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.
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 the launch of a joint Terafab chip facility in Austin. Ives also notes SpaceX’s upcoming IPO, which could raise about $75 billion at a $1.75 trillion valuation, providing capital for AI‑focused satellite infrastructure. He maintains an Outperform rating on Tesla with a $600 price target, framing the merger as a “holy grail” for Musk’s tech empire.
Reggie Bush, Terrence Murphy Waste No Time With Deal for LOVB Team
Former NFL star Reggie Bush and ex‑wide receiver Terrence Murphy have turned their on‑field experience into a private‑equity platform, Synergy Sports Capital. The firm, announced three weeks ago with a $150 million fundraising target, already closed its first portfolio transaction by...
Investors Prefer Repeat Sponsor Deals, Building Holding Companies
Important to mention that most of their deals are independent sponsor deals, and most sponsors are not doing their first deal. So far, they’ve done ten deals, and many investors on the platform are building holding companies themselves. (For example, one of...
‘$1 Trillion Gap’ Attracts Private Equity to Women’s Health, Says Kearney’s Paula Bellostas Muguerza; Astorg, Cinven, Nordic Target Pathology Assets
Private equity firms are flocking to women’s health, drawn by a projected $1 trillion spend gap that creates lucrative growth opportunities. Dealmakers such as Astorg, Cinven and Nordic Capital are also targeting pathology assets, citing rising demand for diagnostic services and...
Recordati Gets €10.9bn Takeover Bid From Private Equity Firm
Italian pharma group Recordati has received a €10.9 billion (≈ $12.5 billion) unsolicited takeover proposal from private‑equity firm CVC Capital Partners, which would take the company private and delist it from the Milan exchange. CVC already controls roughly 47% of Recordati’s shares, having...
Synchronoss Names Pat Doran CEO Post‑Lumine Acquisition, Targets Integration
Synchronoss Technologies appointed Pat Doran as chief executive after Lumine Group completed its acquisition. The leadership change comes as Lumine shares fell to C$22 (≈$16.30) on the TSXV, underscoring the need for swift operational integration and growth.
Guardian CEO Shares Plans for Advisor Channel After Desjardins Deal Closes
Guardian Capital Group completed a $1.67 billion take‑private transaction with Desjardins, becoming part of Desjardins Global Asset Management. CEO George Mavroudis, now also president of Desjardins’ asset‑management arm, outlined a plan to accelerate growth in the advisor channel, emphasizing long‑term product...
Advent to Sell Hair Care Brand Olaplex to Henkel for $1.4bn
Advent International is selling its hair‑care brand Olaplex to German conglomerate Henkel for $1.4 billion, ending Olaplex’s Nasdaq listing and Advent’s ownership. The deal values Olaplex at roughly $1.4 billion, reflecting its strong consumer base and premium pricing. Henkel will integrate Olaplex’s...
Profit From the EBITDA Multiple Spread in M&A
M&A basics nobody teaches you: – buy at 3–5x EBITDA – combine into platform – sell at 10–12x – personal capital: $0 the spread between those two multiples is the entire game
Sunway's 387% Surge Beats IJM's 9% Loss
Sunway is showing IJM how to actually make money. A 387% return vs a 9% loss? This isn't just a merger; it's a rescue mission for your portfolio. Let’s break this down: 1. Sunway's 387% dominance. 2. IJM's wealth destruction. 3. The national champion play. 🧵👇🏼
Deal Roundup: Advent Helps Shield AI to $12.7bn Valuation, Lone Star Completes AGI Buyout From Audax, Greenbriar Equity
Advent International led Shield AI’s Series G round, lifting the aerospace and defence technology firm’s valuation to $12.7 billion. The capital infusion supports the company’s push to scale autonomous, AI‑driven drone platforms for military customers. In the same roundup, Lone Star...
FGS Reps Brown-Forman as It Talks Merger
Brown‑Forman, represented by FGS Global, announced it is in merger discussions with French liquor giant Pernod Ricard. Both companies describe the potential deal as a merger of equals that would create a global spirits leader with a balanced geographic footprint. Pernod Ricard...
