Today's Private Equity Pulse
Blackstone launches its biggest Asia private‑equity fund at $13.1 billion
Blackstone announced the closing of a $13.1 billion fund, its largest ever dedicated to Asian private‑equity investments. The fund aims to back buyouts and growth‑capital deals across the region, underscoring Blackstone’s expanding focus on Asia’s mid‑market opportunities.
Also developing:
By the numbers: Toms Capital acquires significant stake in McCormick
Vernal Capital Acquisition Corp. (VECA.U) Prices $100M IPO
Vernal Capital Acquisition Corp. (VECA.U) priced a $100 million IPO and will begin trading on the NYSE on May 6, 2026. The SPAC, led by CEO Du Jun and CFO Yi Binghan, plans a generalist search for private companies in Asia with strong economics. The offering closes on May 7, adding to a year‑to‑date total of 81 SPAC deals in 2026. D. Boral Capital serves as sole book‑running manager, with a team of legal and audit advisers supporting the transaction.
NHI May Sell More Nursing Home Assets, Open to Offers Above Operating Partner’s $560M Pending Deal
National Health Investors (NHI) is accelerating its exit from skilled nursing facilities, highlighted by a pending $560 million sale of 32 nursing homes and three independent‑living sites to operator National HealthCare Corp. The REIT is also open to higher written offers...
Private Equity Has Its Eyes On Biglaw’s Second Hundred Firms
Bob Maiden, an M&A adviser at Focus Investment Banking, predicts that private equity will make its first investment in a Biglaw "Second Hundred" firm—those ranked 101‑200—by calendar year 2026. He notes that these firms have smaller cap tables and active...
TPG: AI Shift From Defensive to Offensive Play Is ‘Positive Weapon’ for PE
Private equity giant TPG says the industry’s AI approach is shifting from a defensive cost‑control mindset to an offensive growth engine, calling the change a “positive weapon.” The firm highlighted that its software‑focused investments are holding up, with the overall...
Avista Healthcare Partners Launches Birchwell Platform, Acquires Iconic Bag Balm
Avista Healthcare Partners announced the creation of Birchwell Consumer Health, its newest U.S. roll‑up platform, and closed its first acquisition – the 125‑year‑old Bag Balm skincare brand. The move underscores Avista’s aggressive platform‑building strategy in the fast‑growing over‑the‑counter market.
Blackstone to Invest Up to $2.34 B for 24.7% Stake in Eurowind Energy
Blackstone Infrastructure has signed a definitive agreement to invest up to €2 bn ($2.34 bn) for a 24.7% ownership stake in Denmark‑based Eurowind Energy. The deal, backed by top-tier advisors, gives the private‑equity giant a sizable minority position as Eurowind scales its...
UST Acquires SAP Silver Partner Taciti to Boost Digital Transformation Services
UST announced the acquisition of Taciti Consulting, a boutique SAP Silver Partner with more than 240 employees, to deepen its SAP S/4HANA and Business Technology Platform expertise. The deal expands UST’s reach in high‑complexity sectors such as semiconductors, manufacturing and...
GameStop CEO Says 5% eBay Stake Is Mostly Derivatives, Fueling $56 B Takeover Bid
GameStop chief executive Ryan Cohen told CNBC that the retailer’s newly disclosed 5% stake in eBay is comprised primarily of stock options and other derivatives. The disclosure underscores a high‑stakes strategy to bridge a $44 billion valuation gap as GameStop pursues...
Apollo Global Management Raises $6.5 B for Hybrid Value Fund III
Apollo Global Management announced the final close of its Hybrid Value Fund III, securing roughly $6.5 billion from a global pool of institutional investors. The fund expands Apollo’s hybrid platform that bridges credit and private‑equity, a segment that has seen heightened...
Lattice Semiconductor's $1.65 B AMI Deal Hits Earnings Call, Shares React
Lattice Semiconductor disclosed a $1.65 billion acquisition of firmware specialist AMI in its Q1 2026 earnings call, citing immediate gross‑margin accretion. The deal, split $1 billion in cash and $650 million in stock, is positioned to deepen Lattice’s AI and cloud infrastructure footprint.
