Good day Pro Private Equity readers. As the Ukraine war continues, investors are flocking to haven assets such as gold and government bonds, our Wall Street Journal colleagues report. In the private-equity world, deal activity continues, although perhaps not with quite the same fervor. In this morning’s news, our Journal colleagues Dana Cimilluca and Cara Lombardo report that a group of investors led by Elliott Management is in advanced talks to acquire Nielsen, while I report that Court Square Capital Partners has backed digital marketing agency Power Digital Marketing. Finally, our own Laura Cooper covers a healthcare report from Bain & Co. looking at the rise of mega deals in the healthcare sector last year.

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A consortium of private-equity firms including Elliott Management Corp. is in advanced talks to buy TV-ratings company Nielsen Holdings PLC for about $15 billion including debt, Dana Cimilluca and Cara Lombardo report for The Wall Street Journal, citing people familiar with the matter. Financing talks with a number of banks are progressing and a takeover deal could be completed within weeks, the people said. There is no guarantee there will be a deal, as the talks could still fall apart.

In the midst of the largest public-health crisis in recent memory, private-equity firms poured cash into health investments resulting in a string of megadeals and a record year for mergers and acquisitions, WSJ Pro Private Equity's Laura Cooper writes.  A report from consulting firm Bain & Co. found that there were 30 sponsor-led transactions last year involving healthcare businesses where deal values exceeded $1 billion. These large deals, which Bain classified as megadeals, helped pave the way for a record year in healthcare investing, resulting in some $151 billion worth of private-equity transactions into companies in the sector globally. By comparison, aggregate deal totals reached $66 billion in 2020 and $79 billion in 2019, the previous high water mark.

Court Square Capital Partners has backed marketing technology company Power Digital Marketing to help the company further expand its services and clientele, including those in the private-equity industry itself, Laura Kreutzer reports for WSJ Pro Private Equity. Midmarket-focused Court Square is the second private-equity firm in recent years to back the San Diego-based company, which helps businesses, particularly consumer brands, analyze and improve their marketing efforts. Chicago-based Periscope Equity, which first invested in Power Digital in 2019, is exiting its stake.

Telecom Italia SpA, the former national telephone company of Italy, said it would formally explore KKR & Co.’s roughly $12 billion take-private offer following a meeting of the board of directors of Groupo TIM, as the company is formally known. New York-based KKR offered ​​€0.505 per share for the company, or 55 cents per share. The deal represented a 47% premium to the Nov. 19 closing price of the shares just before Groupo TIM made it public. Vivendi SE, the media conglomerate steered by the family of French billionaire Vincent Bollore, owns a nearly 24% stake in the former government monopoly, which also has significant operations in Brazil and about €17.57 billion in debt. The company also said it would explore a “possible integration” with Open Fibre SpA, a government-controlled broadband services provider.

Insight Partners led a $50 million investment in Socotra Inc., a provider of technology to the insurance industry, joined by existing investors including Portage Ventures, Brewer Lane and Nationwide Ventures, according to a news release. The San Francisco-based company specializes in cloud-based applications and product-development services.

Blackstone Inc.’s real-estate strategy has acquired a 49% stake in a 67-story New York office building from Brookfield Asset Management Inc. in Toronto and the Qatar Investment Authority in a transaction that values the property at about $2.85 billion. The structure, One Manhattan West, represents almost a third of the sellers’ 7 million square foot Manhattan West development on the island’s West Side. The building designed by Skidmore, Owings & Merrill rises from the corner of Ninth Avenue and West 33rd Street, near Pennsylvania Station, and opened for use in 2019.

Bain Capital and Griffin Global Asset Management are backing a new low-cost airline being set up in the Dominican Republic, called Dominican Wings SA, which operates under the Arajet brand, according to a news release. The company has ordered 20 Boeing 737 MAX aircraft and has an option to acquire an additional 15 planes, the Chicago-based aircraft manufacturer said in a separate release. Arajet’s first airliner is leased from Griffin, Boeing said. Bain Capital is investing through its special situations strategy.

One Equity Partners has agreed to acquire PGW Auto Glass from publicly traded auto parts and equipment company LKQ Corp., according to press releases issued by both firms. The distributor of aftermarket glass for the auto industry generated nearly $400 million in revenue in 2021, according to an LKQ press release.

