Today's Private Equity Pulse
DOJ clears $111bn Paramount‑Skydance and Warner Bros Discovery merger
The U.S. Department of Justice approved the $111 billion merger of Paramount Skydance and Warner Bros Discovery, clearing a major antitrust hurdle. The deal is expected to generate $6 billion in synergies, though it still faces a UK competition investigation.
Also developing:
By the numbers: Qualitas expands into Europe with Starz acquisition
E. & J. Gallo Buys Four Roses Bourbon for $775 Million, Sharpening Portfolio Diversification
E. & J. Gallo Winery announced a $775 million acquisition of Four Roses bourbon, marking its largest foray into premium spirits. The deal, driven by CFO‑level capital allocation, follows a wave of layoffs at Gallo’s wine operations and reflects a strategic pivot toward higher‑margin categories.
SMFG, Nippon Life in Talks to Set up 500 Billion Yen Private Credit Fund: Sources
Sumitomo Mitsui Financial Group (SMFG) and Nippon Life Insurance are negotiating a joint‑venture to launch a private‑credit fund with at least ¥500 billion (about $3.3 billion) in initial capital. The fund will focus on leveraged‑buyout loans, real‑estate financing and mezzanine debt, and...
Exclusive: Everstone and Others Inject $150 Mn Fresh Capital Into Wingify
Singapore‑based Everstone Capital and existing minority investors have injected roughly $150 million (Rs 1,381 crore) into Wingify through a rights issue, issuing 1.6 million shares at Rs 8,590 each. Everstone, which acquired a majority stake in January 2025, led the round with $135 million, while other...
Chapters Group: German Conglomerate Aiming to Be the Next Berkshire Hathaway
Chapters Group, a German conglomerate, is executing a classic buy‑and‑build strategy by acquiring fragmented European software firms—about 1.1 million small, legacy businesses—at roughly 6‑7 times earnings, far below the double‑digit multiples seen in larger tech deals. The company organizes acquisitions into three...
Gulf Funds Poised to Finance Paramount's $81B Warner Deal
MyPOV: the middle east to the rescue. Gulf Funds Near Deal to Back Paramount’s $81 Billion Takeover of Warner https://t.co/hTIMzrGhf5
Paramount Seeks $24B Saudi-Backed Equity for WBD Takeover
is this February news? Paramount is in talks to secure signed equity commitments of close to $24 billion from three sovereign-wealth funds led by Saudi Arabia to help back its takeover of Warner Bros. Discovery https://t.co/7XR7k0sk2k via @WSJ
Nykaa in Talks to Buy Majority Stake in Deepika Padukone's Skincare Brand 82°E
Nykaa is negotiating to acquire a majority stake in Deepika Padukone’s premium skincare label 82°E, aiming to strengthen its House of Nykaa portfolio. 82°E’s FY25 revenue slipped to about $1.8 million, a 30% decline, with a loss of roughly $1.5 million, prompting...
The Unilever-McCormick Deal Ushers in a New Era for Condiments
The U.S. condiment and spice market has expanded over 50% since 2019, driven by social‑media trends, pandemic‑era home cooking, and a surge in global flavor interest. On March 31, McCormick announced a merger with Unilever’s food division, forming a $44.8 billion entity...
Accenture Sells Mortgage Cadence, Frees 20% Cash with AI and Lifts Dividend 10%
Accenture completed the sale of its Mortgage Cadence subsidiary to PartnerOne, unlocking 20% of idle cash and saving 57,000 work hours through internal AI. The move coincides with a 10% dividend hike and new stakes from Norges Bank and Capital...
Acquire Competitors with SBA 7(a) for Cash Flow
The competitor acquisition is the one most existing business owners sleep on. SBA 7(a) covers it. You eliminate the competition and add cash flow at the same time. One of the cleanest deal theses we close. More operators should be looking at...
Deal Timeline: 60‑90 Days, Diligence
Solid framework. What it doesn't show: steps 4-6 take 60-90 days and a bad month during diligence can reprice or kill the deal. Also that 5% seller note goes on standby for 2 years per SBA rules. Structure works when...
IMPALA Was Unhappy About UMG’s Purchase of Downtown. Now It Says WMG’s Revelator Acquisition Is ‘Bad News for Artists, Fans,...
