Know What's Happening in Private Equity
Know What's Happening in Private Equity
Sunway bids $2.7B cash‑and‑share offer for IJM
Sunway Group lodged an RM11 billion (~US$2.7 billion) cash‑and‑share proposal to acquire builder IJM, valuing each IJM share at RM3.15 (~US$0.68). The offer comprises 10% cash and the remainder in newly issued Sunway shares, but the Employees Provident Fund and Permodalan Nasional Berhad—holding about 33% of IJM—have rejected the bid.
Eliot Kerlin, founder of Broadwing Capital, discussed the evolving lower‑middle‑market private‑equity landscape, highlighting larger fund sizes, higher purchase multiples, and greater equity contributions. He noted the rise of operational private equity, independent sponsors and family‑office capital, and the need for early operational alignment. Broadwing’s strategy targets skilled‑trade, manufacturing and service businesses, balancing organic growth with acquisitions. The firm’s recent purchase of CloudScale 365 exemplifies its focus on AI‑enabled operational tools and founder alignment.
BNP Paribas Asset Management’s alternatives arm closed its inaugural GP‑stakes vehicle at €540 million, surpassing early fundraising targets. The fund will acquire minority interests in European private‑equity general partners, giving investors exposure to fee‑related earnings without direct deal‑by‑deal risk. Backed by...
West Anderson Partners has completed the acquisition of the Graduate by Hilton Storrs, a 100‑room lifestyle hotel situated on the University of Connecticut campus. The property serves university visitors, alumni, athletic teams, and hosts campus events, positioning it as a...
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CVC has arranged a €3.7 billion financing package for its Global Sport Group, valuing the platform at about €7 billion. The deal combines €1.4 billion from KKR—partly via Global Atlantic—and €1.5 billion of debt from Pimco, with KKR eligible for up to €200 million of...
The March 10, 2026 SPAC Insider roundup offers a curated snapshot of today’s special‑purpose acquisition company landscape, bundling headline stories, Intel‑related updates, and broader market movements. Access to the full content is gated behind a paid monthly subscription, underscoring the platform’s premium...
Amundi has been awarded a €350 million private‑markets mandate, underscoring growing European appetite for alternative assets. At the same time, Asian private‑credit funds are drawing fresh capital as U.S. lenders face tighter conditions. EQT secured a 42% stake in Kelda Holdings,...
In this episode, Peter Rossi, a former McLaren track‑side IT specialist turned private‑equity‑backed CTO, walks through his eclectic career—from Formula 1 to consulting, VC tech‑due‑diligence, building a SaaS ISO‑27001 platform, and leading a portfolio that has acquired 22 companies across four...
Private‑equity investors in India are confronting two major headwinds: a weakening rupee, which has fallen 1.9% against the dollar so far in 2026 after larger declines in the previous two years, and a capital‑gains tax of 10‑15% on exits. While...
Bain Capital closed a $12.5 bn fundraising drive for its Asia and Japan buyout vehicles, completing the effort in roughly seven months. Senior management pledged more than $1 bn of personal capital, underscoring alignment with limited partners. The raise includes a $2 bn...
At NEXUS 2026, Ardian’s senior executive Ava Mallin highlighted that private‑wealth capital is flowing into the private‑equity secondaries market, expanding the pool of funds available for larger transactions. While this influx has increased overall capacity, Mallin warned that the market...
Shell PLC announced the sale of its Jiffy Lube International unit, including the Premium Velocity Auto franchise, to Monomoy Capital Partners for roughly $1.3 billion. The transaction covers more than 2,000 service locations across the U.S. and Canada and represents about 6.5%...
Searchlight Capital’s Euclid fund achieved a $4 billion distribution to its limited partners, defying a generally sluggish private‑equity exit environment. The performance was driven by a series of recent portfolio company sales that leveraged the firm’s revenue‑weighted investment (RWI) methodology. By...
Private equity firm EQT is exploring a potential divestiture of Linux‑software maker SUSE, aiming for a valuation near $6 billion. The firm has retained advisory shop Arma Partners to gauge interest from other private‑equity investors, though the process remains preliminary and...
Ardian announced the acquisition of an Italian self‑storage business, adding it to its pan‑European platform. The deal gives the platform operations in Italy, complementing existing assets in France and the UK. Meanwhile, Bridgepoint’s portfolio company Fera Science, which provides scientific...