Early 2026 Secondaries Activity Suggests Ongoing Opportunity in Asset Class: Elm Capital
Elm Capital reports that early‑2026 secondary market activity remains robust as limited partners and general partners turn to secondary transactions for liquidity. The trend reflects a challenging distributions environment, prompting investors to sell or buy portfolio stakes to manage cash...
Tenneco Clean Air Eyes Acquisitions, Ramps up R&D to Drive Next Growth Phase
Tenneco Clean Air India, a subsidiary of the $17 billion U.S. Tenneco group, is gearing up for a new growth phase that includes a potential first acquisition, a new manufacturing plant in Haryana and a $2 million boost to its R&D centre....
PE Targets Pathology Assets: 5 Deals
A group of five private‑equity firms—Astorg, Cinven, Nordic Capital, Consonance and Pike Street—are actively pursuing acquisitions of pathology assets. Their coordinated interest highlights the growing attractiveness of diagnostic services as a stable, cash‑generating sector. The firms aim to consolidate a...
Ares Private Credit Fund Records Record Monthly Loss After Gating Redemptions
Ares Management's $10.7 billion Strategic Income Fund posted a 0.68% loss for February, its worst month ever, after the firm imposed a 5% redemption gate. The move follows a surge of withdrawal requests that exceeded 11% of net assets, underscoring mounting...
Env Zero and CloudQuery Merge to Bridge Growing Cloud Ops Gap
Env Zero and CloudQuery announced a merger that unites governance‑focused delivery tooling with a normalized, SQL‑queryable data layer for multi‑cloud assets. The deal aims to close the “operational gap” that DevOps teams face between seeing cloud resources and safely remediating...
Linklaters and Freshfields Win €43 B EU Antitrust Clearance for RWE‑E.ON Merger
Linklaters and Freshfields have obtained European Union merger‑control clearance for a €43 billion ($50 billion) asset swap between German energy giants RWE and E.ON. The decision by the EU’s top court ends almost six years of appeals and clears the path for...
L Catterton and Cedar Capital Launch Luxury Hotel JV, Acquiring Two Iconic Properties
L Catterton Real Estate and Cedar Capital Partners announced a strategic joint venture to build a luxury hospitality platform, immediately acquiring the 177‑key Garden Beach Hotel on the French Riviera and the 204‑key Penha Longa Resort near Lisbon. The partnership...
InsideArbitrage Event Driven Monitor – March 27, 2026
The InsideArbitrage Event Driven Monitor highlights a series of high‑profile M&A moves, including the $22 billion merger‑of‑equals between Equitable Holdings and Corebridge Financial, and Henkel's $1.4 billion cash acquisition of Olaplex at a 55% premium. Servier has opened a tender offer for...
The Gravity of Capital: Understanding the Waterfall That Makes LBOs Possible
Leveraged buyouts rely on a strict payment waterfall that prioritizes operating expenses, senior debt, reserves, seller notes, and finally buyer equity. The hierarchy ensures banks’ capital is protected while the entrepreneur’s equity bears performance risk, driving deleveraging through cash‑flow allocations....
Helios Consortium Offer for CAB
On 12 February 2026 the Helios Consortium announced a cash offer to acquire all outstanding CAB Payments shares at US$1.15 per share. The offer is now backed by shareholders controlling roughly 52.7% of CAB’s capital, making it the only firm, deliverable bid...
Falcon Oil & Gas Ltd. – Falcon Provides Update on Transaction with Tamboran
Falcon Oil & Gas Ltd. announced that the British Columbia Supreme Court approved the final order needed to complete its pending transaction with Tamboran Resources, subject to amendments addressing shareholders under sanctions. The court’s decision follows shareholder Lamesa Holding’s opposition...
255: The Rise of Private Markets: Access, Liquidity, and Portfolio Diversification
Private markets are moving from niche institutional holdings into mainstream wealth management as companies stay private longer and financing shifts away from public exchanges. BlackRock’s Head of Product and Alternatives, Jon Diorio, explained that expanded access and advisor adoption are...
