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.
ArcLight to Buy InfraBridge’s Stake in North American Power Assets
ArcLight Capital Partners has agreed to buy InfraBridge’s 50 % stake in the Invenergy‑managed AMPCI Thermal Power (IATP) portfolio, a collection of 11 power generation assets delivering about 5.4 GW across North America. Invenergy will retain its ownership share and continue operating the facilities, which include combined‑cycle plants in Washington, Pennsylvania, Illinois and Ontario. The transaction, valued undisclosed, is expected to close in the second half of 2026 pending regulatory approval. Financial advisers BofA Securities and Morgan Stanley are representing InfraBridge and ArcLight respectively.
Private Equity Hitting High Multiples in Data Center Refrigeration and Structural Design Plays, Says Lincoln International
Lincoln International’s analysts Guillaume Suizdak and Juan Carlos Montoya note that private equity is paying record‑high multiples for companies involved in data‑center refrigeration and structural design. The HVAC sector is benefiting from a convergence of cloud‑driven data‑center expansion, stricter sustainability...
Arctos Talks up “Larger” League and Global Opportunites After KKR Deal
Arctos Partners has completed a $1.4 billion sale to private‑equity giant KKR, integrating its sports‑focused investment platform into KKR’s broader portfolio. Historically, Arctos allocated 80% of capital to minority stakes in U.S. franchises, but the partnership will pivot toward larger opportunities...
‘Time-Is-of-the-Essence’ Clauses in Private M&A Agreements
The Delaware Supreme Court’s *Thompson Street Capital* ruling applied the equitable doctrine “common law abhors a forfeiture” to a seller’s failure to meet notice‑of‑claims deadlines in a private‑company merger. In response, researchers found that roughly 20% of 4,200 examined private...
Mark Connelly on Why Every Miner Is for Sale
In this episode Mark Connelly discusses his reputation as a "for‑sale" board member, explaining that every mining company ultimately seeks a willing buyer and that his role is to maximize shareholder value through strategic exits or growth. He outlines how...
Quincy Jones’ Estate Sells Catalog, Including Stake in Michael Jackson Classics
Quincy Jones' estate has sold his extensive music and publishing catalog to HarbourView Equity Partners, encompassing his production stakes in Michael Jackson’s Off The Wall, Thriller and Bad, as well as iconic compositions like “Soul Bossa Nova,” “Give Me the Night,”...
AI Enabled Speech Therapy & Clinical Services Platform in Northern California
Prime exits® and American Healthcare Capital are marketing a fully integrated AI‑driven speech‑therapy platform in Northern California. The business combines a proprietary assessment and autism‑intervention suite funded by over $2.28 million in federal and corporate grants with a profitable clinical services...
$3.3 Million Revenue Successful Full-Service Ophthalmology Practice Based in Southern California
A full-service ophthalmology practice in Southern California is listed for $4.5 million, projecting $3.3 million revenue in 2026. The practice delivers a balanced mix of exams, surgeries and in‑office procedures, with a 4.1‑4.2 star patient rating and strong referral networks. After recent...
Great Range Launches Industrial Compliance Platform
Great Range Capital has appointed Ryan Moody to lead a search for a new industrial compliance platform, with Gary Baughman joining as executive chairman. The strategy focuses on acquiring fragmented, founder‑led service providers that deliver compliance, safety, environmental, testing, certification,...
Niche Holding Firm Commands 65x P/E via Dominant Acquisitions
There’s a niche holding company trading at roughly 65x earnings (2025 numbers: $234 million in net sales and $38 million in EBITA). The company focuses exclusively on acquiring and developing industrial and service businesses in narrow market niches. Its acquisition criteria are...
The Case of New Mountain, Holt and the $30bn-Plus Deal
New Mountain Capital and Holt Capital have orchestrated a landmark transaction exceeding $30 billion, marking one of the largest GP‑stake sales in private equity history. The deal involves Holt acquiring a substantial portion of New Mountain's general partner interests, providing immediate...
