Today's Private Equity Pulse
Blackstone closes $13.1B Asia fund, its biggest ever
Blackstone announced the closing of its third Asia private‑equity vehicle, Blackstone Capital Partners Asia III, at $13.1 billion, surpassing its $10 billion target and more than doubling the capital of its predecessor. The fund is the firm’s largest Asia‑focused raise and Blackstone has deployed over $7 billion across 12 deals in the region in the past two years.
Also developing:
By the numbers: Metatron Private Equity acquires Green Circuits Inc.
Blue Owl Preps Debut Credit Secondaries Fund
Blue Owl Capital is preparing to launch its first fund dedicated to buying secondhand private credit assets, targeting discounted stakes from investors seeking liquidity. The private‑credit secondaries market has nearly doubled, reaching about $20 billion in 2025 versus $11 billion in 2024. Blue Owl joins peers such as Ares, Pantheon and Blackstone that are already active in the space. The move follows a redemption cap earlier this year and a 14% rise in fee‑related earnings to $393.6 million, with AUM now $315 billion.
Potential 65% Gain on CCRN After Failed Buyout
Absolute banger pitch from Long Cast on $CCRN 65% return if you timed the entry right after the previous buyout fell through. Stock being bought at $13.25/share. Previous offer was $19/share. Room for an overbid? Maybe.
‘War Effect’ Complicating Defense Deal Valuations, Says Houlihan Lokey; EQT’s Third Offer for Intertek Rejected
Private equity firm EQT's third attempt to acquire Intertek, the global testing and certification provider, was turned down by the board, ending a series of increasingly aggressive bids. Houlihan Lokey warned that ongoing wars, particularly in Europe, are adding valuation...
Bikaji Promoter Deepak Agarwal’s Family Office Buys 35% Stake in Bengaluru’s The Filter Coffee
Deepak Agarwal’s family office, the promoter of Bikaji Foods, has acquired a 35% stake in Wishvish Foods Pvt Ltd, the parent company of Bengaluru‑based coffee chain The Filter Coffee. The deal is being funded in tranches, with up to ₹100 crore...
BMG- Concord Merger Forms $14 Billion Music Giant, Fourth Largest Globally
BMG and Concord announced a merger that creates a $14 billion entity, the fourth‑largest music company worldwide behind Universal, Sony and Warner. The new BMG will unite catalogs spanning more than 4.3 million recordings and expand global reach for artists and songwriters.
Amazon Prime Video Merges with MX Player to Create India's Largest Streaming Platform
Amazon announced that its Prime Video service will absorb MX Player in India, forming a single platform that blends subscription, ad‑supported and transactional video. The move brings together roughly 20 million paying Prime members and about 300 million monthly MX Player users,...
Alfar Capital Partners with Couverture Montreal‑Nord to Consolidate Eastern Canada Re‑roofing Market
Alfar Capital, a Montreal‑based private‑equity fund, has entered a strategic partnership with Couverture Montreal‑Nord to accelerate growth and consolidate the fragmented re‑roofing sector across Eastern Canada. The deal keeps Couverture’s management in place while targeting a roll‑up of best‑in‑class contractors,...
ECI Group and ApexOne Launch $500 Million Multifamily Fund Targeting Sunbelt and Midwest
ECI Group and ApexOne Investment Partners announced a joint venture to raise a $500 million multifamily fund, co‑investing over $100 million and securing up to $350 million from Neuberger Berman’s Almanac Realty Investors. The fund will focus on existing Sunbelt, Midwest and Mountain...
SoundHound’s Stock Falls as Acquisitions Weigh on Earnings Results
SoundHound AI reported Q1 revenue of $44.2 million, up 52% year‑over‑year and ahead of the $42.6 million consensus, but posted an adjusted loss of 6 cents per share, missing the 4‑cent expectation. The earnings miss sent the stock down 12% in after‑hours trading....
Freo Secures Full Ownership of IndiaLends, Targeting 50 Million Users in India
Freo announced it has taken 100% ownership of IndiaLends, pending regulatory clearance, to combine its consumer‑finance platform with IndiaLends' loan marketplace. The deal positions Freo to serve more than 50 million users and marks a major step in India's fintech consolidation.
FTI Consulting Appoints Anand Raghuraman as Senior Managing Director to Drive Americas Growth
FTI Consulting announced the appointment of Anand Raghuraman as Senior Managing Director, tasking him with leading the firm’s Americas practice and expanding its private‑equity and consumer‑goods advisory services. The move underscores FTI’s strategic push into high‑growth retail and consumer sectors...
