Today's Private Equity Pulse
Blackstone closes $13.1B Asia fund, its biggest ever
Blackstone announced the closing of its third Asia private‑equity vehicle, Blackstone Capital Partners Asia III, at $13.1 billion, surpassing its $10 billion target and more than doubling the capital of its predecessor. The fund is the firm’s largest Asia‑focused raise and Blackstone has deployed over $7 billion across 12 deals in the region in the past two years.
Also developing:
By the numbers: Metatron Private Equity acquires Green Circuits Inc.
Why Pharmacy Remains a Compelling Mid-Market Play
Pharmacy remains a high‑resilience, mid‑market investment thanks to steady demand and predictable cash flows. Demographic trends, especially an aging U.S. population, are driving prescription volumes upward at roughly 3% annually. Regulatory protections and reimbursement structures create defensible market positions that limit competition. Recent consolidation activity, highlighted by Bass, Berry & Sims, signals strong private‑equity appetite for scalable pharmacy platforms.
Buy a Profitable Business Instead of Starting From Scratch
Entrepreneurs: Stop building from scratch when you can BUY a business already making money. Learn about Entrepreneurship Through Acquisition
From First Angel to $4B Spinout: Boomi’s Evolution
Boomi was my first Angel investment. We were their customer at Half dot com in 2000 and used their system to send / receive inventory and orders with sellers. Then eBay signed up. Acquired by Dell in 2010 then spun...
Ligand Pharmaceuticals Acquires XOMA Royalty in a $739 Million Deal
Ligand Pharmaceuticals announced a $739 million acquisition of XOMA Royalty Corporation, offering $39 per share—a 2.9% premium to the prior close. The transaction also grants XOMA shareholders a contingent value right (CVR) tied to 75% of net proceeds from pending TREMFYA...
VVARDIS Announces Investment From Apollo —Achieves Unicorn Status
vVARDIS Holding AG announced a strategic minority investment from Apollo‑managed funds, propelling the Swiss dental‑med tech firm into unicorn status with a valuation north of $1 billion. The capital will finance the next phase of global commercial expansion for its Curodont™...
Don’t Let Compliance Gaps Cost You a Merger
Law firm mergers in the UK are set to surge in 2026, with roughly one‑third of firms eyeing consolidation and private‑equity pouring about £1.2 billion (≈ $1.5 billion) into the sector. The FCA’s tightening AML oversight means that any compliance gaps—especially in client‑onboarding—can...
Dignio Investment Signals Remote Care International Expansion
Summa Equity, through its Fund III vehicle, has invested in Norwegian health‑tech firm Dignio to accelerate the company’s remote‑care platform. Dignio provides an integrated digital solution that combines remote patient monitoring, telehealth visits, and automated medication dispensing for home‑based care....
Four Pharma Deals Showcase Hefty Premiums, Billions at Stake
Today's M&A notes $ARX.to to be acquired by $SHEL.LN for $8.20 cash per share + 0.40247x shares, 26.6% premium, $22.0 billion $OGN to be acquired by Sun Pharmaceutical for $14.00 cash per share, 138.9% premium, $11.75 billion $RMAX to be acquired by $REAX...
Aerospace and Defense M&A Activity: Strategic Positioning Amid Robust Growth
M&A activity in aerospace and defense reached record levels in 2025, with 532 announced transactions and $42.7 bn in aggregate value. Europe emerged as a growth engine, posting a 320% jump to $8.7 bn, while North America still held the largest share...
Brookfield's Insurance Float Fuels Global Real‑Asset Push, Including India
Brookfield Corporation is leveraging its $135 bn insurance platform and $3 bn annual fee earnings to accelerate investments in infrastructure, renewable energy and private‑equity assets worldwide. The firm’s recent MOUs in Andhra Pradesh signal a new wave of private‑equity‑style capital flowing into...
Leonardo Del Vecchio Secures €10 Billion Buyout, Becomes Largest Ray‑Ban Shareholder
Leonardo Maria Del Vecchio has completed a €10 billion ($11.8 billion) buyout of his brother Luca and sister Paola, acquiring their combined 25% stake in Delfin Sarl. The deal, approved by a majority of the eight family shareholders, lifts his holding to...
