Today's Investment Banking Pulse
Blackstone commits up to $1.3bn to Apogee’s skin‑drug program
Blackstone is providing up to $1.3 billion in structured financing to Apogee Therapeutics, split between $800 million of equity and $500 million of debt with royalty‑linked returns. The capital will accelerate development of the atopic‑dermatitis candidate that recently met its Phase II primary endpoint.
Also developing:
By the numbers: Credit Agricole raises $670M via Samurai bond
Shares of Aspial Lifestyle up 6% on Proposed Transfer to SGX Mainboard
Aspial Lifestyle’s shares rose roughly 6% after the company announced a proposed transfer to the Singapore Exchange’s mainboard. The move is intended to broaden its access to equity and debt capital, appealing to institutional investors with mainboard mandates. Currently, only 14.9% of the stock is publicly held, just shy of the 15% public‑float threshold required for mainboard eligibility. Aspial operates jewellery retailers including Maxi‑Cash, Lee Hwa Jewellery and Goldheart Jewelry.
Skipping Due Diligence: A Straightforward Legal Mistake
Nah. It was cut-and-dried law. He signed the deal and chose not to do the due diligence.
CLO-and-ABS-Trends-From-SFVegas
At the annual SFVegas conference, industry leaders examined the latest CLO and ABS market dynamics. Panelists highlighted a rebound in fourth‑quarter CLO issuance, driven by a wave of resets and expanding private‑credit activity. Deutsche Bank warned that CLO equity will...
US-Regional-Seeks-the-Wides
Huntington, a US regional lender, has launched its first auto credit‑linked note (CLN) for 2026, marking a debut in the Significant Risk Transfer (SRT) arena. The transaction delivers capital relief by transferring loan‑level risk to investors and diversifies the bank’s...
Pollen-Street-Facilitates-€100m-ABF-Deal-with-Irish-Lender
Pollen Street has arranged a €100 million asset‑backed finance (ABF) transaction for an Irish lender, packaging SME loans and leasing contracts into a securitised security. The advisory handled structuring, due‑diligence and investor placement, showcasing its expertise in specialty finance. The capital...
Victory-Park-misses-target-for-US$2.5bn-ABF-fund
Victory Park announced that its asset‑backed finance (ABF) fund fell short of its $2.5 billion target, closing at roughly $1 billion. The shortfall reflects a tougher fundraising climate for specialty finance vehicles. The firm cited investor caution and tighter credit markets as...
Xanadu Highlights Path to Public Listing, Scalable Quantum Computing
Xanadu Quantum Technologies announced its plan to go public via a business combination with Crane Harbor Acquisition Corp, valuing the company at roughly $3.1 billion and leaving it with about $455 million in net cash. The firm showcased Aurora, its first networked,...
David Ellison’s $18 Billion Question
David Ellison’s Skydance is set to acquire Warner Bros. Discovery in a $111 billion transaction priced at $31 per share, representing roughly a five‑times multiple to the pre‑deal market price. The deal awards CEO David Zaslav about $800 million in proceeds and...
Verdane: Why North American LPs Are Looking to Europe
Verdane, an Oslo‑based private‑equity firm, is actively expanding its North American limited‑partner (LP) base. The move reflects a growing appetite among U.S. and Canadian investors for European assets that promise higher returns than domestic markets. Verdane’s outreach targets pension funds,...
Will Trump Scramble Santander's Plan to Buy Webster?
Banco Santander’s $12.3 billion bid to acquire U.S. regional bank Webster Financial is now under pressure after President Donald Trump announced he would cut off trade with Spain. The political spat, sparked by Spain’s refusal to allow U.S. military use of...
California Trial Set in Rate-Rigging VRDO Case Against Banks
A California judge set a June 8 trial for a False Claims Act case accusing major Wall Street banks of conspiring to rig interest rates on variable‑rate demand bonds (VRDOs). The lawsuit, filed by municipal advisor Johan Rosenberg on behalf of...
