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 30 % to $82 bn, reflecting a softer, more volatile backdrop. The data underscores a tentative slowdown in the leveraged loan sector despite pockets of resilience.
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...
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...
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...
CVC Sees Record Year of Exits with €21.9bn Realised in 2025
CVC announced a record €21.9 billion in realised exits for 2025, marking a dramatic surge in its portfolio activity. The firm’s FY 2025 earnings report shows exit value jumping 77 % from the previous year, while the broader private‑equity market generated €19.5 billion in...
Evergreens Have ‘Let Loose’ Changes that Will Upend Private Markets – Hamilton Lane
Hamilton Lane’s 2026 Market Overview finds evergreen private‑equity funds outperformed traditional closed‑end funds over both one‑ and three‑year horizons. The edge stems from continuous capital inflows, flexible redemption terms, and longer investment horizons. Evergreen structures are gaining traction as investors...
Exit Visibility Key in Evaluating Deals: A&M Capital’s Weisberg
At NEXUS 2026, Jeremy Weisberg of A&M Capital highlighted that its second‑aries strategy targets mid‑market and smaller transactions. The firm argues these deals deliver a more attractive risk‑adjusted return profile than larger, more complex secondary purchases. Weisberg stressed that exit...
Ontario Teachers’ Venture Growth Portfolio Posts 30 Percent Gains in 2025
Ontario Teachers’ Pension Plan’s Teachers Venture Growth (TVG) unit delivered a 30.2% return in 2025, far outpacing its 18.5% benchmark. The fair value of TVG’s net investments jumped to C$15.3 bn, up from C$10.4 bn a year earlier, as stakes in SpaceX,...
RGREEN Raises €900m for Fifth European Energy Transition Fund
RGREEN announced the close of a €900 million fifth European energy transition fund, targeting renewable infrastructure across the continent. The manager has already deployed roughly 70 % of the capital into projects ranging from wind farms to green hydrogen facilities. RGREEN expects...
Partners Group Holding AG (PGPHF) Analyst/Investor Day - Slideshow
Partners Group Holding AG released its Analyst/Investor Day slide deck, providing a comprehensive view of the firm’s strategic direction. The presentation highlights a focus on sustainable private‑equity opportunities and a targeted 12% annual AUM growth. Geographic expansion, particularly in Asia,...
Meta Veteran and Sequoia Partner Aim to Raise Over $1 Billion for New Firm
Sequoia Capital partner Ravi Gupta and former Meta Chief Revenue Officer John Hegeman are launching Ithaca Holdings, targeting at least $1 billion in capital. The new holding company will pursue acquisitions of public or private firms, aiming to embed emerging technologies...
Aerospace & Defense Investor JF Lehman Targets $2.75bn for Fund VII
JFL Equity Investors announced a target of $2.75 billion for its seventh aerospace and defense private‑equity fund, significantly higher than the $2.23 billion raised for its predecessor and well above the original $1.6 billion goal. The larger fund reflects robust limited‑partner demand and...
Are You Ready for Private Equity?
Private equity has become the dominant force in wealth‑management M&A, with firms now offering minority stakes to RIAs as small as $750 million in assets. The shift from majority‑only deals to flexible capital structures means owners must articulate how primary capital...
Cliffwater CIO: Time to Reconsider NAV ‘Squeezing’ in Secondaries
Cliffwater’s chief investment officer warns that the common practice of NAV squeezing in private‑equity secondaries creates a hidden form of time arbitrage. He argues evergreen funds buying into secondary vehicles at similar stages are forced into unfavorable pricing. The CIO...
More Big Law Leaders, 'Open to Growth,' Are Willing to Consider Mergers
Big‑law partners are increasingly signaling openness to growth through mergers, a shift highlighted by recent high‑profile talks such as Ashurst‑Perkins Coie, Hogan Lovells‑Cadwalader, and Taylor Wessing‑Winston & Strawn. Data from ALM shows a surge in lateral moves whenever merger rumors surface, amplifying market volatility. Firms...
Partners Group Chief: AI, Credit Fears Are ‘Wildly Overdone’
Partners Group CEO David Layton said concerns that artificial‑intelligence‑driven credit risk are exaggerated, calling the current AI and credit‑market anxiety ‘wildly overdone.’ He highlighted that the firm has deliberately kept leverage on its private‑credit evergreen funds lower than many competitors....
