Are PE’s Best Days Ahead of It? Here’s What CPPIB and Warburg Pincus Think
Canadian pension fund CPPIB and Warburg Pincus both signal optimism for private equity returns despite recent market turbulence. CPPIB projects improving internal rates of return as deal flow stabilizes, while Warburg Pincus highlights emerging fee‑restructuring trends that could ease limited partner‑general partner tensions. Both firms cite stronger capital commitments and a maturing secondary market as catalysts for future performance. The commentary underscores a shift toward greater alignment and transparency in the PE ecosystem.
Side Letter: Here Be Zombies
Zombie‑style private‑equity funds are projected to manage roughly $1 trillion in net asset value by 2030, reflecting a surge in aging, ill‑liquid portfolios. The article outlines how managers must adjust to a “new era” where exits are scarce and capital recycling...
China’s Biopharma Advance Draws Financial Investment
Chinese biotech firms are moving beyond licensing deals as capital markets open, highlighted by a 64% rise in the Hang Seng Biotech Index in 2025. Reforms to listing rules since 2018 have unlocked public financing, enabling a record $138 billion in...
Press Release: Finastra Teams up with CargoX to Further Adoption of Digital-at-Source Electronic Trade Documentation
Fintech leader Finastra announced a strategic partnership with blockchain document‑transfer platform CargoX to embed electronic trade documents (eTD) into its Trade Innovation solution. The integration, delivered via Finastra's open API and Trade Innovation Nexus, supports over 65 eTD types and...
Private Equity Still Vital to CalPERS’ Strategy Under TPA: CEO
At NEXUS 2026, CalPERS CEO Marcie Frost announced that the pension fund’s revitalized private‑equity program will operate with a degree of independence from its newly adopted total‑portfolio approach (TPA). The move signals a renewed commitment to private‑equity as a core return...
Rise of the Machines: The Data Science Unit TDR Says Gives It an Edge
TDR’s dedicated data‑science unit, launched ten years ago, now embeds machine‑learning models across the firm’s value‑creation workflow. The team builds predictive analytics to source acquisition targets, streamline due‑diligence, and monitor portfolio performance. By automating data aggregation and applying advanced algorithms,...
Oppenheimer Hires Former Stern Brothers Managing Director Vien Le
Oppenheimer has added former Stern Brothers managing director Vien Le to its public finance investment‑banking group in Los Angeles. Le brings more than two decades of municipal finance experience, having advised the Los Angeles Department of Water and Power, the state...
OQ Technology Secures $30 Million From Europe for Satellite-to-Smartphone Expansion
Europe’s Investment Bank is providing €25 million (≈$30 million) to Luxembourg‑based OQ Technology to expand its direct‑to‑device satellite constellation. The debt will fund the launch of more than 20 small satellites, including OQ’s first C‑band satellite aimed at smartphone connectivity slated for...
Press Release: Uber to Acquire Parking App SpotHero
Uber announced it will acquire SpotHero, the leading North American parking‑reservation platform, to embed parking services directly within the Uber app. SpotHero currently offers access to more than 13,000 garages, lots and valet locations across over 400 U.S. and Canadian...
The EBA and ESMA Launch a Consultation on the Revised Suitability Assessment Framework for Banks and Investment Firms
The European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) have opened a consultation on revised joint Guidelines for assessing the suitability of management body members and key function holders at large banks and investment firms. The initiative,...
OYO’s Parent PRISM Appoints Former SEBI Chairman Ajay Tyagi as Independent Director
PRISM, the holding company behind OYO, has named former SEBI chairman Ajay Tyagi as an independent director. Tyagi brings extensive regulatory experience from his 2017‑2022 tenure at SEBI and prior senior roles in the Ministry of Finance. PRISM operates more than...
Sustainable Debt Issuance Slows as Markets Position for 2026 Rebound
Sustainable debt issuance slipped 12% year‑on‑year to about $1.4 trillion in 2025, marking the slowest growth in five years, even as clean‑energy investment hit a record $2.3 trillion. Research from ING expects a modest rebound to roughly $1.62 trillion in 2026, with Europe...
