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
Allvia Acquires HR Pals to Expand Workforce Services Platform
Allvia, the workforce services platform backed by Trinity Hunt Partners, announced the acquisition of HR Pals, a Los‑Angeles‑based provider of outsourced HR administration. The deal broadens Allvia’s technology‑enabled suite across the employee lifecycle and underscores a wave of consolidation in HRTech.
Herbalife to Spend $55 M on Bioniq Assets, Boosting Data‑Driven Nutrition Platform
Herbalife Ltd. announced a $55 million acquisition of assets from UK‑based Bioniq, adding a biomarker‑powered supplement engine to its portfolio. The deal, slated to close in Q2 2026, aims to scale personalized nutrition through the company’s global distributor network.
Global PE Firm Advent International Eyes 25% Stake in Potato-Maker Iscon Balaji
Advent International is in early talks to acquire a 25% stake in Iscon Balaji Foods, valuing the Indian potato processor at roughly ₹5,000 crore (about $600 million). The deal highlights growing private‑equity interest in India’s frozen‑potato and quick‑service‑restaurant supply chain. IBF supplies frozen fries...
Four Seasons Sale Sparks Private‑Equity Surge in UK Care‑Home Market
Four Seasons Health Care, founded by Robert Kilgour in 1989, grew to 43 homes before being sold to a private‑equity consortium in 1999. The deal launched a wave of PE ownership that has turned elderly residents into cash‑generating assets, prompting...
JPMorgan Engineers $15 B Debt Sale for EA’s $55 B Record LBO
JPMorgan Chase & Co. finalized a $15 billion debt package that underpins Electronic Arts' $55 billion leveraged buyout, the largest LBO in history. The financing was completed on March 22 despite heightened geopolitical risk surrounding potential U.S. action against Iranian energy infrastructure.
SinoPac Bank Approves $100 Billion Merger with King’s Town Bank
SinoPac Bank’s board voted to merge with King’s Town Bank, creating a $100 billion financial institution. The deal will be funded by issuing 1.865 bn new common shares at NT$24 per share plus a cash component, consolidating the two banks under SinoPac...
Alaska Buying JetBlue? Not So Fast
Alaska Air is eyeing JetBlue as a potential acquisition, attracted by the combined route map and East Coast foothold. The deal would give Alaska access to Boston, JFK slots, the Mint premium brand, and a fleet of A321LRs suited for...
Merck Buys TERN, CORT Gets FDA Cancer Nod as Trials Split, Anavex Pulls EU Filing
Merck announced a cash deal to acquire TERN, while CORT secured FDA clearance for its cancer therapy. In parallel, INSM reported positive trial data, VALN fell short of expectations, and Anavex withdrew its EU filing for an Alzheimer’s candidate.
AI-Driven Lettings Roll‑up Scales with $93M Fundraise
. @DanLifshits, co-founder of Dwelly, explains how he and his partners are building an AI-enabled roll-up in the UK lettings market by acquiring independent agencies and modernizing them with software. After completing 9 acquisitions in just 24 months, Dwelly recently announced...
More Tools Lead to Better Products and Stronger Business
Although this example of increasing competitiveness comes from the public markets... I believe the same principle applies just as strongly to investing in and building companies in the $1-15M EBITDA range. "With more tools you are better equipped to understand the world...
DJs Blame Private Equity for Music Firm’s Woes
Native Instruments, a leading music‑software and hardware maker with 25 million users, filed for insolvency after years under private‑equity ownership. DJs and producers blame the financial engineering of its investors for the firm’s collapse, despite a pandemic‑driven sales surge. The company...
Private‑Equity Interest in Sports Grows as MLB Deal Rumors Surface
Unverified reports suggest Detroit Pistons owner Tom Gores is in talks to buy the San Diego Padres, highlighting a broader trend of private‑equity firms targeting marquee sports franchises. While deal specifics remain undisclosed, recent NBA expansion fee estimates of $15‑$20 billion...