7 Reasons Organizations Merge with or Acquire Other Firms
The article outlines seven common reasons companies pursue mergers or acquisitions, emphasizing growth as the overarching motive. It cites a 2020 survey where 34 % of firms prioritized growth, and notes that cross‑border deals reached nearly $500 billion in 2019. The piece...
Conflict of Interest Concern: Valuation of a Loan by the Borrower
A conflict‑of‑interest issue has emerged around the valuation of loans in Blue Owl’s business development company (BDC) portfolio. The valuations were performed by Kroll, a firm with close ties to Deerfield, one of the borrowers in the portfolio. Critics argue...
The Next Step for GP-Led Deals
The PEI Group’s GP‑led Secondaries report highlights rapid growth in the GP‑led segment, noting a 45% year‑over‑year increase in transaction volume during 2023. It outlines how general partners are leveraging continuation funds to retain control of high‑performing assets while offering...
Private Credit's Low Multiples Raise Concerns for Later Creditors
I've never quite understood this either. Private credit is first in line during liquidations and they often lend 0.5x to 2.0x ARR when the transaction happens. After a few years of growth that's often <1x ARR and probably...
Cross-Border PE Flows Are Reshaping the Global Deal Landscape
A 25‑year study shows a structural shift in cross‑border private‑equity flows. In 2016 foreign inbound deals to the United States jumped 32% while U.S. outbound activity fell 19%, marking the first convergence of the two series. The 2021 surge was...
Warburg Pincus Explores Sale or Partnership for Southeast Asian Insurer Oona
Warburg Pincus is working with Citigroup to explore a sale or strategic partnership for Oona, its Southeast Asian digital insurer. The potential deal could value Oona at several hundred million dollars, though discussions are still early and may not materialise....
Structured Solutions Offer Ability to Keep Assets Within Flagships: W Capital’s David Wachter
At NEXUS 2026, David Wachter of W Capital Partners highlighted the strategic value of structured solutions. He argued that keeping assets within flagship funds allows compounding growth and reduces exposure to a projected “K‑curve” market environment. The K‑curve scenario suggests...
I Squared Capital Nears $10bn for Flagship Infrastructure Fund Amid Sector Boom
I Squared Capital is close to securing roughly $10 billion for its flagship infrastructure fund, representing about two‑thirds of its $15 billion target as the first closing approaches. The fundraising surge mirrors a broader surge in private‑equity‑driven infrastructure capital, with global funds...
Acquirers Are Already Courting Sellers—Be the Next Buyer
9 million businesses changing hands this decade the acquirer in your market is already calling owners already signing NDAs already in due diligence the sellers they close with this year were always going to sell to someone the only question was whether that someone was you
Operational Expertise Drives Speyside’s $1B Lower‑middle‑market Success
My conversation with Eric Wiklendt of Michigan based Speyside Equity. We discuss his journey and how the private equity firm has built a reputation as a highly operational lower-middle-market investor with close to $1B AUM, 38 total investments across 20 platforms,...
General Atlantic Enters Secondaries Market in Partnership with Clipway
General Atlantic announced a strategic entry into the secondaries market through a partnership with Clipway. The joint venture aims to raise a $1 billion fund dedicated to growth‑equity and late‑stage venture capital secondary transactions. By leveraging Clipway’s technology platform, the partnership...
Private Equity Set to Reclaim SaaS Amid AI Wave
Private equity is about to eat its own software portfolio PE built the SaaS installed base by pushing cloud software into portfolio companies a decade ago. Now AI gives them a reason to rip it back out w/ @jaswu_ https://t.co/70prLKAdaG
Atomico's Crunchbase Engine Generates One‑Third New Deals
How does @atomico scale data-driven venture investing across Europe? By integrating Crunchbase data into sourcing and diligence workflows. 💪 Today, 1 in 3 net-new opportunities in its pipeline originates from its data engine, with Crunchbase as the data backbone. 🔗: https://t.co/zf1JHLNAqP
Sycamore Partners Names New Senior Advisor
Sycamore Partners has hired former Marks & Spencer CEO Archie Norman as a senior advisor. Norman will help manage existing portfolio companies and scout fresh investment opportunities across the UK and broader European consumer and retail markets. The appointment follows...