SpaceX’s $60 B Cursor Deal Sparks NASA Artemis Concerns
SpaceX announced a $60 billion acquisition of AI‑code startup Cursor, a sum that dwarfs NASA’s annual budget and coincides with delays to its Starship rocket. Experts warn the deal could distract the firm from delivering the Human Landing System for Artemis...
What Amazon’s Globalstar Acquisition Means for MSS Spectrum and D2D Market: Analyst Roundtable
Amazon agreed to buy Globalstar for roughly $10.8 billion, securing the satellite operator’s mobile‑satellite‑services (MSS) spectrum licenses and an active network. The deal includes a continuation of Apple’s satellite service partnership, giving Amazon immediate access to millions of iPhone users. By...
Greybull Expands Operating Bench with CFO
Greybull Capital, the London‑based private‑equity firm, appointed Jane Smith as an operating chief financial officer to serve all of its portfolio companies. Smith brings fifteen years of turnaround finance experience in Europe and the United States. The role will standardize...
What Does the TikTok Sale Mean for Advertisers?
On January 22, 2026 TikTok USDS Joint Venture LLC—backed by Oracle, Silver Lake and MGX—acquired majority control of TikTok’s U.S. operations, while ByteDance retained a 20% stake. The platform’s ad infrastructure, auction mechanics and creator ecosystem remain active for its...
How AmSurg Went From Bankruptcy to a $3.9B Ascension Deal
AmSurg, once the nation’s largest ambulatory surgery center (ASC) operator, survived a cascade of ownership changes, a leveraged‑buyout by KKR and Envision’s 2023 Chapter 11 filing. After splitting from Envision and rebuilding its platform under new creditor Pacific Investment Management, the...
Gamestop CEO's Unsolicited Bid for eBay Looks DOA
GameStop founder Ryan Cohen has lodged an unsolicited $56 billion offer to acquire eBay, prompting the marketplace’s board to schedule a review this week. Cohen’s recent CNBC interview, aimed at his retail‑investor base, failed to explain the deal’s economics and left...
Long Path Partners Takes Idox Private in $431 Million Deal
Long Path Partners closed a £339.5 million ($431 million) acquisition of UK specialist software provider Idox plc, offering 71.5 pence per share – a 26.8% premium to the pre‑announcement price. The deal expands Long Path’s technology portfolio and signals deeper private‑equity interest in...
Oliver Wyman to Acquire Restructuring Specialist CR3 Partners, Adding 62 Experts
Oliver Wyman, a Marsh business, agreed to acquire Dallas‑based turnaround firm CR3 Partners. The deal, closing later this quarter, will bring 62 CR3 staff into Oliver Wyman and deepen its restructuring, liquidity‑management and crisis‑response services.
Apollo Sells Out of ADT, Ending Nearly Decade-Long Investment
Apollo Global Management is exiting its nearly decade‑long stake in ADT, selling its remaining 102 million shares in a secondary offering valued up to $770 million. ADT will repurchase about 29 million of those shares through its $1.5 billion buyback program, receiving no cash...
Loomis to Acquire Hermes Transportes Blindados for $440M, Entering Peru
Loomis AB announced a tender‑offer acquisition of Hermes Transportes Blindados valued at roughly SEK 4 billion ($440 million). The deal, financed by a bridge loan, will give Loomis a foothold in Peru’s security‑logistics sector and is expected to be immediately accretive to earnings.
Will New York Magazine Be Once Again Owned By a Murdoch?
James Murdoch, fresh from a $1.1 billion settlement that freed him from the family News Corp and Fox holdings, is reportedly negotiating with Vox Media to purchase New York magazine and its podcast division. The deal, cited by the Wall Street Journal,...
Cambridge Savings Bank Expands Into NH in $80.9M Deal
Cambridge Savings Bank announced an $80.9 million cash acquisition of First Seacoast Bank, adding five branches and its first presence in New Hampshire. The deal, slated to close in Q3 2026, brings roughly $600 million in assets, $489 million in deposits and $416 million in...
Virtus Minerals Advances Chemaf Takeover in DRC with Key Regulatory Review
Virtus Minerals is advancing its $30 million acquisition of Chemaf’s copper‑cobalt assets in the Democratic Republic of Congo, entering a critical regulatory review with the DRC Mining Registry. The review will verify mining rights, contracts and legacy debt of roughly $900 million,...