Backpack Teams Up with Superstate to Offer On-Chain IPO Access
Backpack, a centralized exchange and wallet app founded by former FTX and Alameda staff, announced a partnership with tokenization platform Superstate to provide early, on‑chain access to initial public offerings. The service will initially run on the Solana blockchain, allowing...
Fireside Chat with dMY Squared Technology Chairman, Horizon Quantum CEO & CFO, Mar 9 at 1:15PM ET
IPO Edge will host a 45‑minute fireside chat on March 9 featuring dMY Squared Technology Chairman Harry You and Horizon Quantum CEO Dr. Joe Fitzsimons. The session will detail the recently completed business combination that makes Horizon Quantum the first publicly...
Selling Your Business Can Accelerate Its Growth
Selling your business may be the best way to help it grow. Hear what Smita Bakshi, co-founder of zyBooks, has to say on the matter: https://lnkd.in/efcrW6dN #mergersandacquisitions #startupexits #investmentbanking #saasfounders #software #saas #tech #founders #pathtoexit
Learn From the Suits: Master Bigger Financial Games
There are so many financial games being played that we don't even know exist. There's a scene in Batman where they take over the trading floor and one of the traders says "there's no money here that you can steal" Bane replies...
Return of the (Space) SPAC
Former investment banker Raphael Roettgen revived a space‑focused SPAC in early 2026 after a four‑year hiatus, raising about $230 million in trust to seek a merger with a space‑related company. The new vehicle, Space Asset Acquisition Corp., reflects a broader revival...
AI Poised to Upend Software, Jeopardizing Private Equity
The Extinction of Private Equity? My latest memo on the potential of AI to disrupt the software industry and its effect on private equity: https://t.co/GMi44JG2PQ https://t.co/oZYyMnfppx
Royal Cup Coffee and Tea to Acquire Farmer Bros. For $89.62 Million in Cash
Royal Cup Coffee and Tea announced a cash acquisition of Farmer Bros. Co. for $89.62 million, paying $1.29 per share—a 13.42% discount to the prior close. The transaction values Farmer Bros. at roughly 16.66 times EBITDA. The deal, advised by North...
JLL Arranges $37M Financing for Ambiente
JLL Hotels & Hospitality Group arranged a $37 million non‑recourse refinancing for Ambiente, a 40‑room adults‑only luxury landscape hotel in Sedona, Arizona. The deal, executed through a debt fund, includes a sizable cash‑out component that recapitalizes the property to fund ongoing...
PE‑
Major narrative violation but a private equity-owned SaaS company, financed by *gasp* private credit, is rapidly building out its AI capabilities. https://t.co/DOGvFQyXdN
Press Release: Global Corporates Bolster FX Risk Management Amidst Trade Uncertainty
Global corporates are intensifying foreign‑exchange risk management as trade volatility spikes. A new Treasury Today survey shows 88% now hedge FX, with 61% of previously unhedged firms contemplating hedging. Despite a 67% surge in hedging costs, activity has risen and...
Press Release: SkySelect Raises $9m to Fix Aviation’s $11bn Supply Chain Crisis with AI Procurement
SkySelect announced a $9 million funding round to scale its AI‑powered aviation procurement platform, aiming to alleviate the $11 billion supply‑chain crisis highlighted by IATA. Airlines spend $60 billion annually on parts, yet manual processes generate $50 billion in excess inventory and grounding delays....
Leveraged Loan Insight & Analysis – 3/2/2026
U.S. sponsored loan issuance reached $148.7 bn YTD through February 2026, a 26% decline compared with the same period last year. Refinancing activity accounted for $82.3 bn, or 55% of total volume, while new money contributed $66.4 bn (45%). The slowdown reflects tighter...
Hunter Point CEO: Japan’s Emerging GP Landscape Ripe for Future Stakes Deals
Hunter Point CEO Avi Kalichstein told Private Equity International that Japan’s general‑partner (GP) ecosystem, though still nascent, is gaining momentum. He highlighted a growing talent pipeline and an increasing appetite for partnership among Japanese firms. Kalichstein believes these dynamics will...
