As this week kicks off, a large number of working parents here in Massachusetts (present company included) face the complexities of navigating our own remote work alongside our children’s remote learning. Let the home WiFi Hunger Games begin! Maybe it’s time to upgrade my Internet service.

In the private-equity world this morning, our own Preeti Singh looks at a new effort by the MIT Sloan School of Management to improve environmental, social and governance investment practices. The project has secured its first institutional partner in Massachusetts’ largest state pension manager. Preeti also has an update on Jordan Co.’s fundraising progress, while Miriam Gottfried reports on a $650 million investment led by Silver Lake in Swedish fintech company Klarna. Finally, Laura Cooper has news on a $20 million investment in BrüMate, a small but rapidly growing provider of drinkware for alcoholic beverages.

Dive on in for more on these stories and other news of the day...

An effort to refine the measurement of environmental, social and governance factors in investing has received a boost from the overseers of Massachusetts' public pensions, who committed to help gather data and other input for the project led by a group from MIT’s Sloan School of Management, Preeti Singh reports for WSJ Pro Private Equity. The $75 billion Massachusetts Pension Reserves Investment Management board of trustees agreed to join the Aggregate Confusion Project to improve and build on its own ESG investing practices and research.

A group led by private-equity firm Silver Lake is investing $650 million in Klarna Holding AB, according to people familiar with the matter, betting on a company that has benefited from the accelerated shift to e-commerce brought on by the coronavirus pandemic, Miriam Gottfried writes for The Wall Street Journal. The investment values the Swedish payments company, which allows consumers to pay in installments at various retailers, at $10.65 billion, the people said.

Jordan Co. has collected over a third of the capital it aims to raise for its fifth Resolute fund as new management takes over, Preeti Singh writes, citing people familiar with the matter. The New York firm has a $4 billion target for its Resolute Fund V LP vehicle and has raised more than $1.5 billion so far, the people said. Jordan Co. has set an upper limit or hard-cap for the fund of $4.5 billion, according to public documents from the Nebraska Investment Council, which last week committed $50 million to the vehicle.

Fall is approaching and we are seeking nominations for our annual Women to Watch list. Know a talented senior female deal maker or rising star deal maker that deserves recognition? Or perhaps a woman that is making strides in the fundraising or limited partner world? Let the industry know by nominating her here. We are accepting nominations until Sept. 25.

BrüMate, which sells insulated drinkware for alcoholic beverages, has received backing from consumer-focused private-equity firm San Francisco Equity Partners, Laura Cooper writes for WSJ Pro Private Equity. The firm made a $20 million strategic growth investment in BrüMate, marking the first time the company has taken on outside institutional capital, according to Scott Potter, managing partner at San Francisco Equity Partners.

Uruguay-based payments startup dLocal raised $200 million at a $1.2 billion valuation from General Atlantic and Lee Fixel’s Addition, as interest in the Latin American tech startup market persists despite foundering economies, Yuliya Chernova reports for WSJ Pro Venture Capital.

ViacomCBS Inc. has reached an agreement to sell CNET Media Group to private equity-backed Red Ventures LLC, as the entertainment giant sheds parts of its business to focus on video streaming, Benjamin Mullin reports for The Wall Street Journal. Red Ventures, a media and technology company owned by Silver Lake and General Atlantic, said Monday it would pay about $500 million to acquire the network of websites, which includes CNET, GameSpot and ZDNet. Red Ventures' initial interest in CNET was first reported by The Wall Street Journal last month.

Searchlight Capital Partners has agreed to invest $425 million in publicly-held broadband communications provider Consolidated Communications Holdings Inc. to help reduce debt and enhance liquidity. The investment will be structured in two stages, the first of which calls for Searchlight to invest $350 million in exchange for rights to an unsecured subordinated note with a roughly $395 million principal amount and around 8% of the company’s common stock, according to a press release.

Middle market-focused Highlander Partners has acquired Hilo Nutrition Inc., a maker of ingredients contained in gummy confection edibles. The Columbus, Ohio-based company provides alternatives to powder-based dietary supplements and was founded in 2018.

Thomas H. Lee Partners has agreed to acquire sales and regulatory compliance automation company Insurance Technologies LLC from NexPhase Capital. NexPhase is an operationally focused private-equity firm that acts as a sub-adviser to the Moelis Capital Partners Opportunity Funds. Colorado Springs, Colo.-based Insurance Technologies mainly serves life insurers and annuity providers. The insurtech company will retain its management team, led by David Fenimore as chief executive, following the deal.

Canadian private-equity firm Novacap has acquired a majority interest in Optiom Inc. The target is a specialty insurance managing general underwriter and provider of vehicle replacement coverage.

MDLIVE Inc., a U.S. telehealth company, said it has received a $50 million investment from the growth investment arm of global firm Sixth Street. The company plans to use the funding primarily for the expansion of its Virtual Primary Care digital health platform, as well as to launch supporting products and services,  according to a press release. The company secured $25 million in debt from other investors through a separate transaction, according to the release.

Midmarket private-equity firm Sterling Partners has invested in Datacubed Health, a technology company that provides electronic clinical outcome assessments to patients in clinical trials. The investment brings the total amount of money that Datacubed has raised from its founders, angel investors and Sterling to $30 million, according to a press release.

Middle-market private equity firm BV Investment Partners is backing both GlideFast Consulting and Pharicode, which it described as sister companies and partners of enterprise software and cloud computing provider ServiceNow Inc. Based in Woburn, Mass., GlideFast helps commercial clients of ServiceNow with systems integration, training and other services. Huntsville, Ala.-based Pharicode provides similar services, particularly to state and local governments

H.I.G. Capital, LLC completed the acquisition of 272 for-rent residential units in Dublin. H.I.G. has real-estate assets across Europe.

