Today's Private Equity Pulse
Blackstone closes record $13.1B Asia private‑equity fund
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.
Intel to Repurchase Apollo’s 49% Stake in Fab 34 for $14.2 Billion
Intel announced it will repurchase Apollo Global Management’s 49% stake in its Leixlip, Ireland Fab 34 for $14.2 billion, using existing cash and about $6.5 billion of new debt. The move restores full control of a key EUV‑enabled facility and lifted Intel shares more than 9% on the day.
Windrose Health Investors Launches Technology Services Team
WindRose Health Investors, a New York‑based private equity firm managing roughly $7 billion, announced the creation of a dedicated technology services team. The new unit will provide digital expertise to the firm’s healthcare service portfolio, aiming to accelerate modernization and operational...
Trimble Acquires Document Crunch to Boost Construction‑Tech Portfolio
Trimble Inc. agreed to acquire Document Crunch, an AI‑driven construction document‑analysis platform, for an undisclosed sum. The deal, expected to close in Q2 2026, adds risk‑management capabilities to Trimble’s construction ecosystem without materially affecting its 2026 guidance.
Oak Hill Capital Completes Acquisition of Hunter Communications
Oak Hill Capital has completed its acquisition of Oregon‑based fiber provider Hunter Communications, a deal first announced in December. Hunter operates a 3,000‑plus‑mile network serving roughly 35,000 customers across the Pacific Northwest. The new capital backing will accelerate fiber expansion...
GPs’ Next Path to Fundraising and Liquidity
Carlyle has launched a live secondary‑market transaction that pushes structured solutions for general partners (GPs) to a new level. The deal illustrates how sophisticated financing tools can provide immediate liquidity and streamline fundraising for private‑equity firms. By packaging future cash...
Iran War May Dampen Packaging M&A in 2026
The Iran war has injected fresh geopolitical risk into the packaging sector, curbing M&A momentum in 2026. While Q1 saw 36 announced deals—up slightly from 34 a year earlier—the pace lags behind earlier forecasts and megadeals are fading. Companies are...
Lattice and Crosschq Acquire
In this 7‑minute episode of This Week in RegTech, host Chris Russell highlights two major acquisitions shaping talent acquisition: Crosschq’s purchase of Tradeify to create an outcome‑trained hiring model, and Lattice’s acquisition of Mandela’s AI‑native coaching tech to accelerate its...
GALLO Completes Acquisition of Four Roses Bourbon
GALLO has completed the purchase of Four Roses Bourbon from Kirin Holdings, returning the iconic brand to U.S. family ownership after 83 years. The deal keeps Master Distiller Brent Elliott and the existing team intact, preserving the bourbon’s heritage recipes....
Ares Raises Combined $5.4 Billion for U.S. and Europe Value-Add Real Estate Strategies
Ares Management announced it has raised roughly $5.4 billion in aggregate capital for its U.S. and European value‑add real estate strategies, closing US Real Estate Fund XI at a $3.1 billion hard cap and European Property Enhancement Partners IV at $1.9 billion. The combined...
EBITDA Compares, Not Values: Beware Cash Flow Gaps
Charlie Munger famously said: "every time you see the word EBITDA, you should substitute the words 'bullshit earnings'." He's half right. (yah look at me contradicting the eternal god of wisdom) But for real investors mess up when they try and use EBITDA...
SePRO Acquires Earth Science Laboratories to Expand Water Treatment Portfolio
SePRO Corporation announced the acquisition of Earth Science Laboratories Inc., bringing the latter’s EarthTec and EarthTec QZ treatment technologies into SePRO’s water‑treatment suite. The deal expands SePRO’s capabilities in algae control, taste‑and‑odor mitigation, and invasive‑species management for municipal and environmental water...
Cybersecurity M&A Roundup: 38 Deals Announced in March 2026
In March 2026, thirty‑eight cybersecurity‑focused M&A deals were announced, marking a rapid acceleration in the sector. The month’s headline transactions include Google’s $32 billion closure of the Wiz acquisition, Zurich’s $11 billion purchase of Beazley, and a series of AI‑security buyouts such as...