SAP to Acquire Dremio, Boosting Open Lakehouse Capabilities for Enterprise AI
SAP agreed to acquire Dremio, adding its open‑source lakehouse technology to the SAP Business Data Cloud and HANA Cloud portfolio. The deal, pending regulatory approval, is slated to close in the third quarter of 2026 and is positioned as a...
Adyen Posts Solid Q1 2026 Results, Announces Talon.One Acquisition as Shares Slip 0.9%
Adyen posted solid first‑quarter earnings and confirmed a deal to buy promotion‑engine Talon.One. The Dutch payments group’s shares fell 0.91% to €948.90 ($1,025) in early trading, reflecting a cautious market reaction despite the upbeat update.
FastSpring Lands Strategic Investment From LLR Partners to Fuel Global Commerce Push
FastSpring, the merchant‑of‑record SaaS platform, secured a strategic investment from private‑equity firm LLR Partners, with existing backer Accel‑KKR staying on board. The capital will back product development, go‑to‑market expansion and broader global commerce initiatives, underscoring rising demand for integrated payment...
Dauch Corp (DCH) Q1 2026 Earnings Call Transcript
Dauch Corporation finalized the $4.2 billion acquisition of Dauch Group plc, GKN Automotive and GKN Powder Metallurgy in February 2026, rebranding from American Axle & Manufacturing Holdings. The combined entity posted flat Q4 sales of $1.38 billion and a full‑year 2025 GAAP...
How Private Equity Is Using M&A Integrations to Overcome Headwinds
Private equity firms are turning to accelerated M&A integration strategies to counteract market headwinds such as inflation, supply‑chain disruptions, and tighter credit conditions. By deploying dedicated integration teams, digital platforms, and data‑driven due diligence, they aim to unlock cost synergies...
Job-Swaps-Weekly:-Lazard-to-Acquire-Campbell-Lutyens
Lazard announced it will acquire Campbell Lutyens, a leading private‑credit advisory firm specializing in secondary market transactions and fund placements. The deal, valued at an undisclosed amount, aims to broaden Lazard's footprint in structured private credit and asset‑backed finance. Integration...
Mining Alpha with Michael Gentile – Junior Miners Repriced as M&A Sets New Gold Benchmarks
Two landmark acquisitions have reset pricing benchmarks for junior gold miners. G Mining Ventures acquired G2 Goldfields for roughly $600 per ounce, while Agnico Eagle purchased Rupert Resources at $500‑600 per ounce, each representing about a 70% premium to current...
Valuations Climb Across Midmarket Deals Despite Slower Activity
Middle‑market deal multiples rose sharply over the trailing twelve months, with median EV/EBITDA climbing to 9.2× from 8.4× a year earlier, according to TagniFi’s PowerComps data. Larger transactions saw the biggest jumps—deals between $200 million and $500 million reached 11.4×, while the...
Heads of BMG, Concord Talk Major Indie Merger: ‘We Have a Very Clear Vision’
BMG and Concord announced a merger that would create the largest independent recorded‑music and publishing company since Universal’s acquisition of EMI in 2011. CEOs Thomas Coesfeld and Bob Valentine, who took the helm of their respective firms on the same...
JD Sports Quietly Closed 61 Hibbett Stores Last Year. Another 175 Are on the Chopping Block
JD Sports said it shut 61 under‑performing Hibbett stores in fiscal 2026, recording a £28 million ($36 million) impairment, while opening 44 new locations. The company plans to close another 175 Hibbett stores in North America over the next three years as...
The Pennant Group Seeks Deals Amid Amedisys-UnitedHealth Group Asset Integration
The Pennant Group completed a $146.5 million acquisition of 54 hospice and home‑health sites across Tennessee, Alabama and Georgia, previously owned by Amedisys and UnitedHealth Group. Integration is proceeding in a five‑wave plan, with two waves already transitioned and the remaining...
Firmament‑Backed BP Environmental Services Completes CMS Logistics and GEAC Acquisitions
BP Environmental Services, a tech‑enabled waste and jobsite solutions provider backed by Firmament and Expedition Capital Partners, announced the completion of its acquisitions of Commercial Management Systems (CMS Logistics) and General Equipment Acceptance Corporation (GEAC). The deals broaden BP’s asset‑light...
