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.
Shein Moves to Acquire Everlane for $100 Million, Backed by L Catterton
Shein is set to buy San Francisco‑based sustainable apparel brand Everlane for about $100 million, a deal approved by Everlane’s majority owner, private‑equity firm L Catterton. The transaction pits the ultra‑fast‑fashion giant against a brand built on radical transparency, raising questions about the future of ethical fashion and the role of PE sponsors in distressed retail deals.
Brink’s Completes $1.5 B Buyout of NCR Atleos as GlobeFlex Exits Stake
Brink’s has closed a $1.5 billion buyout of NCR Atleos, paying $30 in cash plus 0.1574 Brink’s shares per Atleos share. At the same time, GlobeFlex Capital sold its entire 250,950‑share position for an estimated $10.37 million, wiping out its 3.8% AUM...
SK Capital Partners Takes Hold of Brothers International
SK Capital Partners has acquired Brothers International Food Holdings from Benford Capital, though financial terms were not disclosed. Founder Travis Betters will stay on as president and CEO while retaining a significant equity stake. The deal positions SK Capital to...
A New Mega-Deal Shows How AI Has Turned Utilities Into Hot Property
NextEra Energy, the world’s largest listed utility, announced a deal to acquire Virginia‑based Dominion Energy, which supplies power to the globe’s biggest data‑center cluster. The merger reflects a surge in electricity demand driven by artificial‑intelligence workloads and positions NextEra to...
PE-Backed Authentic Brands Group to Acquire Denim Brand Lee
Authentic Brands Group, a private‑equity‑backed brand and entertainment platform, announced the acquisition of iconic denim label Lee. While financial terms were not disclosed, the deal adds Lee to ABG’s expanding apparel portfolio that already includes Wrangler and other heritage brands....
South African Billionaire Telecoms Brothers Reveal What Went Wrong with Cell C
South African billionaire brothers Brett and Mark Levy, co‑CEOs of Blu Label, explained that mis‑aligned leadership at Cell C, not the acquisition price, caused the telecom’s decline after Blu Label bought a 45% stake in 2017. They acknowledged that frequent...
Fat Brands to Be Sold to Multiple Buyers for Nearly $1B
Fat Brands, the owner of restaurant chains such as Round Table Pizza and Twin Peaks, has received court approval for a series of asset sales that total nearly $1 billion. Hot Dog on a Stick and Elevation Burger were sold for...
Equity Residential to Acquire AvalonBay Communities for $34.91 Billion
Equity Residential announced a definitive all‑stock merger to acquire AvalonBay Communities for $34.91 billion, the largest multifamily REIT combination to date. AvalonBay shareholders will receive 2.793 Equity Residential shares per AvalonBay share, valuing each at $185.12 and giving them a 51.2%...
James Murdoch's Lupa Systems Pays Over $300 M for Half of Vox Media, Including New York Magazine
James Murdoch’s Lupa Systems has agreed to purchase roughly half of Vox Media – New York Magazine, Vox.com and the Vox podcast network – in a deal valued at over $300 million. The transaction, advised by LionTree, signals a major media consolidation...
Nexstar Appeals Judge’s Injunction Halting $6.2 B Tegna Merger
Nexstar Media Group filed an expedited appeal with the Ninth Circuit on Wednesday, challenging a federal judge’s preliminary injunction that freezes its $6.2 billion acquisition of Tegna. The company argues the order overreaches, threatens local journalism and inflicts unrecoverable harm while...
S&P Lowers Paramount's Credit Rating to BB Ahead of Warner Bros. Merger
S&P Global Ratings announced it will downgrade Paramount Skydance's issuer rating from BB+ to BB once the Warner Bros. Discovery acquisition closes. The move reflects a projected leverage ratio of 7.6x and uncertainty over integration, cost synergies and a fragmented...
NextEra Energy to Acquire Dominion Energy in $66.8 B All‑Stock Deal
NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at $66.8 billion, creating the largest regulated electric utility in the United States. The deal, which gives NextEra a 74.5% stake and Dominion shareholders 25.5%, is being hailed as a strategic...
Barings Brings in over $19bn for Global Direct Lending Strategy in Two-Year Fundraise
Barings announced it has secured more than $19 billion in committed capital for its Global Direct Lending strategy after a two‑year fundraising effort. The capital will be deployed to finance middle‑market companies worldwide, expanding Barings' private credit platform. This raise positions...