IMPALA has condemned Warner Music Group’s agreement to acquire independent platform Revelator, labeling the deal “bad news for artists, fans, and Europe’s diversity.” The acquisition, announced on April 1 and slated to close next quarter, will fold Revelator’s digital distribution, rights‑management...
Anthropic Commands $2 Billion in Late‑Stage Private‑Market Funding, Outpacing OpenAI
Anthropic's shares have become the most sought‑after private‑market asset, with investors ready to deploy $2 billion, according to Rainmaker Securities. The surge eclipses demand for OpenAI and underscores a broader private‑equity pivot toward AI startups.
Carlyle Group (CG) to Acquire Majority Stake in MAI Capital at $2.8B Valuation
The Carlyle Group announced a definitive agreement to acquire a majority stake in MAI Capital Management, valuing the wealth‑management firm at more than $2.8 billion. MAI, which oversees roughly $72.6 billion in assets across 40 U.S. offices, will retain a minority equity...
Apollo (APO) Funds Acquire Gatehouse Living Group From Gatehouse Bank
Apollo Global Management’s funds bought Gatehouse Living Group from Gatehouse Bank on April 1. The deal brings Gatehouse Investment Management and Ascend Properties into Apollo’s UK housing portfolio, adding a platform that owns more than 5,000 homes and manages over...
From Struggling Buyout to Global Fund Builder
My conversation with @PRamanathan on how he helped lead a management buyout of a struggling cathodic protection business in 2003 and turned it into Corrosion Technology Services. Himself local to Dubai, Ram's company, CTS, includes 10 companies operating across 8 countries...
Actis Scouts for Fresh Renewables Projects in Mexico, Chile
Actis, the London‑based private‑equity firm with a $15 billion portfolio, is shifting focus to renewable‑energy projects in Mexico and Chile after exiting Peru’s largest power producer for roughly $1.2 billion. The firm’s North‑America director told LatinFinance the next investment wave will target...
Investors Snap Up Music Catalogs, Driving Surge in Deal Activity
Dealmaking around blockbuster music catalogs has accelerated in 2026, with at least four high‑profile artist agreements announced and a flurry of quieter negotiations. Investors are drawn by the steady royalty streams these assets generate, prompting a surge that could reshape...
KKR Postpones Sale of Majority Interest in MPIC Hospital Group
KKR & Co. and Singapore sovereign‑wealth fund GIC have postponed the sale of their 80% stake in Metro Pacific Health, the Philippines’ largest private hospital group. The delay stems from an inability to achieve the valuation the investors seek, a...
Dealmaker's Log: African Private Equity and VC Deals in March 2026
The March 2026 Dealmaker’s Log reports more than 39 private equity and venture capital transactions across Africa, featuring a roster of active investors such as SPE Capital, RMB Corvest, Nedbank Private Equity, Phatisa, and Partech. The deals span sectors from...
Brookfield Mirrors Berkshire Hathaway with $3 Billion Power Deals and Aggressive Roll‑Ups
Brookfield Corporation is accelerating its acquisition engine, using an insurance‑float model similar to Berkshire Hathaway. Recent $3 billion Google hydropower contract and a 10.5‑gigawatt Microsoft renewable pact underscore a strategy of large‑scale roll‑ups that could redefine private‑equity dynamics.
Buyout Strategies Look Same; People Make the Difference
When talking to a lot of lower middle market firms, the buyout strategy is almost always the same. There is not a lot of differentiation. They are all kind of doing the same thing. What is different are the people and personalities...
Kushner Pursues $5 B Funding for Affinity Partners Amid Middle‑East Peace Push
Jared Kushner, former senior adviser to Donald Trump, is raising at least $5 billion for his private‑equity vehicle Affinity Partners as he negotiates high‑profile Middle‑East peace deals. The fundraising effort leans on sovereign‑wealth investors from Saudi Arabia, Qatar and the UAE,...
Intel to Repurchase Apollo’s 49% Stake in Fab 34 for $14.2 B
Intel has struck a deal with Apollo Global Management to repurchase the private‑equity firm’s 49% ownership of the Fab 34 manufacturing site in Ireland for $14.2 billion. The transaction, announced this week, is intended to give Intel full control of a...
