Investor Intentions: GEPS to Consider New Buyout Funds
The Government Employees Pension Service (GEPS), South Korea’s largest public pension fund, announced plans to allocate between $150 million and $200 million to private‑equity buyout funds in 2026. The earmarked capital will be deployed across multiple buyout vehicles, signaling a strategic tilt toward mature‑stage investments. GEPS’s commitment follows a broader regional trend of pension funds increasing exposure to private equity for higher returns. The move underscores the fund’s intent to diversify its portfolio amid low‑yield public markets.
CVC Injects €210m Into Lipton
CVC Capital Partners is injecting roughly $229 million into Lipton to shore up liquidity after the tea brand’s $4.9 billion buyout from Unilever. The maker of PG Tips remains burdened with about $3.5 billion of debt, a term loan that now trades at 71¢...
Bloomberg: Leveraged Lending Insights – 4/27/2026
U.S. leveraged loan issuance slipped to $25.06 b in April, a 15% decline from March’s $29.6 b. The slowdown marks the lowest monthly issuance since April 2025, when $7.9 b were priced after the “Liberation Day” tariffs. The trend reflects a broader pullback in...
Side Letter: Lazard’s CL Coup
Lazard has teamed up with Campbell Lutyens to launch a joint capital‑raising advisory platform, targeting mid‑market private‑equity sponsors seeking limited‑partner commitments. The partnership leverages Lazard’s global advisory reach and Campbell Lutyens’ fundraising expertise to capture a larger share of the...
Business Services Attractiveness, Grade-B Portco Exits Are Top of Mind at DealMax; Macquarie-Led Group Exits Cleco to Stonepeak and Bernhard...
DealMax 2026’s weekly companies‑for‑sale update highlighted a surge in interest for business‑services firms and a noticeable uptick in grade‑B portfolio company exits. The centerpiece was Macquarie’s sale of Louisiana electric utility Cleco to Stonepeak and Bernhard Capital for roughly $4.5 billion....
JSW One Buys Pidilite Ventures-Backed Proptech Startup BuildNext
JSW One Platforms, the B2B ecommerce arm of the JSW Group, announced the acquisition of proptech startup BuildNext through a share‑swap with Pidilite Ventures. The transaction, valued at a mutually agreed price, also brings an additional ₹22 Cr (≈$2.6 M) investment from...
Apollo-Backed Tenneco Prepares IPO that Could Value Auto Supplier at Around $14bn
Apollo‑backed Tenneco is preparing an IPO that could value the auto parts maker at about $14 billion. Apollo bought Tenneco in 2022 for $1.6 billion in equity, with enterprise value over $7 billion, and is now exploring exit options after a four‑year hold....
Private-Equity Firm KKR Said to Be Eyeing Disposal of Flora Food Group
Private‑equity giant KKR is reportedly exploring a sale of its Flora Food Group spreads assets, with bankers valuing the deal at up to $10 bn. KKR acquired the plant‑based brand portfolio from Unilever in 2018 for roughly $7.9 bn and the business...
Paramount Is Trying To Blame Netflix For All The Negative Merger Press
Paramount Global and Warner Bros. Discovery are pursuing a $111 billion merger that has sparked a backlash from more than 4,000 Hollywood insiders. The insiders signed a letter warning that the deal would deepen debt, trigger layoffs, and hurt consumers and...
GTCR Teams up with Brian Cross to Launch Avelis Holdings
GTCR, a leading private‑equity firm, has joined forces with serial entrepreneur Brian Cross to launch a new investment vehicle called Avelis Holdings. The partnership will be led by Crotty, who has been appointed chief executive officer of the nascent firm....
A Single-Point Dealership Sells to a Larger Auto Group to Remain Competitive
Matthews Automotive Group announced the acquisition of Sylvester Chevrolet in Peckville, Pennsylvania, adding a second Chevrolet franchise to its portfolio. The deal reflects growing pressure on single‑point dealerships, which often lack the scale to compete in today’s complex automotive retail...
Apax in the Running to Acquire CloserStill Media From Providence in £1.2bn-plus Auction Process
Apax Partners has emerged as the frontrunner in an auction to buy UK exhibitions group CloserStill Media, a deal that could value the business at more than £1.2bn (approximately $1.5bn). Providence Equity Partners originally acquired a majority stake in 2018...
