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
Mobius Renewables Acquires Air Liquide’s Biogas Assets Across US, France, Norway, Sweden
Mobius Renewables closed a deal to buy Air Liquide’s biogas production assets in the United States, France, Norway and Sweden. The portfolio adds six landfill‑gas RNG sites, five farm‑waste sites and a majority stake in Redo Biosolutions, expanding Mobius’s annual output to over 5.5 million MMBtu of renewable natural gas.
StepStone Alums Launch Advisory Shop to Build Customized Portfolios for Smaller LPs
Former StepStone executives Brey Jones and John McGuinness have launched Thirdpath, an advisory firm that builds customized private equity and private credit portfolios for institutional investors. The boutique targets smaller limited partners seeking tailored exposure rather than standard fund allocations....
Framework, Not Capital, Stops Most Roll‑Up Starts
the roll-up in 5 levels: level 1: buy 1 business level 2: buy 3 competitors level 3: regional dominance level 4: national holdco level 5: significant exit most never start level 1 not from lack of capital from lack of framework
Earnouts: Chancery Allows Narrow Fraud Claim to Continue; Dismisses Breach Claim
The Delaware Chancery Court in Meyers v. Zimmer Biomet Holdings dismissed breach of contract claims tied to an earnout’s commercially reasonable efforts clause and the implied covenant, but let a narrow fraud claim survive. Zimmer’s 2022 acquisition of Embody, Inc....
PE Fuels $1.5B Anth
Macro: PE demand backs Anthropic $1.5B JV with Blackstone & Goldman. Key: $300M anchors, $150M GS; Risks: execution, valuation, regulation. Trade: buy select AI names. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
MBK Partners Mulls $100M Sale of Pierre Marcolini Stake
MBK Partners weighs sale of Pierre Marcolini stake in deal worth up to $100m Read more here: https://t.co/annpmK6tGD https://t.co/spAMTC0Ol4
Knorr-Bremse Completes Travis Acquisition for CVS Push
Knorr‑Bremse has completed its acquisition of Travis Road Services International, adding a digital booking network to its Commercial Vehicle Systems (CVS) Service Platform. Travis links more than 3,500 service partners across 26 European countries, enabling fleets to find, book and...
Escom Acquires Commodore's Assets Post-Bankruptcy, 1995
#ThisDayInTechHistory. May 4, 1995. Commodore Assets the rights to the name, patents, and intellectual property of Commodore Electronics, which had declared bankruptcy in 1994 were purchased out of Bankruptcy by German company Escom AG. https://t.co/xEPGpf8204
Genius Sports Completes $1.5 Bn Acquisition of Legend, the Biggest Sports‑tech Deal This Year
Genius Sports has closed a £1.2 bn ($1.5 bn) acquisition of sports‑tech firm Legend, its largest transaction to date. The deal expands Genius Sports’ data, media and fan‑engagement platform, positioning it as a one‑stop shop for leagues, sportsbooks and broadcasters.
Global M&A Weekly Value Hits $117B as PE Deal‑Making Rebounds Post‑Iran War
The average weekly value of global mergers and acquisitions rose to about $117 billion in the four weeks after March 15, up from $93 billion earlier in the year. Mega‑transactions such as Pershing Square’s $68 billion offer for Universal Music Group and McCormick’s...
Sumitomo to Sell 54% of Madagascar’s Ambatovy Nickel Project, New Investors Loom
Sumitomo Corporation announced it will sell its 54% majority stake in the Ambatovy nickel‑cobalt operation in Madagascar before the fiscal year ending March 2027. The divestment will trigger a $445 million accounting charge and has already attracted a wave of new investors...
Nebius to Acquire Eigen AI, Bolstering Frontier Inference Platform
Nebius, the AI cloud provider, agreed to acquire Eigen AI, a leading inference and model‑optimization firm. The deal integrates Eigen’s optimization stack into Nebius’s Token Factory, enhancing autoscaling endpoints and positioning Nebius for the fast‑growing inference market.