Private equity firm Ardian has acquired a majority stake in Casaforte, one of Italy’s leading self‑storage operators. The transaction brings Ardian’s cumulative investment in self‑storage assets across Italy and France to more than €300 million. Casaforte’s portfolio includes over 30 facilities...
Biologos, a life‑sciences manufacturer owned by Ampersand Capital Partners, has named longtime COO Hetal Patel as its new chief executive officer. Patel assumes the role as the firm accelerates investments in manufacturing capacity, including a newly built 32,000‑square‑foot GMP‑compliant facility...
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John Wood Group’s distressed merger arbitration has concluded with the acquisition finalized and a 30 pence per share payout slated within two weeks. The company’s shares were suspended on the FCA’s Official List and the London Stock Exchange, with a formal...
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Raj Shah, head of healthcare at Nordic Capital, argues that Asia is becoming a pivotal arena for healthcare private equity. Demographic pressures, especially aging populations and rising middle‑class incomes, are creating a surge in demand for medical services. Investors, both...
The article presents a valuation framework that derives exit multiples from long‑run growth, ROIC, and discount‑rate assumptions rather than treating them as arbitrary market plugs. Empirical regressions on high‑growth firms show that expected one‑year revenue growth accounts for roughly 55%...
Global Infrastructure Partners and EQT, backed by CalPERS and Qatar Investment Authority, have agreed to acquire AES Corp in an all‑cash deal valuing equity at $10.7 bn and enterprise value around $33.4 bn, offering shareholders $15 per share—a 40.3% premium. Meanwhile, Volkswagen’s...
The acquisition math nobody shows you: Buy at 3–5x earnings Sell at 8–12x earnings 10 businesses × $500K profit = $5M EBITDA $5M EBITDA × 10x = $50M exit Businesses you paid nothing for Funded by the cash flow they already produced This is the game. Learn...
The article stresses that robust restrictive covenants—especially non‑competes—are essential in M&A transactions to safeguard a buyer’s investment. Sellers are typically bound for five years, with clauses covering family affiliates and tailored side‑ventures. Proper drafting, often in a separate agreement, ensures...
Speaking with a former hedge fund manager who started investing in and acquiring profitable lower middle market companies. There is a catch though.. The model often starts with advisory work, where clients are willing to pay substantial fees for judgment alone. There is...
Advent is weighing a roughly $4 billion divestiture of Ultra Maritime, the naval‑defense arm that specializes in anti‑submarine warfare technologies such as sonar, sonobuoys and torpedo countermeasures. The private‑equity firm acquired the business through its purchases of Cobham and Ultra Electronics...
A former New Mountain Capital executive attempted to acquire five of the firm’s portfolio assets, but the bid collapsed after negotiations stalled. The breakdown highlights the growing importance of baseline economics in pricing trophy‑level private‑equity assets. Investors now treat valuation...
Private equity firms are increasingly emphasizing strategic selection over opportunistic buying, dedicating extensive time to identify the right business, market, or operating model before committing capital. This disciplined approach reflects a long‑term view of which industries and company types offer...
Episode 57 of the Special Situations Report podcast discusses four headline stories. Salesforce announced a $50 billion stock buyback, the largest ever for the company. The show also covers a bidding war for Reservoir Media, insider sales at Warner Bros. Discovery, and Elliott...
General partner (GP) stakes have become a sizable asset class, yet investors struggle to find timely exits because traditional secondary markets lack depth. GP‑led continuation vehicles (CVs) are emerging as a structured solution, allowing sponsors to roll assets into a...
Private equity firm EQT is injecting more than €500 million into the launch of WTS UK, a new tax advisory platform designed to challenge the Big Four in Britain. Led by former EY global law head Soar, the firm has already...
The chart released by TheLeadLeft shows private‑equity fundraising trends from 2016 to 2025 across North America, Europe, Asia‑Pacific and the rest of the world. In 2025 the United States emerged as a relative bright spot, posting higher fundraising totals while...
Lessons from 60+ search fund deals and a few guiding principles for a new CEO’s first year at an acquired company (from seasoned search fund investor Tim Ludwig): 1. Do no harm. You (or the investors) bought a good business....
FFL Partners announced the creation of Pioneer HOA, a newly formed holding company designed to house its current and future investments in homeowners association (HOA) property‑management firms. The move consolidates a fragmented portfolio under a single corporate umbrella, simplifying governance...