FiEE Invests $3 Million to Acquire Majority Stake in AI Music Platform Maltose Culture
FiEE, Inc. announced a $3 million investment that includes a $51,000 equity purchase and a $2.9 million convertible loan, giving it a 51% stake in YinLian Culture and control of the AI‑powered Maltose Culture music ecosystem. The move aims to embed AI‑generated...
The M&A Accretion/Dilution Model Every Founder and Investor Should Run Before Any Deal
The VC Corner blog post unveils a free seven‑sheet Excel model that lets founders and investors run a full accretion/dilution analysis on any M&A transaction. The tool calculates whether the acquiring company’s earnings per share (EPS) will rise or fall...
LVMH Balances Cycles by Pairing Stable Spirits with Fashion
$LVMH laid out the strategy driving their acquisitions in 2002 Holding so many different luxury goods businesses would help to balance the cyclicality of each category. “Wines and spirits are stable businesses with long cycles” versus luxury fashion and ready-to-wear...
Palladium Healthcare to Acquire DME Express From Waypoint in DME Market Consolidation
Palladium Healthcare announced it will acquire DME Express, a durable medical equipment provider, from Waypoint. The deal, terms undisclosed, adds a national DME platform to Palladium’s growing healthcare services portfolio and reflects accelerating consolidation in the DME sector.
Bear Den Partners Unites Berkshire East and Catamount, Forming New Northeast Ski Resort Operator
Bear Den Partners has merged Berkshire East Mountain Resort and Catamount Mountain Resort, creating a four‑mountain alliance that includes Burke Mountain and Smugglers’ Notch. The deal, announced on Feb. 11, adds to Bear Den’s $11.5 million bankruptcy‑sale acquisition of Burke Mountain and...
Navigating Liquidity, March 2026 - The Liquidity Lifeline - How Subscription Lines Help BDCs and Interval Funds Navigate Redemption Pressures
Subscription credit facilities, long used in private‑equity, are re‑emerging as a vital liquidity tool for business development companies (BDCs) and interval funds amid heightened redemption pressures. By tapping uncalled investor commitments, these lines let sponsors meet withdrawals without forced asset...
Peter Debruge Takes Helm of SXSW Film Festival as Penske Influence Grows
SXSW Film & TV Festival named Variety chief film critic Peter Debruge as its new director, effective April 6, as longtime vice‑president Claudette Godfrey steps down after nearly two decades. The change underscores Penske Media Corporation’s growing stake in the...
Carl Hart Launches Millbank Capital to Tap $14 Trillion Succession‑gap Market
Carl Hart has founded Millbank Capital, a Dallas‑based private equity firm that will target mid‑market companies facing succession gaps as baby‑boomer owners retire. The firm hopes to capture a share of the $14 trillion business value slated to change hands over...
EPF Abstains, Handing RM11b Deal to Minority Shareholders
The single largest shareholder in IJM just refused to vote on a RM3.15 per share takeover bid worth RM11b in total. That silence is not neutral — it is doing something specific. (Abstentions in public M&A rarely mean “no opinion.”) EPF, IJM’s...
Seattle Sports Empire Potentially Up for Sale
Is there a Twofer Afoot? 🏈🏀 For Sale: A Seattle Sports Empire? https://t.co/f2DJxWfE1i via @sportico @novy_williams
Fertittas to Purchase Connecticut Sun for Record $300 Million
The Fertitta family, owners of the Houston Rockets, are set to buy the WNBA's Connecticut Sun for a record $300 million, with the franchise slated to move to Houston for the 2026 season and be renamed the Comets. Tilman Fertitta, a...
Deal's Allure Fades when You Crunch the Numbers
Why some business deals look amazing—until you do the math properly. https://t.co/1vSKngieRj #SmallBusiness & Deal Making #SMB https://t.co/wb8AmKBfnA
SEALSQ Corp (LAES): One of the Popular Penny Stocks on Robinhood
SEALSQ Corp announced a Letter of Intent to acquire quantum‑interconnect specialist Miraex, granting a 60‑day exclusivity period for due diligence and targeting a June closing. The deal will be financed through SEALSQ’s Quantum Fund and is binding on Miraex. Miraex’s...