Apollo to Acquire Forvia Interiors for $2.2 Bn in All‑Cash Deal
Apollo Global Management agreed to buy Forvia Interiors, the interior‑systems arm of French supplier Forvia, for $2.2 bn in an all‑cash transaction. The deal, which includes roughly $1.96 bn of debt, highlights the surge in cross‑border private‑equity activity targeting Europe’s automotive sector.
Nice Secures $2.5 B Non‑Binding Bids for Actimize as PE and Strategic Rivals Clash
Nice announced that five bidders have submitted non‑binding offers of roughly $2.5 billion for its Actimize division, the minimum price set by the company. The second‑round field includes three private‑equity firms—Advent International, Veritas Capital and New Mountain Capital—plus Stone Point Capital...
Bakkt Completes $402M Revenue‑Boosting Acquisition of DTR, Issues 11.3M Shares
Bakkt Inc. closed its acquisition of Distributed Technologies Research (DTR) by issuing 11.3 million shares, a move that follows a 27% jump in quarterly revenue to $402.2 million. The deal merges Bakkt’s regulated infrastructure with DTR’s AI‑native payments engine, positioning the firm...
GameStop Poised to Bid for eBay in $46 B Deal, Targeting $100 B Valuation
GameStop Corp is preparing a $46 billion offer for eBay Inc, using a mix of cash, equity and a massive performance‑based stock award to chase a $100 billion market value. The proposal, reported by the Wall Street Journal, would pit a $12 billion...
Emerald Lake Capital Closes $825 Million Mid‑Market Fund, Overshooting Target
Emerald Lake Capital Management announced the final close of its new $825 million mid‑market fund on April 27, 2026, topping its original $500 million goal by $325 million and exceeding the revised $750 million hard cap. The oversubscribed raise signals robust institutional confidence in...
AD Posts 28% Surge in Member Purchases and Adds 74 New Members in Q1 2026
AD announced a 28% increase in member purchases and a net gain of 74 members in the first quarter of 2026, driven by its recent merger with The Commonwealth Group and a wave of acquisitions. The growth underscores the power...
HP Seals $19 Billion Takeover of Compaq, Reshaping PC Industry
#ThisDayInTechHistory. May 3, 2002. @HP completes $19 Billion buyout of Compaq Computer. #Computer #History https://t.co/xZGkwYMZsw
Repay Holdings Corp (RPAY) Q1 2026 Earnings Call Transcript
Repay Holdings reported Q1 2026 revenue of $80.8 million, a modest 4% year‑over‑year increase, while Business Payments surged 18% and adjusted EBITDA reached $34.4 million, delivering a 43% margin. Free cash flow was $5.4 million with a 16% conversion rate, and the vendor...
Verifone Owner in Talks to Buy Payments Firm Moneris
Canadian banks RBC and BMO are in advanced talks with private‑equity firm Francisco Partners to sell Moneris, Canada’s largest merchant payment processor, in a deal valued at more than $2 billion. Moneris handles over 5 billion transactions a year, making it a...
Greene King Selling 150 Pubs over ‘Unprecedented Costs’, Boss Says
Greene King, one of the UK’s largest pub operators, announced it will put up to 150 pubs on the market as part of a broader plan to offload 300 locations, half of which will be converted to leased or tenanted...
Three US Potential Buyers Emerge for Shell’s LNG Canada Stake
Shell is weighing a partial sale of its 40% stake in LNG Canada, with U.S. firms KKR, Apollo Global Management and Blackstone eyeing up to 30% of the holding. The transaction could generate $10‑$15 bn, valuing the full stake between $25 bn...
Titan America Completes Keystone Cement Acquisition, Expanding Mid-Atlantic Footprint
Titan America SA announced the closing of its acquisition of Keystone Cement Holdings and Keystone Cement Company LLC. The deal adds roughly 990,000 short tons per year of clinker capacity and brings more than 125 Keystone employees into Titan’s portfolio,...
