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
Barclays Completes Best Egg Acquisition, Expanding U.S. Consumer Lending Platform
Barclays PLC announced that its U.S. consumer‑banking subsidiary has closed the acquisition of Best Egg, a direct‑to‑consumer personal‑loan fintech. The deal, first disclosed in October 2025, adds a capital‑light lending platform to Barclays' growing U.S. retail banking operations, signaling a deeper push into digital consumer finance.
Esperion to Be Bought by ARCHIMED in $1.1 B Deal, Shares Surge 56%
Esperion Therapeutics agreed to be acquired by funds managed by ARCHIMED for up to $1.1 billion. Shareholders will receive $3.16 in cash per share—a 58% premium—plus contingent milestone payments that could add $100 million. The announcement sent the stock up 56% in...
Emerald Lake Secures $825M Mid‑Market Fund, Outpacing Mega‑Funds
Emerald Lake Capital Management closed its latest fund at $825 million, $75 million above the revised hard cap and well beyond its $500 million target. The oversubscribed raise underscores a growing LP preference for mid‑market managers as mega‑funds struggle to find deployment opportunities.
Memestock Monster GameStop Wants to Try to Devour eBay for some Reason
GameStop is reportedly building a stake in eBay as it explores a potential acquisition of the online marketplace, which is roughly four times its size. The move aligns with CEO Ryan Cohen’s plan to shift GameStop toward collectibles and second‑hand...
True Private Equity Deals Should Never Hit Zero Value
Value degradation in the space of business acquisitions and private equity... “Within any given portfolio in finance, you probably should expect one or two deals to go to zero...” Craig Dupper of Elan Growth Partners believes this is not the case at...
Lone Star Funds Completes Dual Acquisitions to Form Global Tier‑1 Compounder
Lone Star Funds closed the purchase of RadiciGroup’s high‑performance polymers and specialty chemicals businesses and signed binding agreements to acquire DOMO Engineered Materials. The combined platform will become a global, independent tier‑1 compounder backed by Lone Star’s $96 billion of committed...
JSW One Acquires BuildNext to Bolster Home‑Construction Tech Suite
JSW One Platforms has completed a share‑swap acquisition of BuildNext Construction Solutions, backed by Pidilite Ventures, to integrate design, execution and supply‑chain capabilities. The deal includes a Rs 22 crore ($2.6 million) convertible‑preference investment by Pidilite, signaling confidence in the combined offering.
Santander Finalizes $3.8 Billion TSB Takeover, Biggest UK Banking Deal in 15 Years
Santander UK has closed a near‑£3 bn ($3.8 bn) acquisition of TSB, the largest banking investment in Britain in over a decade and a half. The merger lifts the combined group to the third‑largest position for current accounts and fourth for mortgages,...
Ecovyst to Acquire INEOS' Calabrian Sulfur Business for $190 Million
Ecovyst Inc. announced a $190 million deal to acquire INEOS Enterprises' Calabrian sulfur dioxide and sulfur derivatives business. The acquisition, slated to close by the end of Q2 2026, will add products such as sodium bisulfite and sodium metabisulfite to Ecovyst’s portfolio...
Boyne Capital Closes $355 Million BCM Fund III to Back Lower‑Middle‑Market Companies
Boyne Capital announced the closing of its third investment vehicle, BCM Fund III, at $355 million. The Miami‑based firm now has more than $725 million in commitments since 2006 and will continue targeting family‑owned lower‑middle‑market businesses.
OnePlus Is Reportedly Merging with Realme and 'Evaluating' Its Future — but I'm Convinced that This Is Fantastic News for...
OnePlus is reportedly exploring a merger with sister brand Realme as it slows its product cadence and reassesses its regional roadmap. Both companies sit under BBK Electronics, which has already combined OnePlus with Oppo in the past. The speculation comes...
Thyssenkrupp, Jindal Steel Pause Talks on Steel Unit Stake
Thyssenkrupp AG announced it is pausing negotiations with Jindal Steel International over a potential stake in its steel division. The German firm said the original assumptions and prerequisites for a sale have shifted dramatically in recent months. Both parties agreed...