Jefferies Faces Scrutiny over MFS, First Brands Exposure
Jefferies Financial Group disclosed a £100 million exposure to the collapsed UK lender Market Financial Solutions, prompting a 9% plunge in its shares that later stabilized but fell an additional 2%. The bank also faces lawsuits over a $715 million receivable tied...
Side Letter: Europe’s Exit Intervention
Private equity markets in Europe are confronting a slowdown in exits, raising concerns that policymakers could step in to support liquidity. In the United Kingdom, large distribution‑capital firms are increasingly deploying capital directly, altering the structure of private‑market investing. Meanwhile,...
USL’s Forward Madison Seeks Investors as League Shifts Model
Forward Madison FC, a USL League One franchise, has hired Greenwich Advisory to explore an equity raise targeting private equity, family offices and strategic partners. The club, which averages over 4,000 fans in a 5,000‑seat stadium, is running break‑even to...
Build a Business That Sells Without You
In this episode of M&A Talk, host Jacob Oros interviews serial entrepreneur Travis Jameson, who has founded and exited a dozen businesses across tech, e‑commerce, SaaS, and health products. Jameson shares his core lesson for building a sellable company: make...
Information on the Total Number of Voting Rights and Shares of 74Software Share Capital as of February 28, 2026
74Software disclosed its capital structure as of February 28, 2026, reporting 29,746,194 total shares and 41,275,436 theoretical voting rights, of which 40,787,088 are exercisable. The figures are provided under French Commercial Code Articles L.233‑8 II and R.225‑73 I and AMF regulations for threshold‑crossing disclosures....
Director/PDMR Shareholding
Shell plc disclosed that Andrew Smith, President of Trading and Supply, received a conditional award of 11,269 ordinary shares under the Shell Share Plan 2023. The award, valued at €404,895, was priced at €35.93 per share and recorded on 2 March 2026....
Aqua Bio Technology ASA: Share Capital Increase Registered
Aqua Bio Technology ASA announced that its NOK 10 million share‑capital increase, approved at the extraordinary general meeting on 16 February 2026, has been formally registered with the Norwegian Register of Business Enterprises. The company’s total share capital now stands at NOK 26,139,675, divided...
Floatel International Ltd: Presentation at the DNB Energy & Shipping Conference
Floatel International Ltd announced that CEO Peter Jacobsson will present at the DNB Energy & Shipping Conference on March 4, 2026. The Norwegian‑based firm operates four semi‑submersible offshore accommodation vessels with capacities ranging from 440 to 560 beds, all equipped...
Guy Carpenter Adds QBE’s Paas as Head of European Capital & Advisory
Guy Carpenter, the global reinsurance broker within Marsh & McLennan, has appointed Al Paas as Head of European Capital & Advisory. Paas will steer the firm’s expansion and deepen its investment‑banking capabilities across Continental Europe. He brings over 30 years of...
How Back Leverage Is Revolutionizing European Real Estate Debt Markets
In this episode Stuart Watson talks with Reed Smith partner Josh Hughes and Knight Frank associate Jess Qureshi about back leverage – the practice of borrowing to fund existing debt – and its rapid rise in European real‑estate finance. They...
M&A Activism: What to Expect in 2026
M&A‑focused activist campaigns surged in late 2025 and are projected to intensify throughout 2026. Activists are zeroing in on cash‑rich small‑ and mid‑cap public companies, especially those overlooked by the AI boom but with solid fundamentals. They are increasingly partnering...
Big Battery Deals Dominate as Investors Buy, Sell, Finance and Contract Australian Energy Storage
In Q4 2025, battery energy storage systems dominated Australian renewable investment activity, featuring in 16 financing, M&A and offtake deals and representing 2.16 GW of transaction volume. Solar projects contributed 675 MW, with 90 % of that capacity in hybrid configurations. New South Wales...
