KKR to Sell Data Center Liquid Cooling Company CoolIT for $4.75b
Kohlberg Kravis Roberts (KKR) has agreed to sell its data‑center liquid‑cooling specialist CoolIT for $4.75 billion. The transaction is slated to close in the third quarter of 2026. CoolIT’s technology addresses rising heat‑density challenges as hyperscale operators shift toward more efficient cooling solutions. The deal underscores private‑equity confidence in the high‑growth niche of liquid‑cooling infrastructure.
ADIC Shops $2bn-Plus Portfolio of Fund Stakes
Abu Dhabi Investment Council (ADIC) is assembling a portfolio of private‑market fund stakes valued at more than $2 billion. Private‑market assets already represent roughly 61% of ADIC’s total holdings, underscoring the sovereign fund’s tilt toward illiquid alternatives. The initiative focuses on...
FDIC Opens Door for Private Equity to Buy Failed Banks
The FDIC has rescinded its 2009 rule that barred private‑equity firms and other non‑bank entities from bidding on failed banks. The change, prompted by the rapid failures of Silicon Valley Bank, Signature Bank and First Republic in 2023, is intended...
How Does Fund Size Affect Time on the Road?
Historically, larger investment funds reached final close faster than their smaller counterparts, a pattern that persisted for years. Recent analysis shows this dynamic has reversed, with smaller funds now achieving quicker closures. The shift reflects changing fundraising tactics and market...
Private Equity Firms Want Special Skills in Their Portfolio Company CFOs
Private equity‑backed companies are hunting CFOs who go beyond traditional finance stewardship. Recruiters cite four non‑negotiables: acting as an operational copilot, possessing advanced AI expertise, being transaction‑ready, and showing a strong backbone. With roughly 21,000 PE‑backed firms in the U.S....
Savvy Set for $6bn Moonton Deal
Savvy Games Group, the gaming arm of Saudi Arabia’s Public Investment Fund, is set to acquire Moonton, the creator of Mobile Legends: Bang Bang, for an estimated $6 billion. The deal, reported by Bloomberg, follows Savvy’s $4.9 bn purchase of Scopely and...
Outlook Bright for Global PE Secondaries, Volume Expected to Reach New Record This Year: Houlihan Lokey
Houlihan Lokey’s LP Compass survey of nearly 60 active secondary market participants finds 86% expect private‑equity secondaries volume to eclipse last year’s $225 million record in 2026. Growth is attributed to a slowdown in distributions, expanding non‑buyout strategies, and heightened participation from...
PE Targets Healthcare Benefit Management: 5 Deals
Private equity firms are intensifying their focus on healthcare benefit management, announcing five new deals this quarter. Investors such as InTandem, NMS Capital and WestView Capital are targeting platforms that serve both employers and employees. The transactions aim to consolidate...
TPG Seeks to Re-Establish Japan PE Presence with Senior Hire
TPG Capital has appointed a senior executive to lead a renewed private‑equity push in Japan, marking the firm’s first dedicated leadership role in the market in years. The hire coincides with TPG NewQuest’s launch of its inaugural Japan‑based secondaries executive,...
Take-Private Attempt for KNOT Offshore Partners Falls Through
New York‑listed shuttle tanker owner KNOT Offshore Partners (KNOP) announced it has terminated negotiations with its parent, Knutsen NYK Offshore Tankers, over an unsolicited take‑private proposal first floated in October 2025. A conflicts committee of independent directors, assisted by external...
Private Equity in Agtech: Disciplined, Selective, and Increasingly Hard to Ignore
Private equity (PE) has traditionally been a peripheral player in agtech, deterred by long commercialization cycles and low recurring revenue. In 2024‑2025 PE activity nudged upward, yet less than 10% of the 60+ agtech M&A deals involved a financial buyer,...
IKM Gruppen Acquires Hendrik Veder Group
Norway’s IKM Gruppen announced the acquisition of Rotterdam‑based Hendrik Veder Group, creating the new entity IKM Hendrik Veder. The deal adds a 225‑year‑old rope and wire specialist with 79 employees to IKM’s 4,000‑strong, 15‑country operation. The combined company will broaden...