People Can Fly Acquires Cooldown Games to Grow Publishing Business
People Can Fly, the studio behind Bulletstorm, announced the acquisition of Irish indie developer Cooldown Games. The deal, whose financial terms were not disclosed, adds a new publishing arm to People Can Fly’s portfolio and reflects broader consolidation trends in...
Sun Pharma to Acquire Organon for $11.75 Billion, Expanding B2B Drug Portfolio
Sun Pharmaceutical Industries has signed a definitive agreement to acquire Organon & Co. for $11.75 billion in cash, paying $14 per share. The deal will lift combined revenue to $12.4 billion, push Sun into the top three global women’s‑health players and make...
Deal Quality, Not Partners, Drives Rapid Acquisition Surge
Had a quick 30 minute conversation with a guy who has done six acquisitions and is working on another three right at that moment. "Finding operating partners has not been difficult. The issue is not finding people; the issue is finding...
Honeywell Gives up on the Warehouse and Private Equity Is Betting It Shouldn’t Have
Honeywell is exiting the warehouse‑automation business, selling the Intelligrated‑Transnorm unit it built with nearly $2 billion of investment over the past decade. The deal, announced on Thursday, transfers the combined operation to a private‑equity firm at an undisclosed price. The move...
United CEO’s Statement About American Airlines Merger Idea He Has Floated
United Airlines CEO Scott Kirby announced he had approached American Airlines with a proposal to merge, positioning the deal as a growth‑driven partnership that would enhance customer experience and global competitiveness. American publicly rejected the overture, closing the door on...
Synertrade Relaunches as Independent Company Following Management-Led Transaction
Synertrade completed a management‑led transaction on March 31, 2026, separating from French IT services group Econocom and becoming an independent company. The deal installed former COO Laurent Jeanmaire as CEO and Fabien Guionnet as COO, backed by a consortium of...
Morning SPAC News Roundup: April 27, 2026
The Morning SPAC News Roundup for April 27, 2026 is a subscription‑only digest that aggregates the latest special‑purpose acquisition company (SPAC) activity. The post is hosted on SPAC Insider and requires a monthly plan to view any specific deals, filings,...
Thermo Fisher Scientific to Sell Microbiology Business to Astorg for $1.075bn
Thermo Fisher Scientific announced the sale of its microbiology business to private‑equity firm Astorg for $1.075 billion. The divestiture aligns with Thermo Fisher's strategy to sharpen focus on its core life‑science platforms and accelerate growth in high‑margin segments. Astorg will acquire...
Porsche to Exit Bugatti Rimac Stake in Sale to HOF-Led Consortium
Porsche announced it will divest its 45% stake in the Bugatti Rimac joint venture, selling to a consortium led by HOF Capital. The transaction, expected to close later in 2024, has no disclosed price but is positioned to free up capital...
Private Credit Surpasses Junk Bonds as Fast‑Growing Corner of PE Market
Bloomberg reports that the private credit market has expanded so rapidly it now exceeds the size of the junk‑rated corporate bond market. The surge, driven by private‑equity firms and insurers, is altering corporate debt dynamics while prompting worries about higher...
Apollo Funds to Acquire Forvia's Interiors Business in Carve‑Out Deal
Apollo Global Management’s private‑equity funds announced a deal to acquire the Interiors Business Group of Forvia SE. The carve‑out, which includes instrument panels, door panels and center consoles, is expected to close in the second half of 2026 and adds...
Denso Mulls $9 B Withdrawal of Rohm Takeover, Threatening Japan’s Chip Supply Chain
Denso Corp. is considering pulling its $9 billion acquisition proposal for semiconductor maker Rohm Co., after failing to secure the target’s support. The possible retreat could fragment Japan’s power‑chip consolidation and reverberate through automotive and data‑center supply chains.
China Blocks Meta's $2 B Acquisition of AI Startup Manus
Meta Platforms' $2 billion bid to acquire AI startup Manus was ordered cancelled by China's National Development and Reform Commission, citing compliance with domestic laws. The move underscores Beijing's tightening grip on foreign takeovers of firms with Chinese ties and puts...