PE Turns to “CV Squared” Structures as Exit Headwinds Keep Assets in Extended Holding Cycles
Private‑equity firms are increasingly using multi‑layer continuation vehicles, dubbed “CV squared,” to keep assets in extended ownership as traditional exits stall. The approach recycles assets from one continuation fund into another, effectively resetting holding periods rather than realizing sales or...
Deal Lawyers Download Podcast: SRS Acquiom Annual M&A Deal Terms Study
The Deal Lawyers Download Podcast featured Kip Wallen discussing SRS Acquiom’s 2026 M&A Deal Terms Study. In a 20‑minute episode, the hosts highlighted emerging patterns such as the rise of “jumbo” transactions, evolving earnout structures, and shifts in purchase‑price adjustments....
Pantheon’s Hassanally: Debut CFO Unlocks Secondaries for Constricted Investors
Pantheon announced the appointment of Amyn Hassanally as its debut chief financial officer, tasking him with expanding the firm’s secondary‑market capabilities. Within months, Hassanally helped launch a $1 billion secondary fund designed to give insurance companies a pathway back into private‑equity...
Sun Communities Agrees £768m Sale of UK Assets to Aermont
Sun Communities has agreed to sell its United Kingdom manufactured‑home and RV assets to Aermont for £768 million, roughly $975 million. The deal will transfer more than 5,000 sites to the British investor. Proceeds from the transaction will be redeployed into Sun’s...
Deconstructing Medtronic's 2026 M&A Playbook
Medtronic has moved from operational stabilization to an aggressive 2026 M&A strategy, spurred by governance reforms and the creation of Growth and Operating Committees. The company raised $784 million from the MiniMed IPO, simplifying its portfolio, and announced three acquisitions—CathWorks, Scientia...
Singtel Open to Selling "Meaningful Minority Stake" In Optus
Singtel announced it is open to selling a meaningful minority stake in Optus to a strategic Australian partner, while reaffirming its long‑term commitment to the Australian market. Optus reported 2.1% revenue growth to A$8.34 bn (≈US$5.5 bn) and a 6% EBITDA increase...
Eraneos Acquires Dutch AI Consultancy DEUS to Expand Data and Digital Transformation Services
Eraneos announced the purchase of DEUS, a Dutch AI and data consultancy with about 100 staff, to deepen its AI‑driven transformation services across Europe. The deal adds a new AI centre of excellence and reinforces Eraneos' push to become an...
The Wolf of Broad Street
James Murdoch announced a $300 million-plus acquisition of New York, the Vox Media Podcast Network, and Vox.com, creating a new Vox Media subsidiary under his Lupa Systems vehicle. The deal keeps current CEO Jim Bankoff at the helm to guide the integration. This...
TSCP‑Backed PestCo Acquires University Termite & Pest Control to Bolster Arizona Footprint
PestCo Holdings, the Thompson Street Capital Partners‑backed platform, has purchased Tucson‑based University Termite & Pest Control, adding residential and commercial service capabilities to its Southwest operations. The deal, whose financial terms were not disclosed, underscores a wave of private‑equity‑driven roll‑ups...
NTT DATA Signs Deal to Acquire WinWire, Adding 1,000 Azure Engineers
NTT DATA announced a definitive agreement to acquire WinWire, a Santa Clara‑based Microsoft partner. The transaction will add more than 1,000 Azure engineers and dozens of specialized certifications, positioning NTT DATA to scale enterprise AI on the Microsoft stack. The deal,...
Caisse De Dépôt Unit to Acquire Digital Services Firm ISC for $1.2 Billion
A subsidiary of Quebec's Caisse de dépôt et placement du Québec has agreed to purchase Information Services Corporation for $1.2 billion. The deal, announced on June 8, 2026, signals a growing appetite among pension funds for large‑scale tech‑services acquisitions.
Analog Devices to Acquire Empower Semiconductor for $1.5 B, Expanding AI Power Portfolio
Analog Devices (ADI) agreed to purchase Empower Semiconductor for $1.5 billion in cash, a move designed to broaden ADI’s high‑density power‑management portfolio for AI‑driven compute. The deal positions ADI to deliver power conversion closer to processors, shortening delivery paths and improving...