Dallas-based oil-and-gas firm Silver Hill Energy Partners has agreed to acquire oil-and-gas assets in the Haynesville shale region from Pine Wave Energy LLC, a portfolio company of Waltham, Mass.-based private investment firm Old Ironsides Energy LLC. The assets include around 12,500 net acres with ownership stakes in 10 operated wells located in Caddo Parish, La., and Harrison and Panola Counties, Texas, according to a press release. The deal also includes 18 miles of natural-gas-gathering pipelines and other midstream infrastructure associated with the assets.

Midmarket investment bank Lincoln International said it has agreed to acquire Spurrier Capital Partners, a New York-based boutique investment bank focused on technology and software. The Spurrier team will become part of Lincoln’s technology, media & telecom (TMT) group, according to an emailed press release.

Waterous Energy Fund in Calgary, Alberta, has combined recently acquired Caltex Resources Ltd. and Tucker thermal oil properties with its Strathcona Resources Ltd. portfolio company. The investment firm raised about 345 million Canadian dollars, or about $270.7 million, in January to finance the two acquisitions and said Strathcona has secured a C$1.5 billion credit line for further investment.

Carlyle Group Inc. has agreed to buy motorcycling outerwear maker Dainese Group from Investcorp and founder Lino Dainese. The Vicenza, Italy-based company designs and manufactures safety equipment such as wearable air bags as well as crash helmets along with outerwear for riders and sports enthusiasts. The company, which operates 36 stores in seven countries, also owns the AGV and TCX motorcycle helmet and shoe brands. Carlyle is backing the company through its fifth Europe buyout fund, which has about €6.4 billion, equivalent to $7 billion, or committed capital. Investcorp bought the business from Mr Dainese at an enterprise value of about €130 million in November 2014, although he retained a minority stake.

Prosnav Capital in Hong Kong led a growth investment in drug developer Ayoxxa Biosystems GmbH, joined by several existing investors, including Wellington Partners and Rainer Christine Asset Management GmbH, according to a news release. The company originated at the National University of Singapore but is now based in Cologne, Germany.

Mereo Capital Partners and Point Lookout Capital Partners backed a roughly $21 million management-led buyout of the Luna Labs division of fiber-optic technology company Luna Innovations Inc. in Roanoke, Va., according to a news release.

LYFE Capital and Qiming Venture Partners led a $70 million investment in drug developer MediLink Therapeutics (Suzhou) Co., joined by Legend Capital, Loyal Valley Capital and Highlight Capital, according to a news release. The  Suzhou, China-based company was formed in 2020 by Tongtong Xue, its chief executive.

Consumer-focused Goode Partners has backed a $30 million growth investment in Jocko Fuel, a sports drink and nutritional products brand.

Miami-based lower midmarket firm Fourshore Partners said it has acquired Buske Logistics, a provider of contract logistics services with expertise in the packaging, food and beverage, and automotive industries, according to a press release.

Alpine Investors is backing short-term-rental data provider AirDNA LLC with an undisclosed growth investment, according to a news release. The Denver-based company founded in 2014 provides data and insights on more than 120,000 rental markets across the world, tracking the performance of some 10 million vacation rental units.

Grupo Zárate Verástegui, a private-equity firm in Lima, has acquired a majority interest in education company Colegios Proeduca SA, which operates as Futura Schools in Peru, according to a post on the firm’s LinkedIn page. The company operates schools and other assets in several Peruvian cities.

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

Audax Group in Boston is selling health services provider Lifemark Health Group to strategic buyer Loblaw Cos. for 845 million Canadian dollars, equivalent to about $663 million, according to a news release from the buyer. Loblaw’s Shoppers Drug Mart group is acquiring the business, the Brampton, Ontario-based supermarket chain said. Lifemark provides outpatient services such as massage therapy and mental-health counseling through more than 300 clinics in Canada. Separately, Audax said it has sold its stake in prepared foods company Stonewall Kitchen LLC, whose brands include Tillen Farms and Vermont Coffee Co., to TA Associates in Boston. Audax initially backed the York, Maine-based company in 2019.

Greenbriar Equity Group and First Aviation Services Inc. have agreed to sell DART Aerospace to publicly traded TransDigm Group Inc. for around $360 million, according to a press release. Montreal-based DART Aerospace provides helicopter equipment and components primarily for civilian aircraft and expects to generate around $100 million in pro-forma revenue for the year ending Dec. 31, 2022. Greenbriar and First Aviation acquired the company back in 2019.