Investment Group Acquires Stake in TotalEnergies’ German Energy Storage Portfolio
TotalEnergies has sold a 50 % stake in its 800‑MW German battery storage portfolio to Allianz Global Investors for about €500 million (≈$577 million). The portfolio comprises 11 projects under construction, delivering 1,628 MWh of capacity and slated for commercial operation within two years....
Mayo-Mustard Merger, Creatine Craze and HOP WTR On Top
The podcast highlighted McCormick's pending merger with Unilever's food division, uniting brands like Hellmann's and French's. Constellation Brands agreed to acquire HOP WTR, a functional sparkling water, while Create Wellness secured $20 million to expand into powdered beverages. Q Mixers announced its first...
B.P. Marsh Buys Additional 2% Equity Stake in Pantheon
B.P. Marsh has increased its ownership in London‑based wholesale insurer Pantheon to 41% by buying an additional 2% stake, valuing the broker at roughly $352 million. The investment was funded from existing cash reserves and follows an initial 25% purchase in...
Top Infra Secondaries Opportunities Emerge Mid-Lifecycle – BNP Paribas AM Alts
BNP Paribas Asset Management's alternatives arm has launched its inaugural infrastructure secondaries fund, following a seed portfolio built in 2023 after the team moved from AXA IM Prime. The fund secured its first close in 2024, signaling growing investor appetite...
An Evolution: LP and GP Interest in Structured and CFO Technology Is on the Up
Temasek launched its first collateralised fund obligation (CFO) in 2006, pioneering structured‑finance technology. Over the past two decades the CFO market has matured, drawing renewed interest from both limited partners (LPs) and general partners (GPs). Recent data shows a surge...
Shift Up Acquires Shinji Mikami's Unbound Studio to Boost Global Game Portfolio
Korean developer Shift Up announced it has bought all shares of Shinji Mikami’s Unbound studio, adding the veteran’s team of about 50 developers to its roster. The deal positions Shift Up to publish Unbound’s upcoming AAA game while strengthening its...
Bloomberg: Leveraged Lending Insights – 3/30/2026
The Bloomberg US Leveraged Loan Index (LOAN) posted a 0.48% gain in March, snapping a slide that began in January. The modest rebound lifted the year‑to‑date performance to a still‑negative ‑0.56%. The March uptick reflects improving credit market sentiment after early‑year...
OTH Acquires Bellhart, Expands Hubs to Cut Costs
Macro: coastal marine services consolidate. Key: OTH buys Bellhart, adds 3 NC hubs to cut third‑party costs. Risk: low margins, approvals. Trade: buy OTH on weakness. 🚤 — Viktor Kopylov, PhD, CFA. More insights: t.me/si14Kopylov
Medallia Loan Collapse Erases $5.1B Equity, Media Silent
Medallia loan value continues to decline, with latest marks at 69. With the term loan in distress, the $5.1 billion of equity has certainly been vaporized. This -100% private equity loss surpasses any private credit loss by an order of magnitude. Where's...
M&A Roll-Up Playbook: How Zayo Did 45 Acquisitions and Returned 8.5x | Dan Caruso (Part 1)
In this episode, Dan Caruso, founder and former CEO of Zayo, walks through his 45‑deal roll‑up strategy that delivered an 8.5x return, sharing how he built a disciplined, buyer‑led M&A thesis, sourced and integrated fiber assets, and allocated capital to...
Kingsway: A Different Type of Serial Acquirer
Kingsway Financial Services has launched a publicly‑traded vehicle that mimics the high‑return search‑fund model, allowing retail and institutional investors to participate in serial acquisitions. The firm targets lower‑middle‑market companies, buying them outright or taking controlling stakes, then applying operational expertise...
A Voyage Around the History of Private Equity: From Profits and Power to Public Scandals
Hettie O’Brien’s new book *The Asset Class* chronicles the rise of private equity, portraying it as a force that has both accelerated growth and generated deep‑seated scandals. The review highlights vivid case studies—from Blackstone‑owned care homes to the debt‑laden UK...
Loan Note: Andalusian BDC Joins with Carlyle; Värde in SRT Agreement with Klarna
Andalusian BDC has entered a joint venture with private‑equity giant Carlyle to expand its private‑credit platform across Europe. The partnership aims to originate and manage mid‑market loan assets, leveraging Carlyle's global reach and Andalusian's local expertise. Meanwhile, asset manager Värde...
