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Weekly Investment Picks (March 16 to March 23)

Mar 23, 2020 The latest family office and institutional deals from the past week.

Blackstone invests in warehouse properties on surging online shopping.
Blackstone has purchased 22 industrial and logistics properties in the UK for £120m from London-based real estate investment manager Clearbell Capital. The deal gives the group access to a sector of the economy that is expanding despite the ongoing shutdown.

BT sells Latin American assets
CIH Technology, a buyout group, has decided to purchase BT Group PLC’s Latin American assets for an undisclosed sum. The deal includes The divestment includes the sale of two fibre networks, 2,000km of leased fibre lines, and four data centres in 16 of the 28 countries BT operates in the region.

KKR Buys British recycling company for £4.2bn
Investment giant KKR has purchased Viridor Limited, the recycling unit of British waste management company Pennon Group Plc. The deal is pending approval from Pennon shareholders, merger control clearance from the European Commission, but is expected to close by summer, 2020.

Baird Capital invests in workspace solutions
Baird Capital, the private investment arm of Robert W Baird & Co., has invested in Aura Futures, a UK-based provider of workspace technology to mid to large-size enterprises. Aura operates six offices servicing 300 clients across the world.

Hellman & Friedman buy Israeli cybersecurity firm for $1.2bn
New York-based venture capital firm Insight Partners has sold Israeli cybersecurity firm Checkmarx for $1.2bn to Hellman & Friedman. Founded in 2006, Checkmarx services 1,400 clients across 70 countries.

Startup Raises $2M From Khosla Ventures To Create Rapid COVID-19 Testing Kit
E25Brio, a Cambridge, Massachusetts-based startup working out of The Engine at the Massachusetts Institute of Technology (MIT) has raised $2 million from Khosla Ventures to launch a rapid COVID-19 testing kit. The test could be available for less than $30 per kit by the end of April.

Fox buys Tubi streaming service for $440M
For Corp. announced on Tuesday that it would acquire streaming service Tubi at a valuation of $440 million. Tubi is currently ad-supported and offers more than 20,000 titles from over 250 content partners.

Game publisher Scopely Adds $200M to Series D
Culver City, California-based Scopely, a profitable game developer, has successfully extended its Series D round from the original $200 million to $400 million this week. The company’s post-money valuation is now $1.9 billion.

Toronto-based Ada Raises $44M in Series B
Ada, a Canadian developer of an automated customer experience (ACX) platform, has raised $44 million in its latest round of funding led by Accel Partners. Existing investors Bessemer Venture Partners, FirstMark, Version One, Burst Capital and Leaders Fund also added to the round.

UserTesting Raises $100M in Series C
Insight Partners, along with previous investors Accel, Greenspring and OpenView have invested $100 million in customer testing and feedback platform provider UserTesting. The company has also used previous funds to acquire Norwegian rival Teston.

Indonesia’s Gojek raises $1.2bn for expansion
Ride-hailing startup Gojek has raised $1.2 billion in a Series F round of funding. The company, which competes with Singapore-based Grab and US-based Uber, intends to use the funds to expand services beyond Indonesia.

Costco acquires freight company for $1 billion
Costco Wholesale Corp acquired Innovel Solutions Inc, a Hoffman Estates-based provider of freight transportation arrangement services, from Transform Holdco

Huntsman Corp to acquire Canadian chemical company for $300mn
Huntsman Corp, a manufacturer and marketer of chemical products for consumers and industrial customers, has acquired CVC Thermoset Specialties Inc, a Vancouver-based manufacturer of chemical products, from Emerald Performance Materials LLC.

Canada’s Boyd Group acquires auto repair provider.
The Boyd Group Inc of Canada, a unit of Boyd Group Income Fund, acquired Nagel Auto Body, a Waukesha-based provider of automotive repair services. The company has been providing collision repair services since 1986.

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