Wasserman Sale Begins as Private Equity Lines Up
Bankers have opened the bidding window for Wasserman, the Los Angeles‑based sports and entertainment powerhouse now operating under the name The Team. Moelis & Co. is steering the process, while a roster of potential acquirers – including private‑equity firms Permira,...
Survey: GPs Grapple with Fund Finance Frictions
A new survey by Private Funds CFO reveals that general partners (GPs) are encountering significant frictions in fund finance. Sponsors express frustration over heavy information requirements and the cumbersome process of comparing lending term sheets. The study indicates that redundant...
Investor Intention: Sumitomo Mitsui Finance and Leasing Company to Grow Infrastructure Portfolio
Sumitomo Mitsui Finance and Leasing Company (SMFL) announced plans to expand its infrastructure portfolio, concentrating on transport‑related assets and movable transportation funds. The strategy signals a shift toward higher‑growth, capital‑intensive projects such as rail, road, and logistics platforms. SMFL aims...
Secondaries’ Most Methodical Sellers: The Buyers Themselves
Over the past 15 months, a cohort of secondary‑market participants has actively placed limited‑partner (LP) stakes for sale. Unlike typical LP sellers, these players adopt a highly disciplined, methodical approach that mirrors the rigor of their own buying processes. Their...
Co-Investing Is Having Its Trafalgar Moment
Co‑investing is experiencing a resurgence, described as its "Trafalgar moment," as limited partners (LPs) increasingly allocate capital alongside general partners (GPs) rather than pursuing pure direct deals. While high‑profile investors have publicly pivoted away from direct investing, the underlying willingness...
Sir James Dyson Buys 50% of Bath Rugby
Sir James Dyson has purchased a 50 % stake in Bath Rugby, the reigning Premiership champions, and pledged multi‑million‑pound funding to clear debt and build a new stadium. The deal pairs Dyson with current owner Bruce Craig, who will remain chairman,...
Env Zero and CloudQuery Complete Merger to Create a Unified Cloud Intelligence Platform
env zero, a leading IaC governance platform, has merged with CloudQuery, a cloud asset management specialist, forming a unified cloud intelligence solution under the env zero brand. The combined offering merges continuous cloud asset discovery with automated infrastructure provisioning, promising end‑to‑end lifecycle...
Sumitomo Life Looks to Allocate $1.9bn to Private Credit
Sumitomo Life announced a plan to allocate roughly $1.9 billion to private credit investments over the next few years. The insurer will concentrate on mid‑market, senior‑secured loan opportunities, leveraging domestic partnerships to source deals. This move follows a broader shift among...
Deal Roundup: Bain Capital Buys Into Egeria’s Duravent, Ronin Completes GP Secondary Investment in AeriTek
Bain Capital’s special situations team has taken a strategic growth stake in Duravent Group, the Egeria‑backed provider of venting and air‑quality solutions. The investment is described as “significant,” indicating a sizable capital infusion. In a separate transaction, Ronin Capital completed...
BNP Paribas AM Alts Seals $722m Infra Secondaries Fund Close, Is Already Planning Successor Raise
BNP Paribas Asset Management Alternatives closed a $722 million infrastructure secondaries fund, marking its second fund close in a single month. The vehicle targets secondary market transactions in the growing infrastructure sector. The rapid close underscores strong investor appetite for diversified,...
Technology Moves Down the List of Favoured CV Sectors – Houlihan Lokey
Investment bank Houlihan Lokey reports that technology has slipped down the list of preferred sectors for corporate venture secondary transactions. Managing Director Michael Pilson told Secondaries Investor that investors are increasingly gravitating toward sectors such as healthcare, consumer, and industrials....
Middle Market Deal Terms at a Glance – March 2026
The Lead Left published SPP Capital Partners’ March 2026 Middle Market Deal Terms snapshot, comparing deal components, leverage and pricing for micro, small and mid‑cap companies against March 2025. The data show modest tightening of leverage ratios and a compression of EBITDA...
Covenant Trends – 3/16/2026
Covenant Trends released its March 16 2026 data set highlighting the average EBITDA adjustment cap applied to synergies and cost‑saving initiatives in loan agreements. The chart shows the cap hovering around the low‑teens percentage range and climbing steadily year‑over‑year. The release includes...