The Halifax Group said it has sold its majority stake in TriMech Solutions LLC to fellow private-equity firm Sentinel Capital Partners, although Halifax will remain a minority investor in the company. TriMech, of Richmond, Va., offers engineering and manufacturing software and services and partners with companies that include Dassault Systèmes and Stratasys, according to a press release. Halifax initially backed the company in 2020.

Quantum Energy Partners is selling Trace Midstream to Williams Cos. in a deal valued at about $950 million that is expected to result in an investment of about six times estimated adjusted pre-tax earnings next year, according to a news release. Under the deal, Quantum’s Rockcliff Energy portfolio company, operating in the U.S. Haynesville shale region, has agreed to commit capacity to support the Louisiana Energy Gateway natural-gas project being developed by Williams. Quantum also agreed to form a joint venture with Williams to invest in the gas project.

KKR & Co. has raised $17 billion for KKR Global Infrastructure Investors IV, more than double the size of a predecessor fund, which wrapped up with $7.4 billion in 2018. KKR will be investing $1 billion alongside the fund’s limited partners through the firm’s balance sheet, affiliates and employee commitments, according to a press release. Limited partners that disclosed commitments to the new fund include the Minnesota State Board of Investment, Santa Barbara County Employees’ Retirement System and State of Michigan Retirement System.

Glade Brook Capital, a global growth firm focused on Internet and software sectors, has raised $404.5 million so far for Glade Brook Strategic Growth III LP, according to a regulatory filing.

Chicago-based midmarket firm GTCR announced several promotions within its industry sector investment teams. The firm has promoted Sean Cunningham and Ben Daverman to co-heads of its healthcare team, Aaron Cohen as head of the financial services and technology team, and Mark Anderson as co-head of the technology, media and telecommunications team.

Blue Wolf Capital Partners has hired Natalie Marjancik as a managing director, capital markets and said she is joining the New York firm’s senior leadership team. She was most recently a managing director with investment bank Lincoln International.

KKR & Co. has hired Lindsey Wright as managing director and head of investment services for the firm’s U.S. real-estate credit unit, according to a news release. Ms. Wright previously served as a senior managing director of asset management at real-estate finance company Greystone and before that spent 18 years at C-III Asset Management, which Greystone acquired in 2020.

Coatue Management has hired Sarah Cannon from Index Ventures as its first general partner based in Europe, Ms. Cannon said in a post on her LinkedIn page. She said she’ll be leading the New York firm’s venture and growth equity investments from London starting in late spring.

NewView Capital, a growth-oriented venture-capital firm, said it has hired Chetan Chaudhary as a partner focused on helping portfolio companies with hiring, identifying new routes to market, and establishing sales productivity and sales motions, according to a press release. Before joining the firm, Mr. Chaudhary served in roles that included chief revenue officer at artificial intelligence technology company Scale.ai Inc. and the global vice president of vertical sales at communications technology company Twilio, the release stated.

Lower midmarket investment firm Branford Castle Partners said in an emailed announcement that it has promoted Senior Managing Director Laurence B. Lederer to managing partner at the firm.

The Ontario Teachers' Pension Plan Board said its net assets grew to $241.6 billion as of Dec. 31, 2021, driven partly by strong performance from its private-equity portfolio. The holdings produced a 29% return last year, which contributed to an overall 11.1% net return for the total fund, according to a press release. The plan said it is fully funded for the ninth straight year.

Macquarie Group’s asset-management arm has acquired financial advisory firm Central Park Group LLC to serve as the basis for a roll-up strategy focused on advisers to high-net-worth investors, according to a news release. The New York-based firm helps qualified clients invest in private-equity and hedge funds, as well as funds-of-funds managers and real estate and had more than $3.5 billion of assets under management at the end of last year.

A blank-check company led by executives of energy specialist Denham Capital Management in Boston has withdrawn its plan to raise $200 million to acquire and bring public a private business involved in the transitional energy sector, regulatory filings show. The special-purpose acquisition company is led by Denham founder Stu Porter and Denham Managing Partner Jordan Marye, one of the filings shows. The company registered for its IPO about a year ago.

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