Blackstone and Hellman & Friedman Explore AI Joint Venture with Anthropic
Blackstone and Hellman & Friedman are negotiating a joint venture with Anthropic to embed the startup’s generative‑AI technology across their private‑equity portfolios. The partnership would follow a Palantir‑style model that blends software licensing with consulting services to accelerate AI adoption...
More on the New CDIs on Cross Border Tender Offers
The SEC issued new CDIs 166.02 and 166.03 that broaden exemptions for cross‑border tender offers. CDI 166.02 allows offerors to buy target shares after announcing a tender but before distributing offering documents, provided the purchases are disclosed and may continue...
Auréa’s Aparna Aiyar: Eyes on Beauty Carve-Outs and Founder-Led Brands
Auréa’s partner Aparna Aiyar highlighted the growing resilience of the beauty sector, noting its outperformance of broader consumer‑discretionary categories despite macro headwinds. She emphasized a strategic focus on beauty carve‑outs and founder‑led brands as attractive investment opportunities. The segment’s low...
Papa John’s Draws Fresh Takeover Interest From Qatari-Backed Fund
A Qatari‑backed investment vehicle, Irth Capital Management, has submitted a bid to take Papa John’s International private, with financial backing from Brookfield Asset Management. The pizza chain’s market value hovers around $1 billion, making it an attractive target for a leveraged...
Elaia Closes Third DeepTech Seed Fund at €134 Million as “European DeepTech Is Reaching Escape Velocity”
Paris‑based venture capital firm Elaia has closed its third DeepTech Seed fund (DTS3) at €134 million, twice the size of its prior funds. The fund, backed by a mix of long‑standing and new investors such as PSL Université, INRIA, Bpifrance and...
Alex Behring and Daniel Schwartz on Why 3G Capital’s Model Is Rewriting the Rules of Private Equity
Alex Behring and Daniel Schwartz detailed 3G Capital’s unconventional private‑equity playbook on the *Invest Like the Best* podcast. The firm concentrates on a single, large‑scale acquisition per fund, with partners committing personal capital and never having lost money on a...
Weinstein ‘Buying Pessimism’ With Discount Private Fund Bids
Boaz Weinstein is targeting the current turmoil in private credit by extending discounted bids to investors seeking to exit distressed funds. JPMorgan’s recent decision to curb lending to software‑focused credit firms, citing AI‑related risk, has amplified market stress and forced...
Dow Slides 300 Points as Oil Prices Move Higher Again Amid Iran Conflict: Live Updates
The Dow Jones Industrial Average slipped roughly 300 points as oil prices surged toward $90 a barrel amid heightened Iran‑Israel tensions. The International Energy Agency announced a record release of 400 million barrels to cushion supply disruptions, further fueling market volatility....
The Pulse of Private Equity – 3/9/2026
The Pulse of Private Equity (3 Sept 2026) highlights a pronounced shift in BSL‑funded leveraged buyouts as sponsors confront tighter debt capacity. A decade‑long chart shows debt‑to‑EBITDA ratios falling while equity contributions climb, compressing overall EV/EBITDA multiples. Sponsors are increasingly allocating equity...
Serial Acquirer’s Playbook: 35 Deals in $50‑500M Manufacturing
Traveled to a Serial Acquirers conference in Stockholm, Sweden. The wifi at the hotel is slow, so it takes a little longer to upload the podcast episode with Eric Wiklendt of Speyside Equity, where he shares how they’ve acquired over 35...
Leveraged Loan Insight & Analysis – 3/9/2026
US leveraged finance issuance exceeded $160 bn in February 2026, but slipped 11 % from January. Bank loans rebounded to $50 bn after a slower month, while high‑yield bond issuance held steady at $30 bn. Institutional loans, the bulk of the market, fell sharply...
Lindsay Goldberg Plots Build-Out of CV Investment Strategy
Lindsay Goldberg announced plans to develop a dedicated corporate‑venture (CV) investment strategy, marking its entry into the private‑equity secondaries market. The move aligns the firm with a wave of PE houses diversifying into secondary transactions to capture liquidity‑driven opportunities. By...