T‑Mobile, TPG Weigh $5‑6 B Bid for Uniti Group’s Fiber Assets
T‑Mobile US and Fort Worth‑based private‑equity firm TPG are exploring a joint $5‑6 billion acquisition of Uniti Group’s fiber‑to‑home and enterprise fiber assets. The rumor has sent Uniti’s stock sharply higher and could dramatically expand T‑Mobile’s broadband footprint.
Intel Buys Back Apollo’s $14.2 B Stake in Fab 34, Regaining Full Control of Irish Manufacturing Hub
Intel announced a definitive agreement to repurchase Apollo Global Management’s 49% equity interest in its Fab 34 joint venture in Leixlip, Ireland, for $14.2 billion. The deal will be financed with cash on hand and roughly $6.5 billion of new debt, and it...
Deal Roundup: Hg Takes OneStream Private at Roughly $6.4bn Equity Valuation, Oak Hill Buys Into Guild Garage Group
Hg has completed an all‑cash take‑private acquisition of OneStream, valuing the enterprise finance management platform at roughly $6.4 bn in equity. The transaction adds a leading cloud‑based corporate performance management solution to Hg’s technology portfolio. By buying the company outright, Hg...
Nano-Cap SaaS Gem: Headwinds, Green Shoots, and the Private Equity Playbook
The micro‑cap SaaS company posted FY2025 results that mix balance‑sheet strength with top‑line weakness. An at‑the‑market offering wiped out legacy debt, leaving the firm with zero debt and an undrawn credit line. Revenue fell year‑over‑year as its volatile segment faced...
PE-Backed Lawfront Buys Reading Firm Field Seymour Parkes
Lawfront, a private‑equity‑backed legal services platform, announced the acquisition of Reading‑based boutique Field Seymour Parkes. The deal adds roughly 30 lawyers and expands Lawfront’s presence in the South East, complementing its existing UK network. Field Seymour Parkes, known for corporate...
PE Exits Slow as AI Disruption and Geopolitical Tensions Weigh on Markets
Private equity firms saw exit activity plunge 36% in Q1 2026, with disposals dropping to roughly $103 billion. The slowdown is driven by AI‑related market volatility and heightened geopolitical risk, especially the Iran conflict, which have rattled both private and public‑market...
KDP Secures Controlling Stake in JDE Peet’s, Appoints Rafael Oliveira to Lead Coffee Spin-Off
Keurig Dr Pepper has acquired a 96.22% stake in JDE Peet’s, creating a controlling interest that merges KDP’s single‑serve system with JDE’s global coffee brands. Rafael Oliveira has been appointed CEO of the combined coffee unit and will later lead the...
Apollo Funds Buy Rental Property Manager Gatehouse Living
Global alternative asset manager Apollo’s funds have acquired Gatehouse Living Group, a UK residential investment manager that operates about 10,000 homes. The purchase includes Gatehouse Investment Management and its Ascend property‑management arm, though the price was not disclosed. Existing CEO...
Fremman Capital Flies Past Fund II Target to Reach €808m Final Close
Fremman Capital announced that its second private‑equity fund closed at €808 million, roughly $880 million, exceeding the original €750 million ($818 million) target. The final close was achieved in under 18 months, indicating strong investor appetite. The fund will continue Fremman’s pan‑European buy‑out strategy across...
BCUBE Deal Aims to Build Italy’s Largest Airport Cargo Handling Platform
BCUBE Group has signed a purchase agreement to acquire Italy’s Alha Group, a specialist in airport cargo handling and integrated airfreight solutions. The merger will create the country’s largest cargo handling platform, linking major hubs such as Rome Fiumicino, Milan...
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$BILD.V is a “boring” flooring roll-up led by a CEO who understands capital allocation. While the housing sector is weak, co is acquiring assets at 1–2x EBITDA. In 2–3 years, it could be trading at a 13–15% FCF yield, with further roll-up...
The Great Family Business Sale
Family business sale activity accelerated sharply in the first quarter of 2026, as owners cite heightened tech disruption, shifting social norms, and generational succession pressures as catalysts. Deal flow is outpacing previous quarters, prompting many to view the market as...