GameStop Readies $46 B eBay Bid, Builds Stake Ahead of Potential Takeover
GameStop Corp is preparing an offer to buy eBay Inc, a company valued at roughly $46 billion, after quietly accumulating a share position. The proposal, which could be submitted in May, would pit a $12 billion GameStop against a target four times...
Buy Essentials, Structure Deals, Build Platform, Sell High—Timeless Wealth Formula
the wealth pattern across 200 years of history: buy what people can't avoid structure the deal correctly combine into a platform sell at institutional multiples carnegie did it rockefeller did it buffett does it the pattern is available to anyone who learns it
Learn Acquisition Skills Without Capital: 9 Essential Tools
9 skills that create serious acquisition operators: – cold outreach – deal sourcing – reading P&Ls – seller psychology – structure engineering – negotiation – timeline control – integration – knowing when to walk none require capital all are learnable
The Remarkable Revival of eBay
eBay, the pioneering online auction site, has staged a notable comeback after years of market share erosion. In 2025 its gross merchandise volume rose 18% year‑over‑year, pushing active buyers past 190 million. The turnaround attracted attention from GameStop, which disclosed a...
Retiring Owners Leave Legacy; Operators Inherit for Free
9 million business owners retiring this decade most built something real: – profitable for 20+ years – loyal staff – recurring customers – no succession plan the operators who call first inherit everything they built for nothing out of pocket
Editorial. Costly Remedy
Sun Pharma announced an $11.75 billion acquisition of Organon, a U.S. pharma firm with roughly $6.2 billion in annual revenue. The deal comes as the Trump administration prepares 100% tariffs on certain patented drugs, pressuring generic exporters to secure domestic supply chains....
Parexel Acquires Vitrana to Boost AI-Driven Patient Safety Platform
Parexel announced the acquisition of Vitrana, an AI‑enabled pharmacovigilance technology provider, to create a single‑partner model for safety services and software. Financial terms were not disclosed, but the deal expands Parexel’s AI capabilities and promises faster, more compliant adverse‑event processing...
Zayo's $8.5B Crown Castle Fiber Deal Pushes Network to 224,000 Miles
Zayo has closed an $8.5 billion transaction to acquire Crown Castle’s Fiber Solutions business, adding roughly 90,000 metro‑dense route miles and 40,000 on‑net enterprise locations. The deal lifts Zayo’s total network to 224,000 route miles across North America, positioning the company...
Educating Owners: Cutting Through Unrealistic Valuation Expectations
Not a week goes by without hearing about traditional business owners with valuation expectations that are completely detached from reality... I've seen and experienced that to be one of the real drawbacks of proprietary deal flow. When no broker or advisor has...
S&P 500 Drops Profit Rule, Becomes PE Dumping Ground
On S&P 500 Rule Changes: “The S&P 500 is removing long-standing profitability requirements — the “enshittification” of the index. This change potentially turns the index into a “dumping ground” for Private Equity to offload unprofitable, highly leveraged companies onto retail index...
Lakshmi Mittal, Poonawalla-Led Group to Buy IPL Franchise for $1.65 Billion
A consortium led by steel billionaire Lakshmi Mittal and vaccine tycoon Adar Poonawalla has agreed to buy the Indian Premier League franchise Rajasthan Royals for $1.65 billion, the highest price paid for an IPL team. Mittal will own about 75% of...
Buy Turpaz: Phoenix Deal Boosts US Footprint
Macro: Turpaz expands US via $95M Phoenix acquisition. Key: $36.8M rev, $6.9M adj EBITDA, $2M synergies, strong liquidity. Risk: integration & rich valuation. Trade: buy the consolidation. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Meta Acquires Assured Robot Intelligence to Accelerate Humanoid Robot Push
Meta Platforms has completed the acquisition of Assured Robot Intelligence, a San Diego‑based AI startup focused on humanoid robot control. The deal, announced Friday, brings co‑founders Lerrel Pinto and Xiaolong Wang into Meta’s Superintelligence Labs, underscoring the tech giant’s aggressive...