GameStop Ups Its Stake in eBay After Its Buyout Bid Was Rejected
GameStop raised its eBay ownership to roughly 6.55%, up from about 5% earlier this month. The increase follows a rejected unsolicited $56 billion takeover proposal for the online auction giant. The new stake reflects both common stock and underlying put/call option...
Top 3 SPAC Targets – EV Makers
The SPAC market is heating up as three EV makers emerge as prime targets: Slate, Longbow Motors, and Jaguar Land Rover. Slate, backed by Jeff Bezos, plans a sub‑$20,000 pickup after raising roughly $2.05 billion. Longbow is launching ultra‑light, two‑seat sportscars...
ACP-Backed Marco Snaps up Pride Seals
Marco, a specialty component maker of rubber, plastic, and metal parts, announced the acquisition of Pride Seals, a provider of sealing solutions. The deal is backed by private‑equity firm ACP, which has been actively investing in industrial manufacturers. By adding...
James Murdoch Buys up Half of Vox Media, Grabbing New York and Podcasts, but Leaving The Verge and SB Nation
James Murdoch, through his holding company Lupa Systems, is paying more than $300 million to acquire a 52% stake in Vox Media. The purchase gives him control of New York Magazine and its verticals—The Cut, Vulture, Intelligencer, The Strategist, Curbed, Grub Street—and the...
GP Stake Sales Boom Raises Fund Diligence Questions
The market for private‑equity GP‑led stake sales is accelerating, with minority‑interest transactions surging as firms seek liquidity and capital for new deals. Investors are increasingly buying into GP ownership, often through secondary‑market platforms, creating a parallel market to traditional fund...
CCI Clears Blackstone’s Investment In AI Cloud Startup Neysa
Blackstone, via affiliates BCP Asia II Topco V and Asia II Topco XIV, received Competition Commission of India approval to acquire a controlling stake in AI‑cloud startup Neysa Networks. The deal comprises a $1.2 bn financing package—$600 mn equity led by Blackstone...
Value, Focus, and the Future of MedTech: M&A and Divestitures Are Rewriting the Strategic Playbook.
MedTech firms are reshaping portfolios by prioritizing market access, turning it into the primary driver of mergers, acquisitions and divestitures. Leaders now evaluate assets on reimbursement certainty, evidence strength and ASP durability rather than pure innovation. High‑profile deals such as...
CalPERS Board Delays Vote as Senate Kills Private‑Equity Disclosure Bill
The CalPERS board postponed its scheduled vote on SB 1319 after the Senate Appropriations Committee placed the private‑equity disclosure bill on a suspense file, effectively killing it. The move averts a projected $6‑7 billion annual increase in employer contributions and a 5%...
Beach Energy Positions Itself as M&A Magnet After Australia’s Domestic Gas Mandate
Beach Energy Ltd., valued at A$2.6 billion ($1.8 billion), says the new Australian policy requiring gas producers to retain a share of output for domestic use makes it a prime takeover target, especially for export‑focused rivals on the east coast.
La Caisse and Vita Set to Buy PBSA Portfolio with Nearly 3,200 Beds
French pension fund La Caisse and UK student‑housing specialist Vita have agreed to purchase a private‑backed student accommodation (PBSA) portfolio from DWS. The assets comprise roughly 3,200 beds spread across Manchester, Glasgow, Edinburgh, Leeds, Birmingham and Newcastle. The transaction expands...
Debtwire Middle-Market – 5/18/2026
Leveraged buyout (LBO) activity surged to $17.9 bn in March, the strongest monthly total since September 2021’s $22.8 bn peak. The spike lifted LBO‑driven loans to nearly half of the $37 bn institutional leveraged‑loan issuance for the month. The uptick comes amid lingering macroeconomic...
Brightstar Deploys Private‑Equity Capital Into Simon Eye Ophthalmology Platform
Brightstar Capital has invested in Simon Eye, an emerging ophthalmology platform, marking another private‑equity entry into health‑tech. While the financial terms were not disclosed, the deal signals continued PE focus on specialized medical software amid rising demand for digital eye‑care...