How LB Rode the Brutal Capital Markets to One of 2025’s Most Successful IPOs
LB Pharma went public in September 2024, pricing its shares at $15 and raising $285 million despite a severely constrained capital market. The IPO followed a Phase 2 trial that showed LB‑102 markedly reduced schizophrenia symptoms, sparking investor demand even as venture...
Debtwire Middle-Market – 2/23/2026
Sponsor‑backed merger and acquisition activity surged to $165 billion in December 2025, marking the second‑largest monthly volume in the past decade, just shy of the $168 billion peak recorded in April 2021. Data from Mergermarket shows that leveraged buyouts and other sponsor‑driven deals now...
Covenant Trends – 2/23/2026
Covenant Review released its latest quarterly snapshot of new‑issue institutional loans that include a pick‑your‑poison covenant provision. The accompanying chart tracks the share of such loans by quarter, showing a clear upward trajectory over the past two years. The data...
Octus: Private Credit & Deal Origination Insights – 2/23/2026
The 2026 outlook for Americas private credit is dominated by the mass maturity of loans originated in 2021, pushing the asset class into the mainstream. Refinancing activity surged in 2025, with a 29% jump in deals that now represent 28%...
KBRA Direct Lending Deals: News & Analysis – 2/23/2026
KBRA released its latest TTM Direct Lending Default Index on February 23, 2026, showing a year‑to‑date default rate of 2.8%, up from 2.4% in the prior quarter. The index recorded 150 cumulative defaults across the direct‑lending universe, while the weighted average spread...
Paramount Welcomes WBD Talks, Details New Elements Of Sweetened $31-A-Share Offer
Paramount has sweetened its bid for Warner Bros. Discovery, raising the cash offer to $31 per share and adding several protective clauses. The revised terms include an accelerated quarterly ticking fee, a $7 billion regulatory termination fee, and a commitment to...
What’s Next for Ukraine: Investment
Ukraine will emerge from the war burdened with massive debt, but experts Yuriy Gorodnichenko and Maurice Obstfeld argue that restructuring—potentially including outright forgiveness—is essential to attract private capital. They estimate a $40 billion annual investment gap, split between rebuilding destroyed assets,...
Federal Signal Corp (FSS) Q4 2025 Earnings Call Transcript
Federal Signal reported a record $555 million in net sales for Q3 2025, up 17% year‑over‑year, driven by strong organic growth in both its Environmental Solutions and Safety & Security groups. Adjusted EBITDA margin expanded to 20.9%, a 130‑basis‑point improvement, while GAAP...
Huddly AS – Private Placement Successfully Placed
Huddly AS announced that its private placement was fully subscribed, issuing 3,750,000 shares at NOK 20 each and raising NOK 75 million in gross proceeds. The net proceeds will be used to repay a NOK 30.75 million shareholder loan and to bridge the company’s cash‑flow...
Panoro Energy ASA - Announcement of Fixed Income Investor Meetings
Panoro Energy ASA announced a series of fixed‑income investor meetings, appointing Arctic Securities and DNB Carnegie as joint bookrunners and SB1 Markets as co‑manager. The company is considering a $150 million tap issuance of its senior secured bond, pending market conditions...
Panoro Energy ASA - Contemplated USD 49 Million Private Placement to Finance Transformational Acquisition
Panoro Energy ASA announced a private placement of up to NOK 467 million (approximately USD 49 million) to help fund the acquisition of Kosmos International Petroleum’s 40.375% non‑operated interest in Block G offshore Equatorial Guinea. The offering consists of two tranches – a fully...
BAM Hires Philip Moos to Join Its Muni Capital Markets Team
BAM Mutual announced the hiring of Philip Moos, a 30‑year municipal sales veteran from Wells Fargo, to bolster its municipal capital markets team. Moos will report to Bryan Baebler and focus on expanding BAM’s secondary‑market insurance business with institutional investors. The insurer currently...
Eagle Energy Metals and Spring Valley Acquisition Corp. II Announce Closing of Business Combination
Eagle Energy Metals Corp. completed its business combination with Spring Valley Acquisition Corp. II, creating Eagle Nuclear Energy Corp. The new company will begin Nasdaq trading on February 25, 2026 under the ticker symbols NUCL and NUCLW. The merger pairs the largest...