European Stocks Open Flat as Middle East Tensions Loom and ECB Decision Awaits
European equities opened with little movement on Monday, as the STOXX 600 held at 610.86 points. Traders weighed rising oil prices, stalled US‑Iran peace talks and the pending European Central Bank policy meeting, while individual stocks such as Nordex and...
Warner Bros. Discovery’s Coyote‑Acme Fallout Revives Power Struggle for CEO David Zaslav
Warner Bros. Discovery’s long‑shelved animated feature Coyote v. Acme re‑emerged this week, just as shareholders approved Paramount Skydance’s $110 billion acquisition offer. The drama has reignited criticism of CEO David Zaslav’s cost‑cutting strategy, which already saw the $90 million Batgirl cancellation.
USA Rare Earth Commits $2.8 B to Brazil’s Serra Verde, Boosting U.S. Rare‑Earth Supply Chain
USA Rare Earth (USAR) signed a definitive agreement to acquire Brazil’s Serra Verde Group for $2.8 billion, combining $300 million in cash and 126.85 million newly issued shares. The deal secures the Pela Ema mine, the only non‑Asian source capable of producing all...
Sun Pharma to Acquire Organon for $11.75 B, Boosting Women’s Health and Biosimilars
Sun Pharmaceutical Industries announced an all‑cash deal to acquire Organon & Co. for $14 per share, valuing the U.S. firm at $11.75 billion. The merger will lift Sun Pharma into the top‑25 global drugmakers, give it a top‑3 position in women’s...
New Dark Matter CEO Eyes Deals, AI-First Future
Dark Matter Technologies named former CTO Vikas Rao as its new CEO, pledging an AI‑first roadmap for its Empower loan‑origination platform. At the Horizon conference the firm unveiled Ask Aiva, an AI chatbot that will evolve into a task‑performing copilot across...
Nestlé Confirms Blue Bottle Coffee Sale as Restructuring Accelerates
Nestlé announced during its Q1 briefing that it has agreed to sell Blue Bottle Coffee’s café and consumer‑packaged‑goods (CPG) operations to China‑based private‑equity firm Centurium Capital. The Swiss giant will keep the rights to Blue Bottle’s single‑serve Nespresso‑compatible pods, allowing...
Former LVMH Exec Launches Ireland’s First Luxury Group
Former LVMH executive Ashley McDonnell is launching VYKO Group, Ireland’s first luxury holding company. The venture aims to raise €50 million (about $55 million) in 2026 to acquire minority to full stakes in Irish fashion, beauty, spirits, jewellery and fine‑food brands. VYKO...
European and UK PE Exit Activity Slows in Q1, but Deal Pipeline Builds for Potential Rebound
European and UK private equity exit activity slowed in Q1 2026, with exits falling to 244 deals worth $32.3bn, down from 278 deals and $58.9bn the previous quarter. UK exit count dropped to 46, though deal value modestly rose to...
LP Concerns Mount over Conflicts in Continuation Vehicle Process
Large institutional investors are raising concerns about conflicts of interest in private‑equity continuation vehicle transactions. These deals, which move assets from mature funds into new structures, accounted for about 20% of PE exits last year and exceeded $100 billion in volume,...
Denso Withdraws Rohm Bid as Three-Way Merger Takes Hold
Denso Corp is likely to withdraw its February bid to acquire Japanese chipmaker Rohm after Rohm’s board rejected the offer. Rohm instead favours a three‑way merger with Toshiba and Mitsubishi Electric to combine their power‑semiconductor businesses. The proposed tie‑up would...
Thrive Targets Sports Sector with San Francisco Giants Investment
Thrive Capital is moving beyond its tech‑centric roots by taking a minority stake in the San Francisco Giants through its newly created Thrive Eternal vehicle. The permanent‑capital fund targets long‑lasting assets such as sports franchises and cultural institutions, reflecting founder...
Blue Owl Expands Real Estate with Sila Realty Acquisition – Merger Arbitrage Mondays
Blue Owl Capital announced a $2.4 billion all‑cash acquisition of Sila Realty Trust, a healthcare‑focused REIT, at $30.38 per share—a 19% premium to the prior close. The deal, expected to close in Q2‑Q3 2026, adds 137 properties across 65 U.S. markets...