Pearl Abyss Sells CCP Back to Its CEO for Less than Half What It Paid, Plus $20 Million in Crypto
Wizards of the Coast and its parent Hasbro missed the May 1 deadline to voluntarily recognize a union formed by Magic: The Gathering Arena developers. The UWOTC‑CWA union filed a petition in April and, after a May 4 open letter, highlighted concerns...
Massive $84T Wealth Transfer: Buy Profitable Businesses Now
Entrepreneurs: $84 trillion in wealth is being transferred as we speak. $5 trillion from small businesses alone. Acquire existing profitable businesses 🙏🏾
KKR Marks 50 Years, Says Investing Was Simpler
KKR at 50: ‘It used to be easy in the old days’ https://t.co/E3dXNSIsfP via @ft
Copley to Sell LJB, Sources Say; KKR Made ‘Targeted Acquisitions’ to Scale Axius Water Before Sale to CRH
Copley Equity Partners has launched an early‑stage sale process for LJB, a civil, structural, geospatial engineering and environmental services firm. At the same time, KKR and XPV Water Partners are preparing to divest Axius Water, which they expanded through targeted...
Endowments Boost Private Market Allocation by 22.4%
Over the past 20 years, large endowments have upped their VC/PE/PC allocation by 22.4 percentage points Mainly at the expense of public equity and fixed income... via @neubergerberman https://t.co/hR6yaFPBn7
Top Private‑market Secondaries Now Command Premium over Primaries
A wild dynamic in private markets right now: For top businesses, secondaries are trading at a premium to primary rounds Historically, secondaries were common shares, which traded at a 10%-20% discount But it's completely flipped for top businesses that people want to own
Who Really Benefits when Private Equity Buys Your Financial Adviser?
UK financial‑advice firms are moving from a frenzy of private‑equity buyouts aimed at scale to a more deliberate phase focused on vertical integration and data‑driven control. The 2026 NextWealth report shows 72% of recent deals involve private equity, but the...
Private Equity Giants Partner with Google for AI Tools
Blackstone, KKR, and EQT in talks with Google over AI tooling for portfolio companies Read more here: https://t.co/kBOzvs0ZcO https://t.co/31e5K6WnEg
UMB Financial Reaffirms M&A Plans; Blue Owl Declines Offer
In Play Today: UMB Financial $UMBF reiterates future M&A requirements; Blue Owl rejects buyout offer | S&P Global Market Intelligence https://t.co/qDTqHhJTSr
William Blair to Acquire Inner Circle Sports
William Blair, the Chicago‑based middle‑market investment bank, announced it will acquire Inner Circle Sports, a boutique advisory firm focused on professional sports franchise transactions. The acquisition is intended to broaden Blair’s industry coverage and tap into the expanding sports finance...
Half‑stock, Half‑cash Acquisition Offer
“So, is this 1/2 stock and 1/2 cash acquisition offer in the room with us right now?” https://t.co/H1JATPZDZp
James Murdoch Seeks to Buy New York Magazine
Rupert once owned New York magazine, now estranged son James Murdoch is in talks to buy it, according to @Jtoonkel https://t.co/6IopKH2Akp via @WSJ
Performance Improvement Partners Acquires AlphaAdvisors to Boost AI for PE Value Creation
Performance Improvement Partners (PIP) announced the acquisition of AlphaAdvisors, a leading AI and data advisory firm, to broaden its AI‑driven services for middle‑market private‑equity clients. The deal adds specialized expertise and a global delivery footprint, positioning PIP to embed AI...
IREN's Mirantis Acquisition Could Lift Its Benchmark Rating
Definitely have to see the $IREN acquisition of Mirantis as a way to move them up the @SemiAnalysis_ benchmark list. Time will tell, but I'm sure this will move them from not-recommended. WIth all neoclouds' ability to leverage software for...
Viper Energy Adds $8 B in Mineral Assets, Triples Permian Acreage in Q4 2025
Viper Energy disclosed more than $8 billion of mineral acquisitions during its Q4 2025 earnings call, expanding Permian Basin acreage nearly 2.5‑times. The deal coincided with a 15% dividend hike, a $1 billion boost to share‑repurchase authority and a reduction of net...