The Pulse of Private Equity – 3/16/2026
U.S. private‑equity firms recorded a solid rebound in 2025, delivering the second straight year of exit growth. Exit value climbed to roughly $150 billion, positioning the year just behind the 2021 peak. Deal count surpassed 1,200 transactions, erasing the multi‑year slump...
Leveraged Loan Insight & Analysis – 3/16/2026
U.S. primary market leveraged loan yields rose to 8.09% in March, the highest level since April 2025. The increase reflects broader pricing pressure on first‑lien institutional term loan Bs with a three‑year repayment horizon. Single‑B rated credits led the yield...
Bloomberg: Leveraged Lending Insights – 3/16/2026
US leveraged loan issuance has stalled after a sharp February slowdown, with weekly launches falling from the $30 b levels seen in January to just $12.1 b through the week ending March 18. The dip reflects heightened market volatility that continues to deter...
Q1 Fundraising Could Fall Flat
Early analysis shows Q1 2026 fundraising markedly slower than in prior years, with capital commitments dropping double‑digit percentages versus the same period last year. The downturn follows higher interest rates, lingering supply‑chain issues, and heightened geopolitical risk, tightening liquidity for...
Southfield-Backed Franchise FastLane Acquires Consulting Firm Franchise Creator
Franchise FastLane, a franchise development organization backed by private‑equity firm Southfield, announced the acquisition of consulting firm Franchise Creator. The deal adds brand‑strategy and operational consulting to FastLane’s existing franchise‑development services. Financial terms were not disclosed, but the move expands...
Future White Sox Owner Nears Deal For 47-Acre Potential Stadium Site
Justin Ishbia's private‑equity firm is nearing a deal to acquire a 47‑acre former Amtrak rail yard in Chicago’s South Loop, reviving prospects for a new White Sox stadium as the current Rate Field lease expires in 2029. The site, adjacent...
Credit Secondaries: What’s in It for Buyers?
The article examines why investors are flocking to credit‑secondaries, highlighting the asset class’s ability to purchase high‑quality debt portfolios at steep discounts. Buyers benefit from immediate cash‑flow generation, bypassing the traditional J‑curve associated with primary credit funds. Market participants also...
PE-Backed Tech24 Snaps up Pacific Standard Service
Tech24, a commercial foodservice equipment repair and maintenance provider, announced the acquisition of Pacific Standard Service. The deal, backed by private equity, broadens Tech24’s geographic reach and service capabilities. Pacific Standard Service adds a substantial customer base and skilled technicians...
Google’s $32B Wiz Bet: Why Security Consolidation Means You’re Losing Negotiating Power
Google has reportedly raised its bid for cloud‑security firm Wiz to about $32 billion, eclipsing its earlier $23 billion offer and setting a record for cyber‑security acquisitions. The deal would give Google ownership of a full CNAPP stack—including infrastructure, container, API, and...
Idealist Leads C$50 Million Growth Equity Investment in Sustainable Agriculture Company Solugen
Idealist led a C$50 million growth‑equity round in Solugen, a biotech firm that creates sustainable chemicals for agriculture using engineered enzymes. The Canada Growth Fund joined as a co‑investor, providing additional capital to accelerate Solugen’s commercial rollout. The funding is earmarked...
HIG Wins PE Hub’s Small-Cap North America Deal of the Year for Koozie Exit; Ronin Completes GP-Led Secondary Deal for...
H.I.G. Capital (HIG) was named PE Hub’s Small‑Cap North America Deal of the Year for its successful exit from Koozie, a consumer‑goods platform. The award highlights HIG’s ability to generate strong returns in the lower‑middle market. Meanwhile, Ronin Capital completed...
BlackRock’s HPS Raises $6.6bn for Junior Capital Fund
BlackRock’s private‑credit arm HPS announced it has raised $6.6 billion for a new junior capital fund, with a target of $10 billion in committed capital. The vehicle will focus on customized junior debt solutions for mid‑market companies across a range of industries....
Truelink-Backed SouthernCarlson Picks up Specialty Distributor Greenwald Supply Direct
SouthernCarlson, a fastener and construction‑supply distributor backed by private‑equity firm Truelink, announced the acquisition of specialty distributor Greenwald Supply Direct. The deal adds Greenwald’s niche product lines and customer base to SouthernCarlson’s existing portfolio. Integration is expected to broaden geographic...
