other investors in the Series E financing round included 8VC, a venture-capital firm started by Addepar founder Joe Lonsdale, and Sway Ventures. Addepar’s technology is used in advising and managing more than $2 trillion in client assets, according to a news release.

Cerberus Capital Management is in discussions with the U.K.’s Co-operative Bank, Mark Latham reports for sister publication Private Equity News in London, citing Britain’s Sky News. Although the bank confirmed it was in talks about a deal, it didn’t identify the potential bidder, which Sky News reported was New York-based Cerberus. The firm bid for the bank in 2017 amid a formal sale process, but ultimately opted not to conclude a deal.

Sun Capital Partners has agreed to acquire Miami Beach Medical Group, which provides services to Medicare Advantage plan members, from Gauge Capital. The Doral, Fla.-based business works with a network of 19 medical centers in South Florida. Dallas-based Gauge initially backed the company in January 2017.

Our add-on deal interactive tool allows you to sort and analyze volumes of add-on deal data compiled by WSJ Pro. View more.

Midmarket-focused One Equity Partners has sold in-home care provider Simplura Health Group to nonemergency medical transportation provider Providence Service Corp. for about $575 million in cash. The buyer said the deal valued Simplura at about 10.6 times trailing 12-month adjusted pretax earnings of about $54.1 million as of Sept. 30. The business had trailing 12-month revenue of about $468.1 million. Valley Stream, N.Y.-based Simplura employs 14,300 caregivers working from 57 locations, mainly in the Northeast, Florida and West Virginia. One Equity initially backed the company in 2016.

Eurazeo has agreed to sell its 70% stake in Iberchem, a Spanish fragrance manufacturer, to chemicals company Croda for €820 million ($972.8 million), Elisângela Mendonça reports for sister publication Private Equity News in London. The deal values the business at about 20.5 times adjusted pretax earnings, Eurazeo said. The exit will generate a cash-on-cash multiple of 2.1 times and an internal rate of return of 25%. Proceeds will amount to €565 million for Eurazeo Capital, its affiliates and partners, the firm said. Eurazeo acquired Iberchem in 2017 for €270 million in a deal that valued the business at €405 million.

Insight Partners is seeking a buyer for its majority stake in Dublin financial software maker Fenergo, Luisa Beltran reports for sister publication Barron’s, citing private-equity executives and bankers that weren’t identified. Fenergo is said to be seeking $2 billion. Insight invested in the business more than five years ago and owns a 65% interest in the company.

Searchlight Capital Partners has wrapped up fundraising for its third flagship fund, Searchlight Capital III LP, which has closed with $3.4 billion in commitments, up from about $3.03 billion reported in a May regulatory filing. The fund is about 79% larger than its predecessor, which closed on about $1.9 billion in December 2015. Commitments to the fund came from pension plans such as the California State Teachers' Retirement System, which pledged $150 million, and the Texas Municipal Retirement System, which put up $50 million, WSJ Pro Private Equity data show. The New York firm targets investments in sectors that include communications, media and financial and business services.

Technology-focused Sinai Capital Partners has collected about $600 across two strategies, including $500 million for its Sinai Ventures III LP fund and $100 million for its New Slate Ventures media arm. Los Angeles-based Sinai said the fresh commitments bring its assets under management to roughly $800 million. Sinai ventures invests in late-stage software and technology companies while New Slate focuses on financing films and other media productions.

Health care-focused Council Capital has succeeded in raising $200 million for its fourth flagship fund, Council Capital IV LP, which is about 30% bigger than its predecessor vehicle, regulatory filings show. The Nashville, Tenn., private-equity firm raised more than $153.6 million for its third fund in 2016, according to an earlier filing. Council Capital looks for rapid growth potential in companies and generally invests in those with from $5 million to $50 million in revenue and up to $7 million in earnings before interest, taxes, depreciation and amortization, its website says.

WindRose Health Investors has named Cherrill Farnsworth as an operating partner to work with the New York firm on evaluating health-care investments and helping its portfolio company managers maximize operational proficiency and growth. Ms. Farnsworth is a former chief executive of portfolio company HealthHelp, which WindRose exited with a five-fold gain.

Valhil Capital in Houston has hired Mark Bauer as director of global real estate and logistics to help lead the firm as it pursues investments around the world. Mr. Bauer previously led missions as a commander of global counter terrorist operations for the U.K. defense ministry, according to a news release.

Level 20, the U.K.-based campaign group that works to increase the number of women working in private equity, has named Cheryl Potter as its new chairwoman, Elisângela Mendonça reports for sister publication Private Equity News in London. Ms. Potter, a former partner at London-based private equity firm Permira, will succeed George Anson in the post, effective in January. She will work closely with Pam Jackson, a former adviser with PricewaterhouseCoopers LLP who became Level 20's chief executive in November 2019.

The once-grand Baldwin Hills Crenshaw Plaza mall in Los Angeles seemed like a prime target for investors. That was before it got caught up in a combustible debate over local ownership, race and economic development, Konrad Putzier writes for The Wall Street Journal. In late April, CIM Group agreed to pay around $130 million for the property. A month later, the killing of George Floyd sparked demonstrations across the U.S. and energized opponents of the sale. Local activists claimed the deal would displace the mall’s Black-owned stores and lead to higher rents in lower-income neighborhoods nearby. Within weeks, the $29 billion private-equity firm backed out.

Unsecured creditors of Rubio’s Restaurants Inc. said the bankrupt fish taco chain and key lender Golub Capital took actions to manufacture a cash crunch and loot the company, Becky Yerak reports for WSJ Pro Bankruptcy, citing court filings. A committee of unsecured creditors on Tuesday objected to Rubio’s request for financing designed to carry the Carlsbad, Calif.-based chain through a bankruptcy reorganization. The group claimed that in many so-called prepackaged bankruptcies, junior creditors recoup much of what they are owed, but in Rubio’s case, they are threatened with little or no recoveries.

A dispute that has pitted Garrett Motion Inc., a bankrupt company that KPS Capital Partners is trying to  buy for about $2.6 billion, against former parent Honeywell International Inc. took a step toward resolution on Wednesday, as Soma Biswas reports for WSJ Pro Bankruptcy.

A survey of 600 institutional investors shows that environmental, social and governance remain a priority concern, with most giving a premium valuation to companies that score high marks in ESG categories. The survey by Daniel J. Edelman Holdings Inc.'s Edelman unit and conducted in September and October, showed that social impact has become the most important of the three areas. About 88% of participants said companies that put a priority on ESG initiatives offer better prospects for long-term returns.

Impact-focused North Sky Capital in Minneapolis has received Treasury Department authorization to award $30 million in tax credits to investors in qualified community development projects in economically distressed areas and low-income communities. North Sky, which does business as National Impact Fund, said it expects to allocate the credits to projects under review over the next several months. The Treasury authorized the credits under the New Markets Tax Credit Program, which has been used to support more than 5,300 projects across the U.S. with allocations of credits totaling $27 billion.

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