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

A blank-check company led by investment professionals from Oaktree Capital Management plans to raise $225 million to finance the purchase and take-public of a private company in the industrial or consumer sectors, a regulatory filing shows. Oaktree Acquisition Corp. II, as the special-purpose acquisition company is known, is led by members of Oaktree Capital’s Value Equities team, with Portfolio Manager Patrick McCaney serving as the SPAC’s chief executive and managing director Alexander Taubman serving as president, the filing shows. Los Angeles-based Oaktree Capital is majority owned by Canada’s Brookfield Asset Management Inc.

A blank-check company backed by AEA Investors and Bridges Fund Management Ltd. has filed to raise $400 million through an initial public offering of shares to finance the purchase and take-public of a private company selected by using environmental, social and governance criteria, a regulatory filing shows. AEA-Bridges Impact Corp. cited the competitive advantages of impact investing that produces better outcomes for all stakeholders in the filing. The special purpose acquisition company is led by John Garcia as chairman and co-chief executive and Michele Giddens as co-CEO. Mr. Garcia is executive chairman of AEA while Ms. Giddens is co-CEO and a co-founder of Bridges, the filing shows.

Private-credit firm MC Credit Partners is backing a blank-check company that aims to raise $250 million to finance the purchase of a private company and take it public, a regulatory filing shows. The special purpose acquisition company, called Atlantic Street Acquisition Corp, said it expects to find a deal in the technology, media and telecom, healthcare, technology enabled financial services, or Fintech, and other business and consumer related services sectors. An MC Credit co-founder, Ashok Nayyar, is chairman and chief executive of the blank-check company and serves as the credit firm’s chief investment officer. The SPAC’s co-presidents, Michael Zimmerman and David Gelobter, are both MC Credit managing directors.

Private-equity backed GoodRx Holdings Inc. on Monday said it expects to sell 23.4 million shares at between $24 and $28 apiece in its planned initial public offering, pushing its valuation toward the $10 billion mark, Colin Kellaher writes for Dow Jones Newswires. Meanwhile, shareholders in the company, which operates a prescription drug price-comparison shopping platform, plan to sell an additional 11.2 million shares in the IPO, bringing the total size of the offering to about 34.6 million shares, according to a filing with the Securities and Exchange Commission.

Lower middle market-focused Seaport Capital, alongside Countrywide Broadband, has agreed to sell internet infrastructure company i3 Broadband to London-based Wren House Infrastructure  Management Ltd. Seaport acquired a stake in the triple-play provider of telecommunications, cable TV and internet services in parts of Illinois and Rhode Island from Countrywide in 2016.

ArcLight Capital Holdings is asking for government permission to sell its stakes in coal-fired power plants in Pennsylvania to a group that includes Bardin Hill Investment Partners and Riverstone Holdings, S&P Global Market Intelligence reported, citing Federal Energy Regulatory Commission filings. The investment firm holds a roughly 35% interest in the 1,711 megawatt Conemaugh plant in Indiana County and a nearly 44.5% interest in the Keystone plant in Armstrong County, which has an identical generating capacity. The stakes are owned by ArcLight Energy Partners Fund V.

GCM Grosvenor has completed a final close for its Labor Impact Fund with $893 million in committed capital. The fund originates and executes infrastructure projects that include union labor as a contributing factor to enabling attractive risk-adjusted returns.

Providence Equity Partners LLC has hired Greg Brown as an operating partner. Mr. Brown is a former president and CEO of collegiate sports marketing firm Learfield IMG College. Providence Equity was a majority owner of Learfield between 2013 to 2016. 

Frazier Healthcare Partners is adding Vivek Sharma and Girish Venkatachaliah to its growth buyout team, focusing on health-care data and artificial intelligence applications in the sector. Mr. Sharma joins the Seattle firm as partner, data and analytics investment strategies while Mr. Venkatachaliah joins as partner, data and artificial intelligence. A former Thomas H. Lee Partners operating partner, Mr. Sharma was most recently the chief executive of software company Decision Resources Group.  Mr. Venkatachaliah, a technology industry executive, was most recently executive vice president and chief technology officer at Decision Resources.

Toronto- and New York-based Beringer Capital has appointed Lu Cacioppo as a managing partner on its investment team. Before joining Beringer Capital, Cacioppo served as the leader of Deloitte Private practice in the Ontario region.

Oracle's bid to become the "trusted technology partner" for the popular Chinese-owned TikTok app may not be a standard-issue business deal, but it's an example of the sort of arrangement that must undergo a national security review, Katy Stech Ferek reports for The Wall Street Journal, citing lawyers who advise companies in such cases. Treasury Secretary Steven Mnuchin said Monday that the Oracle bid would be reviewed by the Committee on Foreign Investment in the U.S., a national security panel. Attorneys say the panel is increasingly dealing with matters that involve data privacy, as well as deals that involve minority investments, private-equity investments and limited partnership structures.

Federal regulators are preparing to reprimand Citigroup for failing to improve its risk-management systems—an expansive set of technology and procedures designed to detect problematic transactions, risky trades and anything else that could harm the bank, David Benoit and Ben Eisen write for the Journal.

Over the past six months, technology investor SoftBank Group Corp. has signed more than $90 billion in deals to sell some of its most valuable holdings—most recently, U.K. chip designer Arm Holdings, Phred Dvorak reports for the Journal. Now the big question is: What will the Japanese conglomerate do with all that money? SoftBank has committed to spend about half the sum to buy back its own shares and pay down debt, and it has said it needs lots of extra cash to bolster its balance sheet in uncertain times.

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