College Dropout Steven Pivnik Turns Mainframe Skills Into $115K Salary and Multi‑Million Exit
Steven Pivnik, who quit Baruch College in 1988, leveraged a mainframe programming course to land a job at Reader's Digest, founded the software firm Binary Tree, earned $115,000 annually, and secured a multi‑million‑dollar acquisition by Quest Software in 2020. His...
Saks Global Secures $500 Million to Exit Chapter 11, Paving Way for Luxury Retail Turnaround
Saks Global Enterprises has secured a $500 million financing commitment from its capital partners, positioning the luxury retailer to exit Chapter 11 bankruptcy this summer. The deal follows a $2.7 billion acquisition of Neiman Marcus that left the company $3.4 billion in debt and forced...
Mastercard Acquires BVNK
Mastercard announced the acquisition of BVNK, a developer‑centric fintech that offers API‑driven card issuance and rapid payment‑flow integration. The deal equips Mastercard with embedded‑finance tools designed to slash merchant onboarding times and streamline consumer checkout experiences. By folding BVNK’s agile...
Rainmaker Securities Rides Anthropic Boom as SpaceX Eyes Private‑market Entry
Rainmaker Securities' president Glen Anderson says investors have $2 billion ready for Anthropic, making it the hardest stock to source in the secondary market. At the same time, SpaceX’s potential private‑placement activity could shift demand away from AI rivals OpenAI and...
Buffett Chooses Companies Based on Durability, Not Sales
. @vickeller on Warren Buffett and Berkshire Hathaway acquiring three of his companies, and what he looked at in his companies: "Mr. Buffett acquired businesses that I was fortunate enough to be part of founding. I don't think anybody sells a...
Engine, Nuqleous Merge Backed by Rubicon to Create Unified Retail Data Platform
Engine and Nuqleous announced a merger that consolidates their retail analytics capabilities under the Engine brand. Private‑equity firm Rubicon Technology Partners stays on as the majority investor, positioning the new entity to scale faster in the CPG data market.
Goldman Sachs Acquires Innovator Capital, Adding $31B in ETFs
Goldman Sachs finalized the purchase of Innovator Capital Management, bringing roughly $31 billion in assets under supervision into its ETF platform. The deal expands Goldman’s active ETF suite to 240 funds, positioning it among the world’s ten largest active ETF providers.
Trail Blazers Owner Tom Dundon Declares Shift to Winning Culture After $4.25B Sale
New Trail Blazers owner Tom Dundon announced that the franchise will abandon its recent development‑first approach in favor of a win‑oriented culture. The statement follows the NBA Board of Governors' approval of the $4.25 billion sale of the team, and comes...
Lundin Gold Locks $1.1 Billion Silver Streaming Deal with LunR Royalties
Lundin Gold Inc. announced a definitive silver streaming agreement with Canada‑based LunR Royalties Corp., exchanging a life‑of‑mine silver stream for 50,505,051 LunR common shares. The deal, slated to close in Q2 2026, will be paid out as a dividend‑in‑kind, expanding...
Starbucks Closes China Business Sale, Eyes 20,000 Stores
Starbucks has finalized a transaction with Boyu Capital, transferring a 60% controlling interest in its China business while retaining a 40% stake and licensing the brand. The partnership aims to accelerate expansion from roughly 8,000 stores to 20,000 across China,...
Renters Buy LA Skyscrapers as NYC Office-to-Home Conversions Double
Capital Group agreed to purchase the 55‑story Bank of America Plaza in downtown Los Angeles for about $210 million, while New York City’s office‑to‑apartment conversion pipeline has surged to 16,358 projects—almost twice last year’s total. The twin trends signal a rapid...
Intel Pays $14.2 Billion to Reclaim Full Ownership of Ireland Fab 34 From Apollo
Intel completed a $14.2 billion transaction to buy back Apollo’s 49% stake in its Fab 34 plant in Ireland, restoring full ownership. The deal lifted Intel’s stock nearly 5% and underscored the massive capital needed to compete in advanced chip manufacturing, a...