Deal Roundup: Lazard to Buy Campbell Lutyens for up to $660m, KKR Said to Prep $10bn Flora Food Group Sale
Lazard announced a definitive agreement to acquire placement agent and secondaries advisor Campbell Lutyens for up to $660 million. The deal, pending regulatory clearance, will integrate Campbell Lutyens' fundraising expertise into Lazard's investment banking platform. In parallel, private‑equity giant KKR is...
Investor Intentions: GEPS Looks to Expand Its Private Debt Exposure
South Korea's Government Employees Pension Service (GEPS) plans to allocate between $200 million and $300 million to private debt funds in 2026. The move expands the pension fund’s exposure to alternative credit assets, complementing its traditional equities and fixed‑income holdings. GEPS seeks...
Investors Fly Blind Into Private Funds
A recent Adams Street survey indicates that individual investors plan to increase allocations to private equity and credit funds, even though many lack a clear understanding of these complex structures. The data suggests a growing appetite for private‑market exposure among...
KKR Buys Into MLS Next Pro as League Plots Overhaul
Private equity firm KKR is investing up to $200 million in MLS Next Pro through a new joint venture, Hometown Soccer Holdings, that will take over commercial operations for the league’s 30‑team development tier. While MLS clubs retain player payroll and sporting...
Notes From the Australian Pension Road Trip
Australian superannuation funds, wielding roughly $3.2 trillion in assets, dispatched a delegation to the UK and France to deepen exposure to European private‑market opportunities. The trip follows a similar U.S. visit and reflects a broader strategy to allocate capital beyond domestic...
CVC Weighs $10.5 Billion Bid for Nexi as CDP Opposes Stake Sale
CVC is weighing a roughly $10.5 billion offer to acquire Italy’s payments powerhouse Nexi. The bid arrives as CDP, the state‑backed investor that owns about 30% of Nexi, has publicly opposed the transaction, warning of strategic risks. Nexi’s recent earnings—over €2.2 bn...
Adams Street Partners Leads $240m Continuation Fund for Broadtree Partners Portfolio
Adams Street Partners has led a $240 million continuation fund for Broadtree Partners, a service‑business investor. The multi‑asset vehicle repackages existing portfolio holdings, giving Broadtree fresh capital while offering liquidity to current limited partners. The fund’s size underscores strong investor appetite...
Palana S.A. Unites Three Firms in Compliance Platform Play
Palana S.A., a Luxembourg‑London regulatory technology group, merged its Avanterra and Palana Services units into a single entity on 1 April 2026. The unified firm now reports €20.5 million in revenue (about $22.3 million) and employs 120 staff, reflecting a 32% CAGR over the...
Invest Europe: PE- and VC-Backed Firms Grow Jobs 4%, 4x Faster than Europe in 2024
The seventh edition of Invest Europe’s *Private Equity at Work* report quantifies the employment engine that private‑equity and venture‑capital backed companies have become across the continent. In 2024 these firms generated a net 295,312 new positions, translating into a 4 percent...
Value Creation in 2026: The Art and the Science
Private equity firms face a rapidly shifting environment in 2026, where evaluating an asset’s resilience to climate, cyber and regulatory disruptions is no longer enough. They must also design growth strategies that can adapt to sectors that are transforming on...
You Don't Have to Sell Out to Grow: A Case for Staying Independent as an RIA on Your Terms
Record RIA M&A activity in 2025—466 deals, a 27% rise, with 72% driven by private equity—has accelerated pressure on independent firms to consider sell‑outs. While PE offers high valuations, capital, and infrastructure, advisers report post‑sale regrets over lost autonomy and...
Equis to Launch Management-Led Recapitalisation Process – Exclusive
Equis announced a management‑led recapitalisation process to raise fresh equity for its portfolio. The move comes after an attempted sale of its Asia‑Pacific renewable‑energy platform fell through last year. Management will spearhead the fundraise, targeting infrastructure‑focused investors. The recapitalisation is...
Blackstone Creates Dedicated AI Investment Unit
Blackstone Inc is launching a dedicated artificial‑intelligence unit, Blackstone N1, to centralize its AI and high‑growth technology investments. The West‑Coast team, led by senior executive Jas Khaira who is relocating to San Francisco, will absorb the former Blackstone Growth platform...