STG Buys Carrier Logistics, Adding AI‑Driven Freight Software to Its Portfolio
STG has completed the acquisition of Carrier Logistics, a LTL management software provider, marking the firm’s first direct investment in transportation. The deal gives Carrier Logistics fresh capital to expand AI‑driven capabilities, while STG broadens its data‑focused portfolio beyond its...
Belden to Buy RUCKUS Networks for $1.85 Billion, Boosting Enterprise Wi‑Fi Portfolio
Belden Inc. announced a definitive agreement to acquire RUCKUS Networks from Vistance Networks for about $1.85 billion in cash, targeting a second‑half‑2026 close. The deal will lift Belden’s solutions mix above 20% of revenue and triggers a temporary pause on share...
Nebius Group to Acquire Eigen AI for $643 Million, Shares Jump 12%
Nebius Group N.V. announced a $643 million cash‑and‑stock deal to buy AI inference specialist Eigen AI, sending Nebius shares up 11.7% to $154.39. The transaction aims to fuse Eigen’s model‑optimization tech with Nebius’s compute platform, positioning the combined entity at the...
Recharge Acquires Skio to Form $20 B Subscription Commerce Platform
Recharge announced the acquisition of Skio, merging two leading subscription‑management solutions into a single platform that now serves more than 20,000 merchants and processes over $20 billion in gross merchandise volume each year. The deal aims to combine data sets and...
A $34 Billion Private Equity Exit Is Going to Be a Long Slog
Advent and Cinven are exiting their €17 bn (≈$18.6 bn) purchase of TK Elevator with a €29.4 bn ($34.4 bn) sale to Finland’s Kone. The deal includes €20 bn in cash and Kone shares, of which only €5 bn is paid upfront, leaving €15 bn tied to...
Lazard Posts 5% Q1 Revenue Rise and Announces $575M Campbell Lutyens Deal
Lazard announced first‑quarter 2026 adjusted net revenue of $673 million, up 5% year‑over‑year, alongside record $9 billion net asset‑management inflows. The firm also disclosed a $575 million all‑stock acquisition of private‑markets adviser Campbell Lutyens, creating a new global business unit aimed at scaling...
GameStop Targets $45 Billion eBay Deal, Stocks Surge on M&A Rumor
GameStop (GME) is reportedly preparing an offer to buy eBay, a company valued at about $45 billion—over three times GameStop’s market cap. The news sent eBay shares up roughly 10% and GameStop up 7% in after‑hours trading, igniting speculation about leverage,...
Santander-Backed Ebury Secures $700 Million to Accelerate Cross‑Border Payments Expansion
Ebury, Santander’s international payments fintech, closed a £550 million ($700 million) funding round led by Centerbridge Partners, with Santander contributing £50 million and retaining a 55% stake. The capital will fund AI‑enhanced product development and geographic expansion, underscoring rising demand for faster, scalable...
GameStop Mulls $45 Billion Bid for eBay, Raising Leveraged Deal Concerns
GameStop (GME) is reportedly preparing an offer to buy eBay, a transaction that would exceed $45 billion and dwarf GameStop’s $11 billion market cap. The potential deal would require heavy leverage, prompting analysts to weigh the strategic upside against financing risks.
Meta Acquires Assured Robot Intelligence to Accelerate Humanoid Robot Push
Meta Platforms closed its acquisition of Assured Robot Intelligence, a San Diego‑based AI startup, to boost its humanoid robotics program. The deal, announced Friday, brings co‑founders Lerrel Pinto and Xiaolong Wang into Meta’s Superintelligence Labs, underscoring the company’s $125‑$145 billion AI‑focused capital...
TPG Posts $282M Distributable Earnings as AUM Hits $306B, Deploys $14B in Q1
TPG announced $282 million in after‑tax distributable earnings for Q1 2026, with assets under management rising 22% to $306 billion. The firm deployed $14 billion across private‑equity, credit and real‑estate deals, while fee‑related earnings surged 36% year‑over‑year.
Home Health & Hospice M&A in 2026: Why the Market Has Reset and What Buyers Want Now
Home health and hospice M&A activity is rebounding in early 2026, but buyers are imposing stricter underwriting standards. Valuations have shifted from peak‑era multiples to performance‑based pricing, with EBITDA add‑backs limited to 12‑15% and multiples ranging 10‑15× EBITDA for strong...