Struggling Telecel Zimbabwe Put up for Sale Amid $240M Debt Crisis
Telecel Zimbabwe has been put up for sale, with offers due by April 28, 2026, as it seeks to exit a court‑supervised rehabilitation that began in October 2025. The operator is burdened with more than $240 million in debt and its...
Sun Pharmaceutical Acquires Organon for $11.75 Billion
Sun Pharmaceutical Industries announced an all‑cash acquisition of Organon & Co. for $11.75 billion, offering $14 per share—a 24.33% premium to the prior close. The deal values Organon at 6.76 times its EBITDA and will be funded through Sun Pharma’s cash...
Control the Close: 3C Method Doubles Business
double your business using 3C closing control: – timeline: you set it – structure: engineered before the call – exclusivity: locked in the NBIO – due diligence: you run the clock – close: you call the date amateur buyers let sellers conduct 3C operators dictate the orchestra business doubled before the...
Build Trust First: Solve 4 Core Concerns Before Pricing
double your business using the 3C seller psychology: they're not selling a price they're solving: – legacy anxiety – staff protection – customer continuity – certainty of close solve all four before tabling a number vendor finance follows trust trust follows the 3C approach
How Trump Pushed Aleph Alpha and Cohere Together
German AI startup Aleph Alpha announced a merger with Canadian rival Cohere, creating a combined entity valued at $20 billion. The deal brings together Aleph Alpha's strong foothold in European multilingual language models and Cohere's enterprise‑focused large language model platform. Both...
Eli Lilly Acquires Ajax to Strengthen JAK Pipeline
Lilly to buy startup Ajax in bid for a better JAK drug https://t.co/RMQQZ4mRFG $INCY $BMY $LLY $TAK #biotech #startups
T‑Mobile, Verizon Urged to Chase Charter Now
"T-Mobile and Verizon should attempt to acquire Charter for massive value creation opportunities. The Trump Presidency is the time to try. A merger with Comcast is far less valuable, but better than doing nothing." via Peter Supino at Wolfe Research
EQT’s Record $15.6 Billion Asia Close Signals a New Era for Private Equity in the Region:
EQT closed its BPEA Private Equity Fund IX at a record $15.6 billion, making it the largest Asia‑focused buyout vehicle ever. The raise follows EQT’s 2022 acquisition of Baring Private Equity Asia and signals renewed institutional confidence after years of regulatory...
Operating Expertise Fuels Garnett's Disciplined Buy‑and‑build Growth
Operating experience, speed, and disciplined scale define Garnett Station Partners’ buy-and-build strategy. Co-founders Alex Sloane and Matthew Perelman share their path from franchise operators to investors, plus their playbook behind sourcing, integration, capital allocation, and long-term value creation. https://t.co/aXSbsUHr9g With thanks to...
Tikehau Capital Hits €53bn AuM, 64% IRR After Schroders Exit
Q1 in focus: @Tikehau_Capital grows AuM to €53bn as Schroders exit delivers 64% gross IRR Get the full scoop here: https://t.co/lT7Wc2omop https://t.co/bxMRxd9rcW
March-April Issue of Deal Lawyers Newsletter
The March‑April 2026 issue of the Deal Lawyers newsletter was dispatched to the printer on April 27 and is now accessible online for subscribing members. It features three in‑depth pieces: a Delaware court decision on indemnification materiality scrapes, a practical guide...
VRT Acquires Firm to Boost Liquid Cooling Expertise
$VRT: makes another acquisition to further strengthen its liquid cooling system and engineering expertise. https://t.co/1DyyOBJIc8
Pentagon Reimagined as a Venture Capital Firm
What would Eisenhower say? The man turning the Pentagon into a venture capital firm https://t.co/3QKm6nPCv5
Apollo Spins Off Forvia's Interiors Into Independent Automotive Powerhouse
Apollo carves out Forvia's interiors division to build a standalone automotive powerhouse Get the full story here: https://t.co/ClxFXkMKGi https://t.co/joSxZzeNvD