Platinum Equity - Selling Portfolio???
Anyone else curious as to what's going on at Platinum Equity? Clubcar is going up for $2b, Ingram Micro is going up for $8b, and others too. Hired GS for all which signals a need for a good sales team.
Anyone have inside insights as to the strategy or investment rational that they're following right now?
Following
Shitty investment mandate/decisions gets you into these situations.
They bought everything under the sun when the debt markets were favorable
Need to return capital
I am confused, is your question why a PE firm sells some of its portfolio companies?
Yeah I am too. Is this post implying they are selling at shitty valuations? I don’t have context around these deals but interested to hear.
Yah I think they are implying low valuations and short holding period. Acquired club car for 1.7 and ingram for 7.2, both in later 2021. But think they are blowing things out of proportion.
They sell because they can sell while many other firms can’t even do that.
DPI is the name of the game now.
One thing private equity people love doing is pretending they know how entire portfolios of other PE companies are doing based on a few companies they may vaguely know. Clubcar will be great returns despite the short hold period
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