Versant Divests SportsEngine to PlayMetrics in Strategic Youth‑Sports Deal
Versant has sold its SportsEngine youth‑sports technology platform to PlayMetrics for an undisclosed sum, part of a broader strategic review. The deal transfers software serving over 16 million athletes and expands PlayMetrics' operating system across the youth‑sports market.
GameStop Mulls $45 B Offer for eBay, a Deal Worth Triple Its Market Cap
GameStop is reportedly lining up a bid to acquire eBay at a valuation exceeding $45 billion, more than three times GameStop’s own market cap. The proposal would require heavy leverage, as GameStop holds about $9 billion in cash and marketable securities.
10 Local ABC, CBS, FOX & NBC Are Getting New Owners
Gray Media and Allen Media Group have completed a $171 million deal to transfer ten television stations across ten U.S. markets. Gray acquired three new‑market stations in Mississippi and Indiana on March 26, 2026, and closed on seven overlapping stations on May 2,...
Meta Acquires San Diego Robotics Startup ARI to Accelerate Humanoid Robot Push
Meta has bought Assured Robot Intelligence (ARI), a San Diego startup that builds AI models for humanoid robots. The undisclosed deal adds a team of about 20 engineers to Meta’s Superintelligence Labs, underscoring the company’s renewed focus on real‑world robotics...
Sonex Reopens Under New Ownership
ON Capital Inc. has acquired the assets of Sonex LLC and reopened its Oshkosh‑based kit aircraft factory. Production resumed within three weeks, with High‑Wing tail kits slated to ship this month and full kits by mid‑summer. The new ownership appoints...
Nebius Acquires AI Model Optimization Startup Eigen AI for $643M
Nebius Group NV announced it will acquire AI model‑optimization startup Eigen AI for $643 million, using a mix of cash and stock. The deal, expected to close within weeks, will integrate Eigen AI’s kernel‑level performance tools into Nebius’s managed inference platform,...
Replit’s Amjad Masad on the Cursor Deal, Fighting Apple, and Why He’d Rather Not Sell
Replit’s CEO Amjad Masad said the AI coding platform is racing toward a $1 billion annual run rate after posting just $2.8 million in revenue for 2024. The company boasts net‑revenue retention as high as 300% and has been gross‑margin positive for...
Meta Buys Robotics Startup to Bolster Its Humanoid AI Ambitions
Meta has acquired the humanoid robotics startup Assured Robot Intelligence (ARI) for an undisclosed sum, adding its team to the company’s Superintelligence Labs research division. ARI specializes in foundation models that enable robots to understand, predict, and adapt to human...
Where Premiums Will Be Paid: Fashion & Beauty M&A Trends From 2025 to 2026
2025 saw a wave of high‑profile fashion and beauty M&A, highlighted by Prada’s €1.25 billion (~$1.36 billion) acquisition of Versace, Caleres’ $105 million purchase of Stuart Weitzman, and e.l.f. Beauty’s $1 billion deal for Rhode. The transactions underscore a shift from pure brand prestige to...
Clearlake Capital Acquires Qualus, Boosting Grid‑Modernization Portfolio
Clearlake Capital Group finalized its purchase of Qualus Corporation from New Mountain Capital, adding a pure‑play electric‑power solutions platform to its portfolio. The deal, whose financial terms were not disclosed, deepens Clearlake’s exposure to grid‑modernization technologies amid rising demand for...
California Bill Demands Transparency From Private Equity Funds
This is good California legislation. It would force PE funds to disclose write-downs, actual performance statistics, and the use of ponzi style continuation funds. https://t.co/DNO3TCVSvD
Radio One to Acquire Two Heritage DFW Signals
Urban One, the parent of Radio One, announced it will acquire two heritage FM stations in Dallas‑Fort Worth—104.5 KKDA, a long‑standing hip‑hop outlet, and 105.7 KRNB, an adult R&B station—from Service Broadcasting Group. Simultaneously, Urban One is divesting its 94.5 KZMJ signal to...
Private Equity Targets Universities Amid Enrollment Decline
This the reality of the private equity marriage to higher ed, which begins with athletics but I think will move toward education as schools are crunched for money with the enrollment cliff (fewer kids born in U.S. starting in 2008)...