EQT‑McKinsey Study Shows European Tech Exodus Wiped Out $1.4 Trillion in Value
Swedish private‑equity firm EQT and consulting giant McKinsey released a study that quantifies a €1.2 trillion ($1.4 trillion) loss in value from European technology companies that have either listed overseas or been acquired by foreign buyers since 2014. The findings highlight a...
MBK Partners Gains Board Seats at Korea Zinc as Management Secures Majority
Korea Zinc's chairman Yun B. Choi led the incumbent team to a de‑facto victory at the March 25 shareholders' meeting, securing nine of 14 board seats. Private‑equity firm MBK Partners, aligned with challenger Young Poong, boosted its representation to five directors,...
Tom Gores Joins Final Four Bidders for San Diego Padres
Detroit Pistons owner Tom Gores has entered the final four bidders for the San Diego Padres as the MLB team's sale narrows. The bid reflects a growing trend of private‑equity‑style investors targeting marquee sports assets.
UpGrad to Acquire Unacademy in All-Stock Deal?
upGrad has signed a term sheet to acquire Unacademy in a 100% share‑swap transaction, creating a combined edtech powerhouse valued at roughly $2.25 billion. The deal follows upGrad’s February acquisition of Internshala and includes a break‑fee to lock in both parties....
JPMorgan Launches $8B Junk‑bond Sale to Fund Record $55B EA Buyout
JPMorgan Chase has opened an $8 billion junk‑bond offering to finance a $55 billion leveraged buyout of Electronic Arts, the biggest LBO‑related high‑yield issuance of 2026. The deal, led by Saudi Arabia’s Public Investment Fund, Silver Lake and Affinity Partners, tests investor...
Sunway's 99.27% Win Clears Path for RM11B Deal
Sunway just crushed the IJM vote with a massive 99.27% win and the MACC finally got off their back. Is this RM11 billion deal unstoppable now? (Save this for later) 1. Shareholders aren't blinking. 2. The MACC drama is over. 3. Take it...
Fixed Costs Exist Whether You Buy or Start
Most businesses feature fixed expenses that need to be paid whether or not they serve a customer. Buying vs Starting a Business https://t.co/W5E0qQGk0q https://t.co/aAKERkVobl
Arizona Sets Pacing Amid ‘Cautious Optimism’ for PE Landscape
Arizona’s state pension fund is adopting a more aggressive stance toward private equity, citing “cautious optimism” about an improving M&A environment. The fund plans to allocate additional capital to capture opportunities in what it describes as a bifurcated market, where...
No Asking Price? It’s Usually a Red Flag
What do I think about businesses for sale with NO asking price? You’ve probably seen them: “Make an offer.” Sounds intriguing… but it’s usually a red flag.
Memory Maker Micron Weighs Buying Shuttered Japan Display Plant
Micron Technology is in talks to purchase Japan Display's shuttered LCD production plant in Chiba, Japan. The U.S. memory maker plans to repurpose the facility for semiconductor chip assembly and testing rather than display manufacturing. Acquiring the site would give...
Vetted $16M HVAC Roll‑Up Offers 30% IRR
"I strongly believe there are many high net worth people in finance (IB, hedge fund, PE, etc) who have a desire to allocate some money to LMM deals/roll-ups but don't feel like they have access to vetted deals." How about an...
Recordati Says It's Received a $12B+ Takeover Bid
Italian pharmaceutical group Recordati announced it has received a takeover proposal valued at more than $12 billion. The bid, disclosed in a press release, comes from an undisclosed consortium of investors. Recordati, known for specialty drugs and generics, said the offer...
Middle East’s Fundraising Oasis Awaits GPs Who Are Willing to Commit
Private equity fundraising in the Middle East is entering a boom, with capital commitments reaching multi‑billion‑dollar levels. Sovereign wealth funds and regional investors are increasingly favoring general partners who demonstrate deep, long‑term commitment to the market. The region’s regulatory reforms...
Streamticker: The Biggest Streaming Mergers and Acquisitions of 2025
The 2025 Streamticker roundup chronicles a wave of high‑value mergers reshaping streaming, advertising, and infrastructure. DIRECTV’s acquisition of INVIDI strengthens addressable TV ad solutions, while Outbrain’s $1 billion purchase of Teads creates a $1.7 billion omnichannel ad platform. DAZN’s $2.2 billion buy of...