Align Capital Partners Picks up More than $400m for Proceed Continuation Fund
Align Capital Partners has secured roughly $405 million for a continuation fund dedicated to Proceed, its tech‑enabled legal services platform. The capital will support Proceed’s next phase of growth, including product development and potential acquisitions. The continuation vehicle allows existing investors...
Heavy Oversubscription Sees Japan’s NSSK Strike JPY250bn Fund IV Hard Cap
Nippon Sangyo Suishin Kiko (NSSK) closed its fourth private‑equity fund at the hard‑cap limit of JPY250bn (approximately $1.7bn) after the fund was more than twice oversubscribed. The strong demand underscores a renewed appetite among institutional investors for Japanese mid‑market buyout...
Publicis Acquires 160over90, Makes Sports Its ‘Next Big Bet’
Publicis Groupe has acquired 160over90, a leading sports and culture agency with more than 670 employees, to bolster its Publicis Sports division. The undisclosed‑price deal, pending regulatory clearance, brings expertise across events such as the Super Bowl, Olympics and World...
Imdex Snaps up the Rest of Krux Analytics
Imdex has paid roughly $23 million to acquire the remaining 60% of Krux Analytics, completing its ownership of the drilling‑software specialist. The deal follows a 2023 purchase of a 40% stake, giving Imdex full control of Krux’s data‑capture platform. Krux’s software...
Why a Valuable Business Doesn’t Need You
Agency owners often gauge value by turnover and profit, but buyers focus on systems and infrastructure that sustain earnings after the founder exits. A business reliant on its owner poses transition risk, leading to lower multiples or earn‑out structures. Conversely,...
Del. Chancery Addresses When “Mere Puffery” Crosses the Fraud Line
The Delaware Court of Chancery issued a letter opinion in Shareholder Representative Services v. Sphera Solutions, clarifying when optimistic buyer statements cross from mere puffery into actionable fraud. The magistrate held that Sphera’s promise to substantially increase its marketing budget...
Are Bidder-Initiated Takeovers Opportunistic?
The authors test whether bidder‑initiated takeovers exploit private information to overpay with inflated shares, contrasting that view with a rational payment‑design hypothesis. Analyzing 2,968 U.S. public acquisitions from 2000‑2020, they find bidders launch only half of deals and stock financing...
WTW Completes Acquisition of FlowStone Partners: Private Equity New Phase:
WTW has completed its acquisition of FlowStone Partners, adding specialist private‑equity secondary capabilities to its advisory platform. The deal expands WTW’s private‑markets offering, targeting high‑net‑worth and mass‑affluent investors seeking alternative exposure. By merging institutional‑grade secondaries expertise with its wealth‑management reach,...
Molex Completes Acquisition of Smiths Interconnect
Molex announced the completion of its acquisition of Smiths Interconnect, the UK‑based subsidiary of Smiths Group, marking the largest deal in Molex’s history. The purchase adds a portfolio of ruggedized connectors, RF components, optical transceivers and semiconductor‑test expertise, extending Molex’s...
EMGS Sells Core Geoservices Business in $2.5 Million Deal to Riggs Capital
Electromagnetic Geoservices (EMGS) has agreed to sell its core offshore geoservices business to private‑equity firm Riggs Capital for up to $2.5 million. The deal provides $1 million at closing and a $1.5 million earn‑out tied to future performance, while Riggs assumes selected liabilities....
Leveraged Loan Insight & Analysis – 3/30/2026
The US broadly syndicated loan market issued about $779 billion in the first quarter of 2026, marking a 6% decline year‑over‑year and a 10% drop from the previous quarter. New‑issue loans accounted for roughly 32% of total activity, amounting to $251 billion,...
How Asset-Based Finance Is Finding Its Role in Commercial Real Estate Portfolios
Asset‑based finance (ABF) is transitioning from a niche product to a mainstream funding source for commercial‑real‑estate (CRE) owners, offering loans secured by property, equipment, or receivables. The secured structure enables higher leverage and lower covenant intensity than traditional cash‑flow loans,...
Amazon Eyes Globalstar Acquisition; 2028 Target Alerts Triggered
Wow, $AMZN in talks to buy $GSAT Been solid one all year, Jan 2028 calls hit my alerts 3/31 https://t.co/OvcOV5QTT1