Irenic Capital Management, a hedge fund known for activist campaigns, is expanding into private equity by hiring former Apollo Global Management principal E‑Fei Wang as managing director and head of private equity. Wang will lead efforts to execute buyouts and...
The request did not include the article text, only a placeholder indicating a pay‑wall prompt. Without the actual content, no details about CPP's interest in more established data centre platforms or the referenced $4 billion acquisition can be extracted.
Blackstone has engaged Citi to explore a sale of ShyaHsin Packaging, targeting a valuation of at least $1 billion. The Taiwanese‑based manufacturer supplies containers and components for colour cosmetics, skincare and fragrance brands, operating factories in China and Mexico. Blackstone bought...
At PEI Group’s NEXUS 2026, private‑equity veterans Ian Charles (Arctos), Theo Epstein (26North), Josh Harris (Clearlake) and José E. Feliciano shared their outlook on sports investing. They highlighted accelerating franchise valuations, the premium placed on media‑rights and data‑analytics assets, and...
H.I.G. Capital disclosed a pipeline of investments targeting industrial‑maintenance specialist Coriant, signaling a strategic push into high‑margin service assets. Private‑equity firms EQT and Ambienta announced separate acquisitions in the water‑treatment sector, expanding their environmental‑services portfolios. Gurpreet Manku, CEO of Level 20,...
KKR is weighing a multibillion‑dollar sale of CoolIT Systems, a data‑centre liquid‑cooling specialist that it bought for roughly $270 million in 2023. The potential transaction could value the company at over $3 billion, reflecting the rapid shift of CoolIT from gaming‑PC cooling...
EQT, the global private‑equity firm, announced a strategic investment in the holding company that owns Yorkshire Water, one of the UK’s largest water and wastewater providers. The capital infusion is aimed at bolstering infrastructure upgrades and supporting long‑term service reliability...
PitchBook’s 2026 Nordic Private Capital Breakdown shows the region’s private capital market outperformed Europe in 2025, with venture capital investment rising 15.6% to €6.5 billion despite a 20% drop in deal count. Median deal size reached a record €2 million and AI‑focused...
RM11B Sunway-IJM Takeover: The Great GLC Standoff The Employees Provident Fund (EPF) and major institutional shareholders are officially in a holding pattern, freezing an RM11 billion power shift as the Independent Advice Circular faces strategic delays. This regulatory bottleneck creates a...
When the Trump administration canned DOJ antitrust chief Gail Slater, we wrote that all eyes should be on the Live Nation/Ticketmaster case -- watching to see if her ouster paved the way for a settlement. Today: Settlement.
Digital Nasional Berhad (DNB), Malaysia's 5G wholesale operator, is set to become a fully private company after CelcomDigi and Maxis each exercised a put option to buy the 41.67% stake held by Minister of Finance Incorporated (MOF Inc). The transaction,...
French pharma group Servier announced a definitive agreement to acquire Nasdaq‑listed Day One Biopharmaceuticals for $2.5 billion, paying $21.50 per share—a 68% premium to the prior close. The cash‑only transaction will be funded from Servier’s reserves and is slated to close...
Calgary-based tech unicorn CoolIT is speculated to be for sale for more than $3 billion. All of this value creation from this Canadian business will go to the U.S. (KKR) and Abu Dhabi (Mubadala). Sadly, this is par for the course for...
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DiligenceSquared announced a $5 million seed round led by Relentless with participation from Y Combinator to scale its AI‑driven commercial due‑diligence platform. The solution combines AI voice agents, automated data synthesis, and interactive, source‑traceable reporting to replace traditional consulting projects that typically...
Stop scrolling if you hold construction equities. Takeover rumors are actively destroying contract values right now. 1. MACC probe costs IJM a data center deal 2. MoF intercepts Sunway takeover of IJM 3. State funds clash over MRCB mega-merger Detailed Breakdown ↓↓↓ #BursaMalaysia #Equities
Major Business News on March 6, 2026: 1. Court of Appeal to rule on RM1.7b pensioners payout 2. Ekovest secures 54-year highway concession 3. Datuk Seri Johari Abdul Ghani nears mandatory offer threshold 4. Datuk Tiong King Sing exits Timberwell at RM12.8 million Source: The...