Collectly Acquires AI Automation Startup Pledge Health to Streamline Pre-Service Workflows
Collectly, an AI‑driven patient financial platform that has processed over $1 billion for more than 3,000 facilities, announced the acquisition of Y Combinator‑backed Pledge Health. The deal adds upstream pre‑service automation—coverage verification, cost estimates, and prior‑auth readiness—to Collectly’s existing post‑visit billing suite....
Healthcare-Focused PE Firm Linden Mulls Secondaries Strategy
Chicago-based private equity firm Linden, which specializes in healthcare investments, is evaluating a move into the secondary market. The firm joins a wave of buyout houses expanding into secondaries to tap growing demand for liquidity among limited partners. By leveraging...
BCRED Issues CLO Following Redemptions, Turbulence in NAV
BCRED, a business development company, issued a new collateralized loan obligation (CLO) to shore up its balance sheet after a wave of investor redemptions. The move follows a 0.4% drop in February NAV, marking the BDC’s first monthly loss in...
Blacklane: The Yin to Uber’s Yang?
Uber is reportedly close to acquiring premium chauffeur service Blacklane for roughly $1.03 bn, a move that would add a high‑margin, pre‑booked offering to its portfolio. Blacklane operates in about 500 cities across more than 50 countries, serving business and luxury...
Women’s Health Ripe for Private Equity Investments, Finds Kearney’s Paula Bellostas Muguerza
Private equity firms are increasingly targeting women's health, a sector seen as under‑capitalized and high‑growth. The $18.3 billion Blackstone‑TPG take‑private of diagnostic‑equipment maker Hologic is being cited as a bellwether transaction. Analysts at Kearney, led by Paula Bellostas Muguerza, argue that fragmented...
Sources: $37B Allworth Exploring Majority Stake Sale
Allworth Financial, a California‑based registered investment advisor with roughly $36.5 billion in client assets, is exploring a sale of its majority stake held by Lightyear Capital and the Ontario Teachers’ Pension Plan. The firm has hired William Blair to lead the transaction....
Blackstone Invests $250m Into UAE Payments Infrastructure Platform
Blackstone has pledged a $250 million investment into Advanced Digital Gaming Technology, a newly launched UAE‑based payments and data‑intelligence platform. The capital injection is aimed at scaling the firm’s infrastructure to support faster, more secure digital transactions across the Gulf. Blackstone’s...
Alba Tankers Gets New Owners
Denmark‑based shipping firm Alba Tankers has been acquired by Zeaside Capital Partners, which partnered with Danish and international investors to take control. The transaction adds Alba’s nine sub‑20,000 dwt vessels and its Gothenburg‑based commercial platform to Zeaside’s portfolio, giving the newly‑formed...
Loan Note: Fund Structuring Under Scrutiny; LPs Reveal Strategic Preferences
The latest Loan Note briefing highlights growing scrutiny over fund structuring, with mis‑selling and mis‑structuring flagged as core concerns for retail‑focused private debt vehicles. Regulatory attention is intensifying, prompting managers to reassess compliance and disclosure practices. Meanwhile, Blue Torch announced...
Private Markets Igniting: Misconceptions Mask Looming Liquidity Risk
Lloyd Blankfein to Bloomberg about "fire" risk in private markets: "At some point there needs to be a forcing function or a reckoning that causes you to come to grips with what your balance sheet really is worth...The analogy I...
Pernod Ricard Mulls Buying Jack Daniel’s Owner Amid Downturn
Bloomberg: "Pernod Ricard is exploring a potential acquisition of Brown-Forman, the owner of Jack Daniel’s whiskey, as alcoholic drink companies look at ways to consolidate amid an industry downturn, people familiar with the matter said. They have held some initial...
Synergy Sports Capital Snaps up League One Volleyball Salt Lake
Synergy Sports Capital announced the acquisition of League One Volleyball Salt Lake, a U.S.-based professional youth volleyball league. The deal adds a fast‑growing grassroots sport platform to Synergy’s portfolio of sports‑focused investments. League One Volleyball currently operates in multiple states,...