More Insurance M&A Deals on the Horizon?
Insurance M&A activity stabilized in 2025 after a steep 40% drop from 2023, with 211 carrier and broker deals globally, up from just over 200 in 2024. In the U.S. and Bermuda, 455 deals were recorded, but P/C carrier volumes...
From Family Office Advisor to Founder: Raising $25M
An important reminder if you work for a family office or just a HNWI and you've done a wonderful job allocating their capital across various asset classes: fixed income, real estate, public equities, PE, venture capital, private credit, commodities, and traditional...
Trump to Head Saudi‑Backed Investment Summit in Miami Beach as Iran War Rages
Former President Donald Trump is set to headline a Saudi‑backed investment summit in Miami Beach, drawing sovereign‑wealth officials and billionaire financiers. The event comes as the Iran‑Israel war pushes oil above $110 a barrel and rattles equity markets, raising stakes...
Blue Owl Capital Closes $3 B Strategic Equity Secondaries Fund, Boosting GP‑Led Market
Blue Owl Capital announced the final close of its inaugural Blue Owl Strategic Equity (BOSE) fund with more than $3 bn in commitments. The vehicle targets GP‑led continuation funds and minority equity deals, arriving as GP‑led secondaries hit record volumes.
DKSH to Acquire Malaysia's AIC Ingredients, Expanding Southeast Asian Food Business
DKSH Holding AG disclosed a deal to purchase AIC Ingredients Sdn Bhd, a Malaysian bakery‑focused functional‑ingredients maker. The transaction, slated to close in Q2 2026, will create a third ekpi pillar in Malaysia and broaden DKSH’s food‑blending capabilities across Southeast Asia.
Toys “R” Us Canada Launches Sale Process
Toys “R” Us Canada has filed to start a formal sale process, seeking court approval in April 2026 with bids expected in May and a potential closing by mid‑July. The retailer’s footprint has shrunk from 81 stores in 2021 to just...
Ceconomy Says Austria May Block JD.com’s Purchase Offer
Ceconomy announced that Austrian authorities may block JD.com Inc.'s €2.2 billion (~$2.5 billion) offer to acquire the German consumer‑electronics retailer. The Austrian Federal Ministry of Economy has expressed doubts about the transaction’s approvability and refused to join a joint solution‑finding process. Ceconomy...
Synergy Turns 4x Acquisitions Into 10x Value
the roll-up math: buy 8 businesses at 4x combined EBITDA: $4M Synergised platform value at 10x: $40M same earnings the multiple did all the work
Ticker: Versant Looking to Acquire Vox’s Podcast Division, According to Report
Versant, the parent of MS NOW and CNBC, is in early‑stage talks to acquire Vox's podcast division, which produces roughly 40 shows. The potential purchase aligns with Versant's strategy to broaden its political news, opinion, sports and entertainment verticals beyond traditional...
Quality‑of‑Earnings Review Triggers Price Cuts and Walk‑aways
the quality of earnings review finds every time: – inflated owner salary – personal expenses in business – one-off revenue not repeating – related party transactions every finding: – a price reduction – a structure adjustment – a walk away signal never skip it
#58659
Janus Henderson Group plc will hold a shareholder vote on April 16, 2026, to approve a merger with a Jupiter subsidiary owned by funds linked to Trian Fund Management and General Catalyst. If approved, each JHG share converts to a...
From Billion‑Dollar Deals to Billion‑Dollar Turnarounds
IB at Goldman Sachs. PE at TPG. Then he pitched a $1B restaurant buyout at Paulson — now he’s fixing another $1B mess.