Ardian Steps up Secondary-Market Role as Canadian Pensions Rebalance Portfolios
Ardian is emerging as a leading buyer of private‑equity stakes from Canada’s major pension funds, capitalising on a wave of secondary‑market transactions that provide liquidity amid slower deal payouts. The Canada Pension Plan Investment Board sold roughly CAD 2 billion (≈US$1.5 billion) in...
Finsbury Food Group Acquires Healthy Snacking Brand
Finsbury Food Group has purchased a 100% stake in Flower & White, a fast‑growing brand that offers healthier sweet‑treats and snack bars. The company, which is expanding at roughly 30% per year, will add a strong direct‑to‑consumer (DTC) capability to...
Exfinity Venture Partners Exits Partially From CloudSEK
Exfinity Venture Partners announced a partial exit from its early‑stage investment in cybersecurity platform CloudSEK, delivering a 13× multiple on invested capital and an IRR above 40%. The exit was executed as a secondary sale to existing investors, while Exfinity...
NY Now Acquired by RMG Following Deal With Emerald
Rockview Management Group (RMG) has acquired the NY NOW wholesale gift, home and lifestyle trade show from Emerald Holding, Inc. The new ownership team—industry veterans Dorothy Belshaw, William Lacey and Karen Olson—plans to revamp the biannual event, beginning with the...
Octus: Private Credit & Deal Origination Insights – 4/27/2026
Octus released its latest private‑credit market briefing, highlighting a 12% year‑over‑year increase in deal origination volume and a shift toward mid‑market middle‑market borrowers. The report shows syndicated loans now represent 38% of total private‑credit commitments, up from 31% a year...
Blue Owl Capital Inc (OWL) Q1 2026 Earnings Call Transcript
Blue Owl Capital reported adjusted net investment income of $0.36 per share, a 9.5% return on equity, while NAV slipped to $14.89 per share after modest write‑downs. The firm announced a merger with OBDC II that will lift total portfolio assets...
Select Medical Holdings Corp (SEM) Q1 2026 Earnings Call Transcript
Select Medical reported Q4 2025 revenue growth of over 6% while adjusted EBITDA fell 10% to $104.7 million, driven by an unexpected $15 million health‑insurance expense and $6 million variable discounts in outpatient rehab. The Board is evaluating a nonbinding take‑private proposal...
In Chiesi’s Biggest M&A Deal yet, Pharma Buys HAE Company KalVista
Italian pharmaceutical group Chiesi announced the acquisition of U.S. biotech KalVista for approximately $1.5 billion in cash, marking its largest M&A transaction to date. KalVista, a specialist in hereditary angioedema (HAE), brings a late‑stage monoclonal‑antibody program and a pipeline of complement‑targeted...
Lauder Considers Bid for Puig at 18 Euros to 19 Euros Per Share, Report Says
Estée Lauder is weighing a tender offer for all of Puig’s class B shares at €18‑€19 per share, roughly $20‑$21. The French‑based beauty group has hired J.P. Morgan to arrange a financing package of about €5 billion (≈$5.5 billion) to fund the mixed cash‑and‑share bid....
Does This Potential Acquisition Make Sirius XM Stock a Buy?
Sirius XM is reportedly in preliminary talks to acquire iHeartMedia, the nation’s largest radio‑station owner. Both companies have seen rapid growth in podcasting, with Sirius XM’s podcast revenue jumping 41% in 2025 and iHeart’s up more than 25% the same...
Zwift Buys Rouvy, Expanding Its Digital Footprint and Potentially Sidestepping the UCI
Zwift announced the acquisition of Rouvy, the real‑world indoor cycling platform, expanding its product suite beyond animated routes. The deal keeps both services separate for now, preserving Rouvy’s subscription model and development roadmap while integrating hardware compatibility. By absorbing Rouvy’s...
Tropical Smoothie Café Whips up $270 Million in ABS
Tropical Smoothie Café has launched a $270 million asset‑backed securities program, pledging cash flow from existing and future franchise royalties, supplier rebates and other fees. The deal issues two tranches—Class A2 and M notes—with an anticipated repayment in May 2031 and a final...
Ready to Sell? Here’s Why You Need an Assessment First
TSG advises payments‑focused companies to begin any sale process with a comprehensive assessment rather than jumping straight to valuation or pitch‑deck creation. The assessment uncovers the factors that drive a premium multiple, pinpoints operational gaps, and informs whether to sell...
