Montagu Taps TPG for €2 Billion Wireless Logic Continuation Fund

Private equity firm Montagu has raised a €2 billion ($2.3 billion) continuation fund for Wireless Logic, a provider of smart connectivity services, to help it hold onto the asset even longer.

Montagu, which owns the majority of Wireless Logic, is creating a new continuation vehicle led by TPG GP Solutions that will hold the business, according to a statement reviewed by Bloomberg News. CVC Secondary Partners and Partners Group will be co-lead investors in the fund, it said in the statement.

The deal values Wireless Logic at about £3.5 billion ($4.6 billion), according to people familiar with the matter. ...