Beacon Software
Beacon Software announced its executive team, naming Nilam Ganenthiran as Co‑Founder and CEO and Divya Gupta as Co‑Founder and CTO. The firm also disclosed a strategic partnership with Lightspeed, bringing partners Bejul Somaia, Isaac Kim, and Amish Desai to its...
Bain Invests in Climate Tech Firm Duravent Group
Bain Capital announced a new investment in climate‑tech firm Duravent Group, joining existing backer Egeria. The capital infusion is aimed at scaling Duravent’s renewable‑energy storage solutions and accelerating commercial rollout. Bain’s involvement underscores the private‑equity firm’s growing focus on sustainable...
Stephens Group-Backed Astro Pak Snaps up Clean Sciences
Astro Pak, a specialist in high‑purity and precision cleaning, announced the acquisition of Clean Sciences. The transaction is financially supported by Stephens Group, which backs Astro Pak’s growth strategy. By integrating Clean Sciences’ capabilities, Astro Pak broadens its service portfolio...
Behrman Capital Appoints Eric Smith as Operating Partner
Behrman Capital has appointed Eric Smith as an operating partner, adding seasoned operational expertise to its investment platform. In his new role, Smith will counsel both the firm’s investment team and the executives of its portfolio companies on management and...
Deal Roundup: KKR Buys Into Indian E-Bus Fleet in $310m Deal, Warburg Pincus Backs TheGuarantors
Private equity giant KKR is investing up to $310 million to acquire a majority stake in Allfleet, the electric‑bus platform of India’s PMI Electro Mobility Solutions, aiming to deploy more than 5,000 e‑buses. Warburg Pincus has taken a controlling interest in...
Partech Picks up €300m for Debut Impact Fund Amid ‘One of the Most Challenging Fundraising Environments of the Past Decade’
Partech has closed its inaugural impact fund, raising €300 million. The capital will be deployed to European B2B technology firms that are reshaping global value chains. The close occurs amid what the firm calls one of the most challenging fundraising environments...
Buoyed by Non-European LPs, InfraVia Closes Sixth European Fund on €8bn Hard-Cap
InfraVia announced the closing of its sixth European infrastructure fund, reaching an €8 billion hard‑cap. The fundraising was heavily supported by non‑European limited partners, underscoring growing global appetite for European assets. Founder and CEO Vincent Levita cited Europe’s regulatory stability and...
L Catterton Bullish on India, but There Won't Be Any Blind Bets
L Catterton is launching a $400 million India Fund I, backed by a $200 million greenshoe, to double down on the country’s consumer sector. The firm will target founder‑led, differentiated brands in structurally attractive categories while shunning businesses that chase top‑line growth without...
Future Fund Loses Private Markets Investment Leads
Australia's sovereign wealth fund, the Future Fund, announced the resignations of David Bluff and Tammi Fisher, who jointly oversaw private equity and real assets. Their departure adds to a recent wave of senior leadership exits at the fund. The exits...
CalPERS Shows Near-Term Outperformance in PE Amid Strategy Shifts
California’s $613 billion public‑employees pension fund, CalPERS, is delivering near‑term outperformance in private equity after rebalancing its allocation toward venture‑capital, growth‑stage deals, co‑investments, and secondary transactions. The strategic shift emphasizes higher‑return, lower‑duration assets while leveraging co‑investment opportunities to capture excess returns....
Nevada PERS to Exit Clearlake Exposure Due to ‘Conflicts of Interest’
Nevada's Public Employees' Retirement System (PERS), managing roughly $74.9 billion, announced it will unwind its exposure to Clearlake Capital after identifying a potential conflict of interest. The conflict arises from Clearlake’s recent agreement to acquire Pathway Capital Management, which overlaps with...
Moody’s: Structured Finance Becoming Critical to Origination of IG Private Credit
Moody's reports that structured finance is becoming essential for originating investment‑grade private credit. Alternative asset managers are creating joint ventures, using minority equity positions to package and distribute IG debt. This approach broadens investor access to higher‑quality credit while providing...