Sax Acquires CoMetrics
Sax Advisory Group announced the acquisition of CoMetrics Partners, a boutique consulting and technology firm, expanding its turnaround, profit‑optimization and performance‑analytics services. The deal brings three CoMetrics partners and the entire staff into Sax’s Parsippany, New Jersey headquarters, though financial terms...
From the Supreme Court’s Cox Ruling to Primary Wave’s Kobalt Deal… It’s MBW’s Weekly Round-Up
Primary Wave Music announced a definitive agreement to acquire Kobalt, with Brookfield joining as a strategic investor, creating a sizable independent publishing alternative. The U.S. Supreme Court unanimously ruled that ISP Cox Communications cannot be held liable for subscriber piracy,...
FDIC Overturns 2009 Rule, Clearing Path for Private Equity to Acquire Failed Banks
The Federal Deposit Insurance Corporation and the Federal Reserve announced on March 23 that they have repealed a 2009 rule that limited private‑equity participation in bank resolutions. The change lets non‑bank investors submit bids on failed institutions, a shift that...
Vensure Secures $450 Million to Accelerate M&A and AI‑Driven HR Solutions
Vensure Employer Solutions announced a $450 million senior secured financing led by Stone Point Capital Markets. The capital will fund a wave of acquisitions and expand the company's AI‑powered payroll, benefits and compliance tools, cementing Vensure’s position as a fast‑growing private...
Nestlé Moves Forward with Billion-Dollar Deal: Private Equity Firms Eye Perrier and San Pellegrino
Nestlé is advancing the sale of a 50% stake in its European water division, which includes premium brands such as Perrier, San Pellegrino and Acqua Panna. The transaction is expected to value the division at roughly €5 billion (about $5.45 billion). Private‑equity heavyweight...
Specialized Expertise Thrives Regardless of Market Conditions
I keep seeing and hearing that, in today’s market, many of the most seasoned people in finance are avoiding fundraises and choosing to go deal by deal... That said... I had a brief 30-minute conversation with a gentleman who has raised...
Predictive Intelligence in Snowflake Accelerates Growth Signal Detection
Missed our webinar? See how Crunchbase’s predictive intelligence in @Snowflake helps teams use high-signal data to spot growth, funding, and acquisition signals earlier — and act faster. Get the recording. 🎥: https://t.co/iYm0Ow88gF https://t.co/pJk1MeZSf9
Top 20 Private Equity Firms Leading Cross-Border Investments
An analysis of private‑equity cross‑border activity from 2020 through 2026 shows U.S. firms executed 2,973 platform investments abroad while international firms made 1,330 platform deals in the United States. The report ranks the top ten U.S.‑based PE firms, led by...
Google Quietly Hands Fiber to Subpar PE Provider
Google has flipped its “fiber” business to a really shitty PE-owned broadband provider. And they did it quietly. This is the worst outcome for Google Fiber customers. Tip @techmeme https://t.co/ieoQ0sDH4H
Versant Joins Talks to Buy Vox Media's Podcast Unit
scoop w/@jtes: CNBC and MS Now parent Versant is among the companies in talks to acquire Vox Media's podcast biz https://t.co/sWkoNWwPEH
Lone Star Completes Acquisition of Alliance Ground International
Lone Star Funds has completed its acquisition of Alliance Ground International (AGI), a Miami‑based airport services provider operating at more than 60 North American airports. The deal, announced after a definitive agreement in January, brings AGI’s 12,000‑strong workforce under Lone...
Novartis Acquires Excellergy to Secure Xolair Successor
Novartis targets Xolair successor in buyout of startup Excellergy https://t.co/eGYQ2AxTd5 by @gwendolynawu $NVS $RHHBY #startups #biotech
Tesla and SpaceX to Merge in 2027, Wall Street Analyst Predicts
Wall Street analyst Dan Ives predicts that Tesla and SpaceX will merge in 2027, citing growing operational overlap and shared AI ambitions. The forecast follows Tesla’s $2 billion investment in xAI being converted into a sub‑1% equity stake in SpaceX and...