Q&M Dental Set to Acquire a Singapore Dental Group
Q&M Dental Group announced a non‑binding MOU to acquire 100% of an unnamed Singapore dental chain. The transaction will be funded through a mix of cash and newly issued ordinary shares, and includes a profit guarantee of up to S$34 million...
DBS China Captures 38% of Panda Bond Market in 2025; Secures Principal Underwriting License
DBS China participated in 65.8 billion yuan of Panda‑bond issuances in 2025, capturing a 38% share of the China Interbank Bond Market. The bank also received a principal underwriting licence for non‑financial corporate bonds, the most extensive authority granted by the...
Guest Post: Will Allowing Companies to Block Shareholder Suits Create a D&O Mess?
In September 2025 the SEC overturned decades‑old guidance and now allows public companies to include forced arbitration clauses in their IPO registration statements. The change is expected to drive up legal expenses for securities claims, as firms will face dozens...
Structural-Protections,-Prime-Mortgages-and-Residential-ABS
In a recent SCI interview, Adam Rizkalla of Canyon Partners highlighted how structural protections are reshaping the residential ABS market, especially for prime mortgage pools. He explained that enhanced tranche designs and over‑collateralisation are reducing investor risk while preserving yield....
How Nvidia Turned a Steal of a Deal Into Its Secret Weapon
Nvidia leveraged its 2020 $7 billion acquisition of Mellanox to transform its networking business into a major growth engine. In the most recent fiscal quarter the company reported $11 billion in networking revenue, a 263 % increase year‑over‑year, positioning it as the world’s...
Skilled Nursing Dealbook: Welltower-Affiliated Nursing Homes Sell for $82.4M; Multi-State Deal Secures $51.2M in Financing
Hill Valley Healthcare purchased two Virginia skilled‑nursing facilities from a Welltower affiliate for $82.4 million, marking the REIT’s exit from assets originally bought for under $15 million each. Capital Funding Group closed a $51.2 million bridge‑loan to acquire four multi‑state SNFs with 487...
Brookfield Asset Management Announces $1 Billion Commercial Paper Program
Brookfield Asset Management announced a new private‑placement commercial paper program with a $1 billion ceiling. The unsecured notes will be issued on a short‑term basis to diversify the firm’s funding mix and bolster its balance sheet. Proceeds are slated for general...
Ares CEO Says UBS Call on 15% Private Debt Default ‘Absolutely Wrong’
Ares Management CEO Mike Arougheti dismissed UBS analysts' worst‑case projection that private‑credit defaults could hit 15%, labeling it irresponsible. UBS warned the scenario could materialize if artificial‑intelligence disruption spikes borrower distress, but otherwise expects defaults to rise about 5% before...
Company Sells OpCo, Returns 90% Proceeds, Exceeds Market Cap
Sale followed by a large capital return - Co selling its entire OpCo while returning 90% of the proceeds to shareholders - Distributions alone exceed the co's current mcap - Plus you get a RemainCo with meaningful net cash and a small growth...
Software Buyout Lending Shows Near‑zero Default
No wonder direct lending to software buyouts was so popular. Out of 300+ loans that Blue Owl has made since inception, only one has defaulted. That one loan was to finance Vista Equity's $3.5 billion buyout of Pluralsight in 2021. Blue Owl...
JLL Secures $36M Acquisition Financing for Chicago Industrial Portfolio
JLL arranged $35.6 million in acquisition financing for a 411,781‑square‑foot Chicago infill industrial seed portfolio comprising four shallow‑bay assets. The financing backs a newly formed joint venture between Matterhorn Venture Partners and TPG Angelo Gordon U.S. Real Estate, which has pledged...
MSRB Reform Bill Would Reverse Dodd-Frank Majority Public Mandate
Senator John Kennedy introduced the Municipal Securities Rulemaking Board Reform Act of 2026, aiming to shift the MSRB’s governance to a majority of regulated representatives and tighten SEC oversight. The proposal would replace the current Dodd‑Frank‑mandated public‑representative majority with a...