Japan’s Hotel New Daishin and 24 Care Homes Shut After Aggressive Expansion
The president of the firm that bought Hotel New Daishin and dozens of nursing facilities has overseen the closure of the Choshi hotel and at least 24 care homes after an aggressive acquisition drive since 2020. The chain, which purchased...
Paramount‑Skydance Deal Faces Broad Opposition After Shareholder Vote
Paramount Skydance's $31‑per‑share, $111 billion acquisition of Warner Bros. Discovery cleared a shareholder vote, yet a coalition of Hollywood talent, labor groups and Democratic officials is mobilizing against it, citing antitrust risks and job losses. The clash underscores the stakes of...
European Corporate Divestitures in Healthcare Technology and MedTech: 2026 Trends, Predictions and Analysis
European healthcare‑technology and MedTech firms are entering a "Great Rationalisation" in 2026, pruning non‑core assets as loan maturities of €86.2 billion loom and global M&A volume is projected at $3.9 trillion. The pivot is driven by higher interest rates, a looming pharmaceutical...
Turn Healthcare Roll‑Ups Into 2‑X Returns Without Personal Capital
the healthcare roll-up nobody talks about: buy at 4–5x EBITDA combine into platform sell to PE at 10–12x i run a multi 7 figure healthcare org built this way vendor financed zero personal capital
Zero Capital, Vendor‑Financed Deals Scale Healthcare Acquisitions
healthcare acquisition proof: my multi 7 figure organisation: – vendor financed every deal – zero personal capital – off market sourcing only my radiology friend: – $200M exit – zero personal capital the structure works in every healthcare vertical
Cognizant to Acquire Astreya, Expanding AI‑builder and AI‑ops Capabilities
Cognizant has signed a definitive agreement to acquire San Jose‑based Astreya, a platform‑led AI‑first managed‑services provider, for an undisclosed sum. The deal is positioned to broaden Cognizant’s AI builder portfolio and add production‑grade AI‑ops tools as the industry races toward...
Healthcare Platform Gold Rush: Fragmented Market, Easy Funding
the honest truth about building a healthcare platform: the sector is fragmented now motivated sellers are everywhere vendor finance is available i built multi 7 figures before institutions arrived the window is still open
Fund Managers Sell Magnificent 7 to Fund SpaceX Bets
Interesting article from @theinformation's @coryweinberg and @validapau. To sum it up (as I can't post it): Fund managers are getting ready by planning to sell big chunks of “Magnificent 7” tech stocks — especially Apple, Nvidia, Microsoft, and Tesla — to...
Intellia’s In‑Vivo CRISPR Therapy Clears Phase 3, Prompting $1.9 B Chiesi Deal
Intellia Therapeutics announced that its single‑dose in‑vivo CRISPR therapy lonvoctocogene‑z cut hereditary angioedema attacks by 87% in a Phase 3 trial, the first such success for any in‑vivo CRISPR product. Two days later, Italy’s Chiesi Group acquired KalVista Pharmaceuticals for $1.9 billion,...
Grassroots Spirit Airline Buyout Promises $22M, Lacks Funds
Viral Grassroots Effort To Buy Spirit Airlines Claims $22 Million In Pledges — But Has No Cash And No Business Plan - View from the Wing https://t.co/Cek09e5wjC
PE‑owned Carrier Contracts Show Zero Concern
This happens all the time. Carrier wise contracto s owned by PE that don't appear to give a shit
San Diego Padres Sale Agreed To With Investor Group; MLB Must Approve Deal
The San Diego Padres have agreed to sell control to an investor group headed by entrepreneur Kwanza Jones and private‑equity billionaire José E. Feliciano. The transaction, announced by the late owner Peter Seidler’s family, values the franchise at a record‑setting...
Enterprise Solutions Buys Hawkeye Electric, Boosting Mountains' Arizona Reach
White Mountains Partners' portfolio company Enterprise Solutions announced the acquisition of Arizona‑based Hawkeye Electric. The deal adds a seasoned commercial‑electrical contractor to Enterprise's platform, deepening its presence in the fast‑growing Southwest market.