Lightspeed Offloads Upserve at a Discount as Transformation Plan Continues
Lightspeed Commerce announced the sale of its U.S. hospitality platform Upserve to Skyview Equity for up to $81 million in cash, far below the $430 million it paid in 2020. The deal includes $44 million upfront and a $37 million earn‑out tied to performance....
Private Equity Overtakes Merger as UK Law Firms’ Preferred Route to Growth, New Research Reveals
Private equity has become the leading growth strategy for UK law firms, with 75% preferring it over the traditional merger or partnership route, which now appeals to only 52% of firms. The shift reflects a broader transformation in the sector,...
Japanese Firms to Frame 6% of US Homes After Sumitomo Forestry’s $4.5B Deal
Sumitomo Forestry has secured approval for its $4.5 billion all‑cash acquisition of California builder Tri Pointe Homes, the largest U.S. homebuilder purchase by a Japanese forest‑based firm. The deal expands Sumitomo’s footprint into California and Nevada, raising Japanese ownership of U.S. single‑family...
Infinite Epigenetics Acquires Tally Health in ‘Largest Epigenetic Testing Deal to Date’
Infinite Epigenetics announced the acquisition of Tally Health, creating the largest private‑sector DNA methylation database. The deal merges Infinite's TruDiagnostic biological‑age platform with Tally's at‑home epigenetic test and supplement program, forming a vertically integrated measurement‑to‑intervention stack. Executives say the combined...
Private Equity Investment Fuels Major Overhaul of Grant Thornton’s Associate Scheme
Grant Thornton has unveiled a brand‑new associate programme for its 2027 graduate cohort, funded by a private‑equity investment from Cinven. The overhaul introduces six pillars—reward, experience, exposure, quality, diversity and accelerated partnership—to attract and develop talent. Simultaneously, the firm aims...
Teva to Acquire Emalex Biosciences for ~$900M
Teva Pharmaceutical Industries has signed a definitive agreement to acquire Emalex Biosciences for an estimated $900 million, comprising $700 million upfront and up to $200 million in commercial milestones. The purchase brings Emalex’s lead asset, ecopipam—a selective dopamine D1 receptor antagonist—into Teva’s neuroscience...
Spin-Outs Enjoy an Edge in GP Financing
Corpay’s latest report highlights that private‑equity spin‑outs—teams breaking away from established firms—enjoy a financing advantage over truly emerging managers. While both groups seek general‑partner (GP) capital, spin‑outs attract larger loan commitments and more favorable terms. Emerging managers, lacking the brand...
US Investment Giant Swoops for Stake in European Wind Developer
Blackstone’s infrastructure fund is committing up to $2.3 bn for a 24.7% stake in Danish renewables developer Eurowind Energy. The investment gives the U.S. giant a foothold in a company active in on‑shore wind, solar, battery storage and biogas across 16...
IT News: Amadeus to Acquire IDEMIA Public Security
Amadeus announced its intention to acquire IDEMIA Public Security for €1.2 billion (approximately $1.3 billion). IDEMIA, a French biometrics and identity services leader, offers an end‑to‑end platform and a global blue‑chip client base across public and private sectors. The acquisition builds on...
Skyview Acquires Lightspeed Commerce’s Upserve US Hospitality Product Line
Skyview announced the acquisition of Lightspeed Commerce’s Upserve hospitality product line, bringing roughly 3,200 U.S. restaurant locations into its portfolio. The deal transfers Upserve’s point‑of‑sale, analytics, and back‑office solutions to Skyview, expanding its SaaS offerings for mid‑size operators. Financial terms...
The Loadstar Leader: China Merchants Tipped to Join the Hutch Port Sale Talks – Why?
China Merchants, a centrally administered state‑owned enterprise, is being added to negotiations over the sale of Hutchison Port Holdings (HPH). Beijing previously forced Cosco’s participation, and the new partner may help finance and structure the deal, potentially easing regulator concerns....
Quantum Tech Investor QDNL Rebrands to Ground State Ventures, Nears Final Close for New Fund
Venture capital firm QDNL Participations has rebranded to Ground State Ventures as it moves toward the final close of its inaugural quantum-focused fund. The firm has secured $88 million in commitments, positioning the fund to invest in early‑stage quantum technologies. The...