AI Consolidation Begins: Blackstone & Google Forge an AI Empire
Private‑equity giant Blackstone and Alphabet’s Google have launched a $5 billion equity‑financed joint venture to build a U.S. AI cloud platform, targeting 500 MW of capacity by 2027 and offering Google’s Tensor Processing Units as a compute‑as‑a‑service. The partnership creates a debt‑free,...
Ridgely Walsh Works James Murdoch's NY Mag Deal
James Murdoch’s investment vehicle Lupa Systems, represented by Ridgely Walsh, has acquired New York Magazine, the Vox Media Podcast network and other digital assets from Vox Media. The newly purchased properties will operate as a Vox Media unit under Jim Bankoff. Lupa’s...
Unlock $1‑10M Deals Through Overlooked Accountants
The best $1-10M EBITDA deals exist where others are not looking... Hint: accountants What can Joshua Friedman of Canyon Partners and Bowles Hollowell Conner & Co., the lower middle market investment banking firm, teach you about creative sourcing? Timestamps: 0:00 Great sourcing comes from...
Blackstone and Google Commit $5 B to Launch U.S. AI‑Chip Company Focused on TPUs
Blackstone announced a $5 billion equity commitment to a joint venture with Google that will create a U.S. company offering compute‑as‑a‑service using Google’s Tensor Processing Units. The venture aims to bring 500 MW of data‑center capacity online in 2027, positioning private‑equity at...
Hema Co-Financed Its Own Acquisition
Hema helped finance its own takeover by granting a €60 million (≈ $65 million) loan to Mississippi Ventures, the Van Eerd family’s investment vehicle. The loan allowed the family, already holding 50% of Hema, to purchase the remaining stake from Amsterdam‑based Parcom, completing the...
GHO Capital and CBC Group Merge Into $21bn Healthcare Giant
GHO Capital and CBC Group merge to form $21bn healthcare investment giant Read the full report here: https://t.co/WWolB4Y7Ji https://t.co/AmN2cR8gvY
.png)
DealRoom Launches the Only MCP Built for Buyer-Led M&A™ so M&A Teams Can Work Faster, Analyze Smarter, and Close Better...
DealRoom announced the launch of DealRoom MCP, a Model Context Protocol‑based connector that lets AI engines such as OpenAI’s ChatGPT, Anthropic’s Claude and Microsoft Copilot read and write live deal data inside the platform. The private‑beta solution removes the need...
Lilly Snaps up Engage to Advance Non-Viral Genetic Medicines
Eli Lilly agreed to acquire Engage Biologics for up to $202 million in cash, adding the company’s non‑viral DNA delivery platform called Tethosome. The technology combines lipid‑nanoparticle shells with an mRNA‑encoded transport protein to move genetic payloads into cell nuclei without viral vectors....
DCC Plc Update – Starting the “Intertek Dance” ?
Two weeks after a £58 ($74) per‑share bid from KKR on DCC Plc was deemed too low, Bloomberg and Reuters report that KKR and its partner are preparing a sweetened offer. The situation mirrors a recent "dance" at Intertek Plc,...
Big Europe and Asian Private Equity Health Funds Merge to Defy AI Disruption
European health‑focused private equity giant EurHealth Capital and Asian counterpart AsiaMed Partners announced a merger that creates a $11 billion health‑care fund, the largest cross‑regional private equity vehicle of its kind. The combined entity will pool €9.5 billion (≈$10.3 billion) of committed capital...
Report: Charlotte Tilbury Complicates Estée Lauder-Puig Merger Talks
Charlotte Tilbury is demanding a renegotiation of the buyout terms for her eponymous cosmetics brand, which Puig acquired for $1.2 billion in 2020. The request threatens to complicate Puig’s planned merger with Estée Lauder Companies, as a change‑of‑control clause could trigger...
Full-Life Technologies Secures $150 Million Series D to Scale Radiotherapeutics Platform
Full-Life Technologies closed a $150 million financing package—$110 million in Series D equity and $40 million in debt—led by Vivo Capital and a slate of strategic investors. The capital will accelerate its alpha‑emitting radiotherapeutics pipeline and bring a GMP‑grade manufacturing site in Belgium online,...
NextEra Energy to Acquire Dominion in $67 B Deal Targeting AI Data‑Center Power
NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at roughly $67 billion, forming the world’s biggest regulated electric utility. The merger, driven by exploding AI data‑center power needs, will give the combined firm a market cap of about $249 billion...