Amazon in $9 B Talks to Acquire Globalstar, Boosting Its Low‑Earth‑Orbit Satellite Fleet
Amazon is in advanced discussions to buy Globalstar for roughly $9 billion, a deal that would add the LEO operator’s 24‑32 satellites to Amazon’s Leo constellation. The transaction would also involve Apple, which holds a 20% stake in Globalstar, and could...
Molex Completes Acquisition of Smiths Interconnect
Global connector leader Molex has completed its largest acquisition to date, buying Smiths Interconnect, a UK‑based provider of ruggedized custom connectors, RF components and optical transceivers. The deal adds Smiths Interconnect’s semiconductor test and medical interconnect capabilities, expanding Molex’s data‑center...
Lead Edge’s Latest Flagship Taps Secondaries Amid AI-Driven Shifts
Lead Edge Capital announced the launch of its seventh flagship fund, which will focus on secondary market investments. The new vehicle is designed to deploy capital across a broad spectrum of secondary strategies, from fund‑level transactions to direct‑secondaries. Leveraging artificial‑intelligence...
Buy McCormick to Capture M&A Premium Amid Consumer
Q1 saw rare consumer megadeals as firms seek scale to counter slowing growth, tariffs and shifting tastes. Risks: integration and regulatory hurdles. Trade insight: buy McCormick for M&A premium capture. — Viktor Kopylov, PhD, CFA More insights: t.me/si14Kopylov
Owner Resource Group Announces the Sale of Bill Gosling Outsourcing
Owner Resource Group (ORG) announced the sale of its Bill Gosling Outsourcing platform to Frontenac, a Chicago‑based private‑equity firm, with the transaction closing on March 23, 2026. Bill Gosling, a global BPO serving fintech, auto‑finance, digital‑native and utilities clients, grew...
Blue Owl Caps Redemptions as $5.4 B Withdrawal Wave Hits Private Credit Funds
Blue Owl Capital announced a 5% quarterly redemption cap on its flagship Credit Income Corp. and Technology Income Corp. after investors sought to pull $5.4 billion – 21.9% of the $36 billion Credit Income fund and 40.7% of the tech‑focused fund –...
Engine and Nuqleous Merge to Form Unified Retail Data Platform
Engine and Nuqleous, two Northwest Arkansas data‑analytics firms, have merged under the Engine brand to offer a unified retail data, analytics, data‑science and shelf‑execution platform for CPG manufacturers. Private equity firm Rubicon Technology Partners remains the majority investor, and CEO...
Emerging Managers Face Punch-Drunk LPs
US emerging private‑equity managers are enjoying a surge in fundraising, yet limited partners (LPs) remain wary. The Buyouts Emerging Managers Survey 2026 reveals that despite strong capital inflows, LPs are reluctant to commit to newer funds. Concerns center on limited...
Target 150bp Yield Spread Over Market Cap
How private equity firms analyze deals: Most important metrics: 1. Stabilized cap rate (yield): Since we focus on value add, the entry cap doesn’t matter much, as long as we can service our debt The stabilized yield matters because it shows the intrinsic...
Red Lobster’s Collapse Reveals Elitist Contempt in Populism
Red Lobster did go bankrupt after a PE firm bought them. But it was also after that PE firm sold them to a non-PE company. There’s an elitist strain to economic populism where they have utter contempt for the people they’re...
Big Media Deals Reveal Hidden Undervalued Gems
the 9-figure acquisitions of The Free Press and TBPN tell you that: - yes, most media properties are overvalued and sinking - but also, some are way way undervalued bullish on the next gen
OpenAI's TBPN Acquisition Rooted in 1902 Anti‑capitalist Precedent
If you are wondering why @openai bought @tbpn, then you have to go back to 1902 to get an answer, from an unlikely and the least capitalistic of sources. My short and sweet column from last evening (tip @techmeme). https://t.co/OUAfFSYMS6
Seeking Buyer for World’s Largest Gardening Media Empire
Now that media businesses are being bought left right and center... Who wants to own the largest gardening media company in the world that also sells a ton of product in thousands of stores around the country and online? I can...
Former Hollywood Workers Flood Me for Business Deals
In the past 6 months, I’ve had more calls from ex-Hollywood workers than ent other group looking for help to buy a business to gain an income.