Israeli Consortium Offers $4.5B Cash Bid for ZIM, Challenging Hapag-Lloyd Deal
An Israeli investor group headed by Haim Sakal has lodged a $4.5 billion cash offer for ZIM Integrated Shipping Services, topping the pending Hapag‑Lloyd‑FIMI merger by $300 million. The proposal includes a $250 million employee bonus and a pledge to keep ZIM’s 145‑vessel...
JPMorgan-Led Bank Group Braces for $500 Million Loss on Qualtrics Debt Restructuring
A consortium headed by JPMorgan Chase expects to absorb more than $500 million in paper losses on Qualtrics International’s high‑yield debt restructuring. The banks will use their balance sheets to finance a $5.3 billion acquisition of Press Ganey Forsta, creating the largest hung‑deal in...
UPMC to Acquire Trinity Health System, Expanding Into Ohio Valley
University of Pittsburgh Medical Center has signed a definitive agreement to buy Trinity Health System from CommonSpirit Health, a deal slated to close in fall 2026. The transaction adds four Ohio hospitals and roughly 200,000 patients to UPMC’s portfolio, deepening...
Adobe Completes Semrush Acquisition, Expands AI Search Suite
Adobe announced the completion of its acquisition of Semrush, integrating the SEO platform into its Experience Cloud. The move gives Adobe AI‑powered search and brand‑visibility tools as marketers grapple with a surge in AI‑driven traffic, which Adobe says rose 269%...
Payward to Acquire Reap for Up to $600 Million, Expanding Global B2B Payments Stack
Payward announced a definitive agreement to buy Reap Technologies for up to $600 million in cash and stock, valuing Payward at $20 billion. The deal adds a stablecoin‑native card and payments layer to Payward's B2B infrastructure, positioning the combined firm to capture...
Pharmaceutical Executive Daily: Angelini Pharma Acquires Catalyst Pharmaceuticals in $4.1 Billion Agreement
Angelini Pharma announced a definitive agreement to acquire Catalyst Pharmaceuticals for $31.50 per share in cash, representing a 21% premium to the unaffected closing price and a total equity value of roughly $4.1 billion. The transaction gives Angelini its first direct...
The World Surf League Has Silently Sold Its Stake in the Kelly Slater Surf Ranch
The World Surf League has quietly divested its majority stake in Kelly Slater’s Surf Ranch, the iconic wave pool in central California. Sources confirm the transaction, with former WSL president Kaniela Neves acknowledging the sale, though the buyer remains largely...
The State of PE-Backed Orthopedic MSOs
Private‑equity‑backed orthopedic management services organizations (MSOs) entered a boom between 2017‑2022, leveraging near‑zero interest rates and the shift of joint replacements to ambulatory surgery centers (ASCs) to acquire practices at 6‑10× EBITDA and target 12‑14× exit multiples. Rising interest rates,...
Top 3 SPAC Targets – Enterprise AI Managers
After a lull, SPAC activity is resurging, targeting firms that embed AI and large‑language models into enterprise workflows. The column highlights three private AI‑management companies—Mintlify, TrueFoundry, and Together AI—as prime SPAC candidates. Mintlify recently closed a $45 million Series B, TrueFoundry raised...
Siris to Reap 3x Return on Equiniti in Sale to Bullish, Sources Say
Siris is set to sell its Equiniti business to Bullish, a deal that Siris expects will generate roughly a three‑times return on its original investment. The transaction underscores Siris’s belief that demand for tokenized US dollars will naturally extend to...
Suntera’s Von Bevern on the ‘Speed’ Advantage of Private Credit
Michael Von Berven, Global Head of Funds at Suntera Global, explains that private credit’s chief advantage is speed, allowing high‑growth companies to secure capital faster than traditional banks. The sector offers senior term loans, mezzanine and subordinated debt that preserve ownership,...
KKR: High‑margin Compounder Trading at Fire‑sale Valuation
$KKR is a compounder at a fire sale price - AUM tripled since '19, on track to $1T+ by '30 - $5B+ in mgmt fees at 70% margins - Private credit fears overblown, direct lending is just 5% of AUM - Insiders bought $50M...
Investment Group Acquires 530-MW Gas-Fired Power Plant in Texas
Strategic Partners (SVP) announced it has taken a majority equity position in New Frontera Holdings, which owns a 530‑MW natural‑gas combined‑cycle plant in Mission, Texas, and a day later signed an agreement to acquire the remaining equity in the 485‑MW...