CalPERS Wants Its GPs to Do Better on Transparency
CalPERS, the $613.7 billion California public‑employees pension, announced it will require its private‑equity general partners to provide far greater transparency on portfolio‑company data. CEO Marcie Frost said enhanced visibility will sharpen risk management and fulfill fiduciary responsibilities. The fund plans to...
Spirit Airlines Is Betting on This Air-Travel Trend as It Prepares to Emerge From Bankruptcy
Spirit Airlines announced a deal with creditors that will allow it to exit Chapter 11 bankruptcy by late spring or early summer 2026. The restructuring will shrink the carrier’s balance sheet, cutting debt from $7.4 billion to about $2.1 billion, and will trim...
NEXUS Panelists: Lack of Exits, Compressed PE Returns Complicating LP-GP Dynamics
At the NEXUS 2026 conference, private‑equity executives highlighted that a slowdown in exits and tighter returns are straining the traditional LP‑GP relationship. Mike Lazorik of Texas TRS warned that alignment “has never been more complicated” as limited partners push for...
The Evolving Nature of Direct Secondaries Valuations
Direct secondaries are emerging as a leading exit strategy for private‑equity portfolios, prompting a reassessment of how these assets are valued. Subu Parmeswaran of Valuation Research Corporation highlights that traditional static models no longer capture the nuanced risk‑adjusted returns of these...
SEC Revises IPO Float Rules to Revive Listings
The Philippine Securities and Exchange Commission issued Memorandum Circular No. 11, Series of 2026, revising public‑ownership requirements for IPOs. The new tiered framework reduces the minimum float to 33 percent for firms under P500 million and as low as 15 percent for companies above P50 billion, with a...
Bain’s MacArthur: 401(k) Opportunity Is ‘Major Inflection Point’ for Alternatives
Chair of Bain’s global private equity practice, Hugh MacArthur, says the growing ability for 401(k) participants to invest in private equity marks a major inflection point for the alternatives industry. He argues that retail access will set a new performance...
Meridiam Seals €2.2bn for Fund Extending Exposure to Long-Hold European Infra Assets
Meridiam has closed its latest infrastructure fund with €2.2 billion of commitments, extending its exposure to long‑hold European assets. The capital raise reached final close this week, adding to the firm’s growing pool of long‑term infrastructure capital. The new vehicle will...
GIC Emerges as Lead Buyer on Meridiam’s €2bn+ CV
GIC has emerged as the lead buyer for Meridiam’s continuation vehicle (CV) valued at over €2 billion. The CV aggregates a portfolio of 22 infrastructure assets currently held in Meridiam’s legacy funds. By acquiring the majority stake, GIC positions itself at...
Govt to Divest up to 4% Stake in IRFC via OFS Starting Wednesday, Sets Floor Price at Rs 104 per...
The Ministry of Railways has launched an offer‑for‑sale (OFS) to off‑load up to 4 % of Indian Railway Finance Corporation (IRFC) equity, equivalent to 26.13 crore shares, with a green‑shoe option for an additional equal tranche. The floor price is fixed at...
Wall St Muted After Anthropic Announces New AI Tools
Anthropic announced ten new AI plug‑in tools aimed at investment‑banking, private‑equity, engineering and design workflows. The rollout follows recent AI releases that sparked a sell‑off in traditional software stocks. Wall Street’s major indexes barely moved on the news, with the...
Brookfield-Backed Rockpoint Gas Storage Closes C$459 Million Secondary Offering
Brookfield-backed Rockpoint Gas Storage completed a secondary offering, selling 16.4 million shares at C$28 per share. The transaction generated approximately C$459 million in gross proceeds, including shares issued under an over‑allotment option. The capital raise bolsters the company’s balance sheet and funds...
Exclusive: IPO-Bound Infra.Market To Raise ₹1,250 Cr Debt Funding
Infra.Market, the Indian B2B construction‑materials platform, is raising ₹1,250 crore (≈$137 million) in debt from Singapore‑based Ascertis Credit. The loan will be secured by the company’s assets, promoter shares and stakes in its subsidiaries such as RDC Concrete and Neptune Readymix. Proceeds...
