Know What's Happening in Private Equity
Know What's Happening in Private Equity
Lead Edge Capital launches AI‑driven secondary market fund
Lead Edge Capital announced the launch of its seventh flagship fund, targeting secondary market investments across fund‑level and direct‑secondaries. The new vehicle will use artificial‑intelligence analytics to enhance deal sourcing, pricing accuracy, and risk assessment.
Oak Hill Advisors predicts 2026 will be a robust year for distressed‑credit investments, citing a surge in corporate debt maturities and lingering macro‑economic headwinds. Partners Joseph Goldschmid and Christopher Kenny say the firm is actively sourcing high‑yield, non‑investment‑grade opportunities as market dislocations deepen. They highlight a growing pipeline of deals across leveraged buyouts, restructurings, and distressed sovereign exposures. The firm expects its fundraising efforts to surpass $2 billion, positioning it to capitalize on the expanding special‑situations market.
Kartesia Asset Finance’s Fabrice Fraikin argues that private‑credit‑backed asset‑backed finance (ABF) is entering a rapid expansion phase in 2026. He highlights that while capital inflows are surging, the sector’s success hinges on meticulous underwriting and granular data analysis. Fraikin warns...
Polus Capital Management has purchased a 26.54 percent stake in Arqiva from Macquarie, becoming the company’s largest external shareholder. Polus, which manages roughly $14 billion in assets, highlighted Arqiva’s role in the UK’s national communications backbone and its stable, sustainable growth trajectory....
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The Delaware Court of Chancery refused to dismiss a claim that Jefferies, the financial advisor to Forum III, aided and abetted fiduciary breaches in a de‑SPAC merger. The court applied the Dole factors, inferring that Jefferies knowingly participated by preparing...
InfraVia Capital Partners and LD Armateurs argue that specialised maritime services are increasingly attractive to investors. The sector’s capital intensity, long‑term contracted revenues, and built‑in inflation linkage provide stable cash flows. Downside protection mechanisms further improve risk‑adjusted returns. Executives Aymar...
Fengate’s transport team, led by Darcy Wilson, argues that despite fierce competition for infrastructure assets, North America remains a fertile ground for long‑term investments. The firm points to a robust pipeline of highways, railways, and ports backed by supportive policy...
Pantheon’s Amyn Hassanally and Charlotte Morris argue that continuation vehicles are increasingly appealing to sponsors targeting small and mid‑cap companies. As more investors explore this structure, the pool of opportunities in the lower‑mid market deepens. The firm highlights that smaller...
QIC partner Zach Jackson stresses that secondary buyers must fully underwrite both the sponsor and the underlying asset when assessing continuation vehicle (CV) opportunities. The firm adopts a no‑compromise stance, insisting on comprehensive due diligence rather than relying on surface...
StepStone Group executives Adam Johnston and Ted Black argue that continuation vehicles (CVs) continue to be a preferred exit option for private equity firms. They cite CVs’ ability to consistently outperform the broader buyout market as the primary driver. Even...
UBS reports a surge in secondary market activity, with general partners and limited partners bringing larger trophy assets and full portfolios to market. Deal sizes and transaction volumes have expanded markedly, reflecting deepening investor appetite for secondary exposure. Thomas Roche...
Kirkland & Ellis partners observe that GP‑led continuation vehicles have become increasingly standardized within the secondary market. Yet negotiations still reveal tension as secondary buyers apply M&A‑style rigor while sellers favor more flexible terms. The firm highlights the growing importance...
TPG GP Solutions co‑managing partners Matt Jones and Michael Woolhouse say firms with deep sector expertise and direct underwriting are reshaping the single‑asset continuation vehicle (CV) market. They argue that specialist managers can price assets more accurately and execute faster...
Bernhard Capital Partners’ Jeff Jenkins highlights that regulated utilities are becoming a fertile source for mid‑market carve‑outs as the sector seeks capital for grid upgrades. Stable, predictable cash flows and strong credit profiles make these assets attractive to private‑equity firms...
Permira’s co‑CEO Dipan Patel says the firm will double‑down on specialization and performance in the next private‑equity cycle. The firm plans to simplify its mission, focusing on a narrower set of sectors where it can add deep expertise. By tightening...
Will Marder of Wilmington Trust examines how the past year reshaped capital flows toward the energy transition. He notes a marked acceleration in renewable and grid‑modernization investments, driven by policy support and heightened ESG focus. The firm anticipates continued diversification...
Churchill Asset Management’s head of secondaries, Nick Lawler, said secondaries technology is evolving into a multi‑faceted tool for both general partners and limited partners. The latest platforms combine real‑time data, automated pricing models and machine‑learning analytics to improve liquidity and...
Hellman & Friedman CEO Patrick Healy says that even as distributions to limited partners remain sluggish, the firm can still close sizable sponsor exits. Healy highlights that strategic timing and asset positioning enable multi‑billion‑dollar exits despite a broader market slowdown....
Ridgewood Infrastructure’s Sam Lissner highlights the lower mid‑market as a hotbed for value creation and flexible exit options. Investors are gravitating toward deals that sit below the traditional mid‑market threshold, seeking higher returns with manageable risk. Lissner notes that the...
Private Debt Investor (PDI) has published its 2025 Annual Review, featuring the PDI Annual Awards that recognize standout firms across fundraising, investing, advisory, and legal sectors. The edition includes expert analysis from industry leaders, offering deep insight into a turbulent...
Nuveen Private Markets executives Laura Parrott and Jessica Bailey outlined how the firm is structuring Asset‑Backed Financing (ABF) deals to satisfy growing limited‑partner demand for private‑credit exposure. They highlighted the importance of predictable cash flows, tranche‑level risk allocation, and ESG...