GTCR Teams with Data Veteran Brian Crotty to Launch Avelis Holdings
GTCR announced a partnership with seasoned data executive Brian Crotty to form Avelis Holdings, a subscription‑based market‑intelligence platform targeting commodity and industrial sectors. The move underscores GTCR’s Leaders Strategy™ of building operating capabilities alongside seasoned CEOs to capture fragmented data...
Nordstrom Shutters Two Full‑Line Stores as $6.25 B Privatization Spurs Restructuring
Nordstrom announced the permanent closure of its full‑line stores at Christiana Mall in Delaware (April 30) and Galleria Dallas in Texas (May 16). The moves follow the family’s $6.25 billion buyout with El Puerto de Liverpool and a 3.7% drop in fourth‑quarter 2024 store...
Diehl Automotive Group Adds Toyota, VW Dealerships Amid Buying Spree
Diehl Automotive Group announced the acquisition of Firelands Toyota and Volkswagen dealerships in Wooster, Ohio, along with an off‑site collision center, marking its second and third purchases in four months. The deals bring Diehl’s portfolio to 24 rooftops representing 13...
Literati Gets PE-Backing to Grow Book Fairs; StudyPoint Scooped Up
Literati, the children’s book‑fair provider that generated $40 million in annual revenue and serves 2.5 million students, was acquired by private‑equity firm Trustbridge Partners. Trustbridge will integrate Literati with its existing children’s publishing portfolio, which includes Candlewick Press and Holiday House. In...
Blackstone Launches AI-Focused Fund, Appoints Jas Khaira
Blackstone launches dedicated AI and tech investing arm, names Jas Khaira to lead Read more here: https://t.co/tKbwIwKPVr https://t.co/Q28FGsDTda
AI & Capital Weekly
The latest AI & Capital Weekly notes a clear regime shift in U.S. private markets as fundraising momentum rebounds into 2026. About 59% of general partners are optimistic about hitting their targets despite heightened LP selectivity. A bifurcation is emerging:...
PE-VC Investments Down 32% Y-O-Y in April
Private equity and venture capital investment in April 2026 fell 32% year‑on‑year to $1.9 billion, down from $2.8 billion a year earlier. The number of deals slipped 30% to 87, and mega‑deals over $100 million shrank to six, representing $1.1 billion of capital. Early‑stage...
Big 12 Deal Could Redefine Athlete‑NCAA Legal Landscape
The Big 12’s multimillion dollar private equity deal with RedBird and Weatherford isn’t just new money—it could rewrite the legal relationship between athletes, schools, conferences, the NCAA & investors. I break down the stakes + risks for @Sportico.👇 https://t.co/uPrjJNUHFz.
People Moves: Mercer Advisors, Alaris Acquisitions Hire New M&A Leaders
Mercer Advisors created a chief corporate development officer role and hired Jimmy Zhao, a former McKinsey partner who has advised on more than 50 transactions worth over $100 billion in enterprise value. At the same time, Alaris Acquisitions added Tony Leonard...
Clearlake Acquires Qualus, Exits New Mountain's Grid Bet
Clearlake takes Qualus off New Mountain Capital's books in grid infrastructure bet Read more here: https://t.co/IDKdYzVS5P https://t.co/Y1eH1XSX4z
New PE Firm Mako Officially Rolls Out
Mako, a new private‑equity firm, has officially launched with Oscar Munoz, the former chairman and CEO of United Airlines, as one of its co‑founders. The firm positions itself to back growth‑stage companies, especially in transportation, logistics and related sectors. Early...
Founders Fund Secures Record $6 B for New Fund
Founders Fund has raised $6 billion for a new fund, reports @nmasc_ on @TheTerminal Will discuss details of it on the show today. This is the firm's largest haul ever.
CloserStill Media Acquired by Current Investor Providence in Partnership With Searchlight for £1.3B
Private equity firm Providence Equity Partners is reacquiring UK B2B events operator CloserStill Media in partnership with Searchlight Capital for a reported £1.3 billion (≈ $1.65 billion). The deal gives both investors co‑control and positions them to fund the next growth phase, including...