Carlyle and Diversified Energy to Acquire Andarko Basin Oil Assets From Camino for $1.2bn
Carlyle Group and Diversified Energy have agreed to purchase Camino's Andarko Basin oil assets for $1.2 billion. The transaction adds roughly 100 undeveloped inventory locations in a prolific development zone, bringing Diversified's Oklahoma footprint to more than 450 sites. The deal...
AI Deal Week: Private Takeovers, SpaceX Compute, Claude Code
LIVE at 12p PT/3p ET on a big deal week for AI @alextaubman and @generalcatalyst Madhu Namburi on Long Lake’s take-private of Amex GBT, latest deal in the AI roll-up craze that's now hitting Wall St Anthropic's @bcherny and @_catwu on the...
Diversified Energy, Carlyle Partner in $1.175-billion Acquisition in Oklahoma's Anadarko Basin
Diversified Energy and private‑equity firm Carlyle have agreed to buy a portfolio of oil and natural‑gas assets in Oklahoma’s Anadarko basin for $1.175 billion. The deal adds roughly 300 MMcfed of production—about 51,000 boe/d—for the next year and includes 101,000 acres of SCOOP/STACK/MERGE...
Semi-Liquids’ Valuation Conundrum
The requested article titled “Semi‑liquids’ valuation conundrum” was not provided in full, so the specific details, metrics, and commentary from Apollo CEO Marc Rowan cannot be extracted. Without the body text, a precise executive summary cannot be generated.
Arcus Takes 74% Stake in TrueNoord, Expanding Regional Aviation Leasing Platform
Arcus Infrastructure Partners has purchased a 74% controlling stake in TrueNoord, a specialist regional aircraft leasing firm. The deal brings long‑term infrastructure capital to a niche market that is attracting institutional investors seeking stable, connectivity‑driven revenue.
CoTec and Copper Intelligence Ink JV to Turn DRC Copper Tailings Into Marketable Concentrate
CoTec Holdings and Copper Intelligence have signed a non‑binding term sheet to create a joint venture that will process historic copper tailings in the Democratic Republic of Congo. The partnership aims to unlock the economic value of legacy deposits and...
Reformat Proven Products, Unlock Billion‑Dollar Valuations
Chad Janis just sold his gummy company Gruns to Unilever for $1.2B. His thesis is taking a tried and true concept, and packaging it in a new format. Example: Greens powder works, but it's a frothy mess on your countertop. So Chad turned...
J.M. Smucker Hires Goldman Sachs, May Divest Hostess
Axios Pro scoop from @Ryanbarwick: JM Smucker hired Goldman Sachs to launch a review of its portfolio. Hostess to hit the block? $SJM https://t.co/bTz1wCRTv8
Blackstone Invests €2 Billion in Eurowind Energy: Billion-Euro Partnership Accelerates Expansion of Renewable Energy Projects
Blackstone is injecting roughly $2.2 billion into Danish developer Eurowind Energy to accelerate wind‑energy projects across Europe, with a focus on Germany. Eurowind currently has over 300 MW under construction and a 4.6 GW development pipeline in the country. The capital will fund...
WSL Attracts Buyers Amid Olympic Boost and Digital Growth
Exclusive: The World Surf League could change hands. The WSL says it's seen "a significant amount of inbound interest." Talks are still early & could include smaller investments too. Olympic inclusion + digital media have given the sport new energy. https://t.co/rs5fUObUtC
World Surf League Tests Investment Waters for Possible Sale
World Surf League (WSL) is actively seeking new investment and may consider a sale after receiving significant inbound interest. The league, celebrating its 50th season, has seen audience growth, with a recent Gold Coast event drawing over 50,000 attendees and...
Masa's Arm Stake Yields $172B Gain, Eclipsing
Masa took Arm private for $32B in 2016. Went pubic again in 2024 and market cap is now $234B. He owns 87%, which is around $204B. So, Masa is now up $172B on Arm, which is more than 10x the amount...
Software Multiple Compression Cuts NAV, Trading Remains Strong
HgT NAV down 5.4% as software multiple compression hits valuations, but underlying trading holds up Read the full report here: https://t.co/cImjwA0IPm https://t.co/5ACIO1hRHX
Apis Partners Closes $1.23bn Fund III
Apis Partners announced the final close of its Apis Global Growth Fund III and Apis Growth Markets Fund III, together raising $1.23 billion in commitments, more than double the $563 million raised for Fund II. The combined fund will take meaningful minority...