Ardian has been named the 2025 Secondaries Buyer of the Year for the EMEA region by Secondaries Investor. The award recognizes Ardian’s aggressive acquisition strategy and strong execution across private‑equity secondary transactions. The accolade was announced alongside the broader Secondaries...
Asset‑based finance (ABF) ties loans to tangible collateral, delivering higher yields while limiting downside risk, which appeals to a broad investor base. John Wright, partner and global head of credit at Bain Capital, says the firm is expanding its ABF...
The LBO debt market is freaking out. Here comes a $20B test of nerves https://t.co/MiXTnEB2pK
The one number that unlocks business acquisition finance: DSCR — Debt Service Coverage Ratio Formula: EBITDA ÷ Annual Debt Repayments Lenders want ≥ 1.5x What this means: For every $1 you owe the bank, the business earns $1.50. Find a business with $500K EBITDA? You can service...
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Healthcare M&A activity moderated in 2025, dropping to 898 transactions after a pandemic‑driven surge. Despite fewer deals, the median transaction value jumped to $151 million, the highest in 25 years, while EV/EBITDA multiples held steady near 12.5×. Public‑market returns diverged, with...
What retiring business owners actually want: • To know their staff will be looked after • To feel proud of who they sell to • A clean exit with no complications • Someone who "gets" their industry • Monthly payments that feel like a pension Notice...
“Welcome to my special report on how to borrow from #businessbrokers... By the end of this report, you’ll learn how you can negotiate a loan from a lender that many others have never considered.” –Borrow from Biz Brokers (2017) https://t.co/l2EObkfURN...
InsideArbitrage’s March 2026 Special Situations newsletter warns of a continuing "Software Nuclear Winter" in the SaaS sector, describing deep valuation pressure and market disruption. The firm recently acquired SaaS company Navan (NAVN) and highlights another discounted SaaS opportunity, suggesting the...
Gah such a great take. I don’t invest in large SaaS plays, but on the micro end, especially for bootstrapped founders, it’s still a fantastic place to build.
A great one-page overview detailing the KKR founders’ initial capital contributions and the investors they raised from to finance their first leveraged buyouts. https://t.co/JQxW7mzQhZ
Continuation funds are new private‑equity vehicles that let general partners transfer one or more portfolio companies into a separate fund, extending the holding period beyond the typical ten‑year life. They give limited partners a choice to cash out or roll...
"You need money to buy a business." False. What you actually need: • A credible board (free to recruit) • A seller motivated to exit • A structure they say yes to • 1,000 cold calls worth of persistence Capital is the last variable. Not the first.
. @Travis_Jamison is sharing his story of doing 10 acquisitions in cash-flow-positive, profitable lower middle market businesses, with some deals projected to have an IRR of 25% or more. The best part: he is only getting started. These last 10 deals...
Paramount Skydance Corp. announced a $110 billion agreement to acquire Warner Bros. Discovery, offering $31 per share—a 10.05% premium. The transaction is financed by $47 billion in equity backed by the Ellison family and RedBird Capital, plus $54 billion of new debt from...
Castlelake’s aviation leasing arm has fully repaid a $595 million aircraft‑backed security, marking the first complete repayment of an operating‑lease aircraft ABS since the COVID‑19 pandemic. The Castlelake Aircraft Securitization Trust 2021‑1, comprising 26 passenger jets, one freighter and 11 lessees across...
Morningstar’s new research shows that liquidity, not performance, is the primary obstacle for private‑equity and credit products in 401(k) plans. Simulations using real participant data reveal that even modest redemption flows can exhaust liquidity buffers, forcing managers to allocate up...
Sverica announced that Michael Dougherty has been elevated to partner, while Doug Patrican has been promoted to principal. The firm also welcomed Matt Johnson as a new principal. These moves expand the firm’s senior leadership team across its core practice...
Private debt markets have been struggling for some time. These are nonbank lenders, largely in the private equity space, although they do rely upon bank credit. This is one of many fragilities in the financial market and the economy more...
.@ShenLucinda argues that Stripe isn't a logical buyer for PayPal. But JPMorgan may be. https://t.co/5mg3m05s44
The HVS Europe Hotel Transactions Bulletin for the week ending 20 February 2026 lists a series of high‑profile hotel deals across the continent. Indian conglomerate SanRaj, via Clearsense Ventures, bought three Accor‑branded hotels in the UK (478 rooms) from Ares and EQ....
Remarkable that a company raises largest private round ever, while in the midst of being sued by a cofounder who also happens to be the world' richest man.
I take @sama point on circular dealmaking concerns -- that the revenue growth is key metric. And will leave profit concerns for another day. But also true that these companies are becoming something of a borg. If one goes down, it's...
Hollow Brook president Philip Richter tells Private Equity International that private equity has become far more accessible due to democratization and a booming secondary market. This broader access enables family offices to consider PE as a core component of their...
"Most commercial banks will lend against machines & equipment... Do you know what the bank won’t finance? Goodwill… the intangible value of the fact that you’ve built up a great clientele" –12 Things to Do Before You Consider Selling Your...
The NEXUS conference highlighted a tightening deal pipeline at Goldman Sachs, dubbed the “Goldman handful,” as the firm scales back mid‑market transactions. Speakers warned that a wave of “zombie” companies—firms surviving on low‑interest debt—could strain private‑equity exits. Market participants noted...
Woven Solutions, a Reston‑based software provider for the national security community, announced the acquisition of Valence, a government consultancy. The deal is backed by private‑equity firm Falfurrias Capital Partners, which has been fueling Woven's expansion. Valence brings deep advisory expertise...