Lattice to Buy AMI for $1.65B, Targeting $200M 2026 Revenue
News: @latticesemi announced its agreement to acquire @ami_bios, aka American Megatrands, for $1.65b ($1b cash, $650m stock). AMI is expected to revenue $200m in 2026. Official PR: https://t.co/UUXittYx9j The whole Megatrends vs Megatrands debacle from @Patrick1Kennedy: https://t.co/n6IiHQsGg0
Cambridge Financial to Acquire First Seacoast for $80.9 Million in a Cash Deal
Cambridge Financial Group announced a cash acquisition of First Seacoast Bancorp for $80.9 million. Shareholders will receive $17.25 per share, representing a 46.9% premium over the prior close. The transaction values First Seacoast at 0.97 times tangible book value and adds roughly...
SEC Secures $1.5 Million Penalty as Elon Musk Settles Twitter‑Buyout Disclosure Lawsuit
The U.S. Securities and Exchange Commission and Elon Musk reached a settlement in which Musk’s revocable trust will pay a $1.5 million civil penalty for failing to timely disclose his 5% stake in Twitter before the $44 billion leveraged buyout. The deal...
Global Net Lease to Acquire Modiv Industrial in $535 Million All‑Stock Deal
Global Net Lease (GNL) agreed to acquire Modiv Industrial (MDV) in an all‑stock transaction valued at roughly $535 million. The merger, structured as a 1.975‑to‑1 share exchange, is expected to be immediately accretive to GNL's AFFO per share.
Deal Roundup: Long Lake Agrees $6.3bn Amex GBT Take-Private, EQT Boosts Intertek Offer to over £10bn Including Debt
Long Lake Management has agreed to acquire American Express Global Business Travel in a take‑private transaction that values GBT at about $6.3 billion. At the same time, private‑equity firm EQT raised its bid for Intertek to more than £10 billion, roughly $12.8 billion...
CVC Sells Hermes to Loomis for $433M
CVC exits cash logistics specialist Hermes in $433m sale to Loomis Read more here: https://t.co/k0F0CruFmu https://t.co/OdEex5wVol
Amulet Capital Taps Adam Grossman as Partner
Amulet Capital announced the promotion of Adam Grossman to partner. In his new role, Grossman will focus on sourcing, structuring, and collaborating with management teams to build and scale healthcare services platforms. The hire strengthens Amulet’s leadership in the rapidly...
O2 Invests in Atlas Asphalt
O2 Capital announced an investment in Atlas Asphalt, a family‑run paving company led by second‑generation owners Tyler and Jordan Cianciulli. The deal, whose financial terms were not disclosed, provides fresh capital to support Atlas's growth initiatives. O2’s involvement signals confidence...
KKR Profits Rise on Growing Assets, Deals Pick up Pace in First Quarter
KKR reported a surge in first‑quarter earnings as fee revenue rose 30% to $1.2 billion, driving adjusted net income to $1.2 billion or $1.39 per share. The firm attracted $28 billion of fresh capital, primarily into its credit platform, which anchors its $758 billion...
THL Partners Picks up $6.35bn at Final Close of Tenth Flagship Fundraise
THL Partners announced the final close of its tenth flagship private‑equity fund, securing $6.35 billion in commitments. The new vehicle is 13% larger than the 2021 predecessor, underscoring the firm’s growing fundraising momentum. THL plans to deploy the capital across its...
THL Partners to Sell AMI to Lattice Semiconductor for $1.65bn
THL Partners announced the sale of its semiconductor design firm AMI to Lattice Semiconductor for a cash consideration of $1.65 billion. The transaction, subject to customary closing conditions, is slated to finalize in the third quarter of 2026. AMI brings a...
PEI’s Data Dive: Reading the Signals in Secondaries Sentiment
Private Equity International’s latest podcast episode dissects the inaugural Global Market Survey from Secondaries Investor, revealing fresh sentiment across the secondary market. The data shows a 15% year‑over‑year rise in transaction volume, driven largely by distressed‑asset opportunities. Sellers are demanding...