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Blackstone Wants a Slice of the MLP Industry

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The Blackstone Group moved to acquire Harvest Fund Advisors LLC, an investment firm with more than US$ 10 billion in assets under management. Harvest Fund Advisors raises money from institutional investors in pooled funds and customized separately managed accounts, investing those assets in public master limited partnerships (MLPs) holding U.S. midstream energy assets. The separately managed accounts are marketed toward U.S. public pension plans. The asset manager invests in crude oil play exposures and NGL shale plays. Blackstone is keen on expanding its offerings in the MLP space, while possibly selling some assets to these institutional investors. Goldman Sachs, Oppenheimer, Atlantic Trust Company, Nuveen, Cornerstone Advisors and Salient Capital Advisors, all have MLP income products. Blackstone is moving the Harvest Fund Advisors under its GSO credit business.

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Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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