Bloomberg: Leveraged Lending Insights – 3/9/2026
The Bloomberg US Leveraged Loan Index (LOAN) recorded a -0.86% return in February, marking the first consecutive monthly decline since April 2025. Secondary‑market prices slipped to 94.89 on February 27, a 204‑basis‑point drop from the year‑end level of 96.93. The...
Wisconsin Credit Union to Buy Local Bank
Milwaukee‑based Landmark Credit Union announced it will acquire American National Bank‑Fox Cities, adding $419 million in assets and two branches to its $7 billion portfolio. The transaction, the fifth credit‑union‑bank deal this year and the third full‑bank purchase, is slated to close...
Chimney Rock Buys Gas Clip Technologies
Chimney Rock, a private‑equity firm focused on industrial services, announced the acquisition of Gas Clip Technologies, a provider of portable gas detection solutions. The deal adds a safety‑technology platform that serves industrial, marine, utility, refining, chemical processing, and water‑wastewater markets....
Edmond De Rothschild Corporate Finance and Jasmin Capital Form Partnership for CVs
Edmond de Rothschild Corporate Finance has teamed up with placement agent Jasmin Capital to launch a joint initiative targeting co‑control transactions. The partnership will concentrate on General Partners who wish to sell a portion of their fund stakes through M&A...
US Billionaire David Storch Is Preferred Bidder for Sheffield Wednesday
US billionaire David Storch’s consortium has been named the preferred bidder for Sheffield Wednesday, outbidding former Newcastle owner Mike Ashley and other suitors. The club has been in administration since October and faces a further 15‑point deduction if a £15 million...
Scale Your Service Business with No‑money‑down Acquisitions
work with me and scale your traditional service based business via no money down acquisitions: expand your multiple and step into building a portfolio: https://calendly.com/josh-joshli/m-a-private-advisory
SPACs Flood Market as IPOs Raise $11.7 B
After a flurry of IPOs that raised $11.7 billion this year, a new crop of blank-check firms are joining a long queue: all the other vehicles waiting for the chance to take a company public https://t.co/LpBCk25L1r
Aspen Insurance CIO Aileen Mathieson Departs
Aspen Insurance announced that Chief Investment Officer Aileen Mathieson is leaving the firm. The Bermuda‑based specialty insurer, which manages a $6.9 billion investment portfolio, was recently acquired by Japan’s Sompo Holdings. Mathieson's departure comes as the new ownership begins integrating Aspen...
Micro‑PE Activity Spikes as Papa John’s Gets Bid
Nice to see small cap Papa John's $PZZA catch a bid. Small and micro private equity is getting much more active. Discl. Long. https://t.co/jxtCUCCgCr
Predict Private Market Risks and Opportunities Faster with Crunchbase
Want to spot opportunity and risk earlier in private markets? 🔍 Join us for a webinar on March 19 to see how Crunchbase’s predictive intelligence in @Snowflake helps teams uncover opportunity, anticipate risk, and move faster. Don’t miss out. Register. 🔗: https://t.co/H3DbOOIzht
Brookfield Explores $1.3bn Acquisition of EQT and PAI-Backed World Freight Company
Brookfield Asset Management is exploring a $1.2‑$1.3 billion acquisition of World Freight Company and has begun informal talks with lenders about financing. World Freight, founded in 2004, runs air‑cargo sales and service agencies in about 80 countries, managing over three million...
Why Middle-Market Deals Fail After the Term Sheet
Middle‑market M&A deals often unravel after the term sheet when due diligence uncovers gaps in EBITDA assumptions, contract assignability, and operational compliance. The article outlines five recurring post‑LOI breakdowns, including fragile financing and seller unpreparedness, that can derail transactions despite...
Transparent Deal Journey: Real Client Success Steps
Mike’s actual path to a successful deal without lies and/or hype. This is a real journey of a client spelled out step by step. https://t.co/rCbnSHUqpo #SmallBusiness & Deal Making #SMB https://t.co/aObkNecA7n