Oklahoma Supreme Court to Rule on Utilities' Winter Storm Bonds
The Oklahoma Supreme Court is set to rule on $1.45 billion of winter‑storm bonds issued by Oklahoma Gas & Electric and Public Service Company of Oklahoma. Republican lawmakers allege the Oklahoma Corporation Commission violated state audit and ethics rules when authorizing...
Capital Constellation Forms Strategic Partnership with Gallatin Point Capital
Capital Constellation announced a strategic partnership with Gallatin Point Capital to co‑invest in lower‑middle‑market companies across North America. The alliance combines Capital Constellation’s deep sector expertise with Gallatin Point’s operational platform and capital resources. Both firms will jointly source, evaluate,...
Retired Vice Admiral William Hilarides Finds Calling as PE Backs Defense Industry
Retired Vice Admiral William Hilarides has taken a senior role at Ventus Industrial, a private‑equity‑backed firm targeting the defense industrial base. He says his mission is to accelerate shipbuilding capacity and help portfolio companies produce at the pace the Navy...
Malatsi Throws Weight Behind Dell’s EEIP Application
Communications Minister Solly Malatsi has recommended approval of Dell Technologies' Equity Equivalent Investment Programme (EEIP) renewal, extending the commitment for another ten years and pledging over R230 million into South Africa. The EEIP framework allows multinationals to meet B‑BEE targets through...
Permissibility Is the Real Prize for Banks in Crypto Bill
The U.S. market‑structure bill’s permissibility section would formally allow banks and their holding companies to own and transact in digital assets, effectively expanding the range of activities deemed permissible under the National Bank Act. Critics argue that simply placing an...
Buffers for Greater China, US Exposures ‘More than Adequate’ as Bad-Debt Formation Slows in Q4: UOB
UOB's CFO Leong Yung Chee said the bank's provisions for commercial‑real‑estate exposures in Greater China and the United States are more than adequate as bad‑debt formation slowed in Q4 2025. Problematic US CRE loans represent about 1% of the local...
Water Infra in Vogue as Ambienta’s NDA Makes Add-On; Hg Seeks AI Adoption at Portcos via New Initiative
Water infrastructure is emerging as a hot‑spot for private‑equity investment, driven by stable cash flows and climate‑related demand. Ambienta has signed a non‑disclosure agreement to pursue an add‑on acquisition in the sector, signaling confidence in further consolidation. Meanwhile, Hg announced...
RedotPay Weighs US IPO that Could Raise $1B at over $4B Valuation: Report
Hong Kong‑based stablecoin payments firm RedotPay is exploring a U.S. IPO that could raise more than $1 billion and value the company at over $4 billion. The offering would be underwritten by JPMorgan Chase, Goldman Sachs and Jefferies, with a potential New York...
Jamie Dimon on the Loan Rush: 'I See a Couple of People Doing some Dumb Things'
JPMorgan CEO Jamie Dimon warned that today’s aggressive loan‑making resembles the pre‑2008 buildup that led to the financial crisis. He said some rivals are taking “dumb” actions to inflate net interest income, while JPMorgan remains disciplined even if it means...
Boom Times for Muni Bonds
State and local governments issued a record $498 billion in municipal bonds in 2024 and topped $580 billion in 2025, driven primarily by infrastructure, education, and transportation projects. The surge reflects a shift from waning federal pandemic aid to local financing for...
India Aims to Raise $19.7 Billion From IPOs of State-Run Firms by 2030
India plans to raise 1.79 trillion rupees (about $19.7 billion) by selling stakes in state‑run firms through IPOs by the 2029/30 fiscal year. The effort is part of a broader $183.7 billion asset‑monetisation drive announced by NITI Aayog, following an earlier phase that fell...
Dearth of Opportunities Stirs Investor Interest in Sicilian and Copenhagen Airport Privatisations
Investor interest is reviving after a dearth of new airport privatisations in Europe. Potential deals are emerging for Sicily’s Catania airport, targeting a logistics hub, and Denmark’s Copenhagen Airport, which may welcome private investors again after a period of renationalisation....
SFA and Bloomberg Collaborate on Credit Securities Index
The Structured Finance Association (SFA) and Bloomberg Index Services are co‑creating a new credit securities index that spans multiple asset classes. Designed to deliver consistent, transparent performance and risk metrics, the index will be embedded directly into Bloomberg Terminal workflows...