CPP Investments Comes to Market with Multi-Billion-Dollar PE Portfolio
Canada Pension Plan Investment Board (CPP Investments) has launched Project Ember, a secondary market sale of a private‑equity portfolio valued at over $3 billion. The transaction includes a tranche of equal‑strip positions tied to prominent buyout funds, signaling a sizable liquidity...
CFOs and Private Equity Sponsors Diverge on IPO Timing and Approach
A new Accordion survey of 200 CFOs and 200 private‑equity sponsors reveals a sharp misalignment on IPO timing and responsibility. While 85% of CFOs say boards or sponsors control the exit, 65% of sponsors expect finance chiefs to own IPO...
BNP Paribas AM Raises €540m for Hefty European GP Stakes Fund
BNP Paribas Asset Management’s alternatives arm closed its inaugural GP‑stakes vehicle at €540 million, surpassing early fundraising targets. The fund will acquire minority interests in European private‑equity general partners, giving investors exposure to fee‑related earnings without direct deal‑by‑deal risk. Backed by...
West Anderson Partners Acquires Graduate by Hilton Storrs
West Anderson Partners has completed the acquisition of the Graduate by Hilton Storrs, a 100‑room lifestyle hotel situated on the University of Connecticut campus. The property serves university visitors, alumni, athletic teams, and hosts campus events, positioning it as a...
Amundi to Manage €350m Private Markets Mandate
Amundi has been awarded a €350 million private‑markets mandate, underscoring growing European appetite for alternative assets. At the same time, Asian private‑credit funds are drawing fresh capital as U.S. lenders face tighter conditions. EQT secured a 42% stake in Kelda Holdings,...
Currency, Tax Risks Tempering Private Equity Optimism in India, Investors Say
Private‑equity investors in India are confronting two major headwinds: a weakening rupee, which has fallen 1.9% against the dollar so far in 2026 after larger declines in the previous two years, and a capital‑gains tax of 10‑15% on exits. While...
Private Wealth Capital Expanding Capacity for Larger Deals: Ardian’s Mallin
At NEXUS 2026, Ardian’s senior executive Ava Mallin highlighted that private‑wealth capital is flowing into the private‑equity secondaries market, expanding the pool of funds available for larger transactions. While this influx has increased overall capacity, Mallin warned that the market...
Shell Sells Part of US Lubes Business to Monomoy for $1.3B
Shell PLC announced the sale of its Jiffy Lube International unit, including the Premium Velocity Auto franchise, to Monomoy Capital Partners for roughly $1.3 billion. The transaction covers more than 2,000 service locations across the U.S. and Canada and represents about 6.5%...
Private Equity’s Rising Use of RWI-Fueled Searchlight’s Euclid Exit
Searchlight Capital’s Euclid fund achieved a $4 billion distribution to its limited partners, defying a generally sluggish private‑equity exit environment. The performance was driven by a series of recent portfolio company sales that leveraged the firm’s revenue‑weighted investment (RWI) methodology. By...
Ardian to Add Italian Business to Self-Storage Platform; Bridgepoint’s Fera Science Makes Mineral Play
Ardian announced the acquisition of an Italian self‑storage business, adding it to its pan‑European platform. The deal gives the platform operations in Italy, complementing existing assets in France and the UK. Meanwhile, Bridgepoint’s portfolio company Fera Science, which provides scientific...
Ardian Acquires Majority Stake in Italian Self-Storage Operator Casaforte
Private equity firm Ardian has acquired a majority stake in Casaforte, one of Italy’s leading self‑storage operators. The transaction brings Ardian’s cumulative investment in self‑storage assets across Italy and France to more than €300 million. Casaforte’s portfolio includes over 30 facilities...
Ampersand-Backed Biologos Appoints CEO
Biologos, a life‑sciences manufacturer owned by Ampersand Capital Partners, has named longtime COO Hetal Patel as its new chief executive officer. Patel assumes the role as the firm accelerates investments in manufacturing capacity, including a newly built 32,000‑square‑foot GMP‑compliant facility...
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Opinion: Asia’s Growing Influence in Healthcare Private Equity
Raj Shah, head of healthcare at Nordic Capital, argues that Asia is becoming a pivotal arena for healthcare private equity. Demographic pressures, especially aging populations and rising middle‑class incomes, are creating a surge in demand for medical services. Investors, both...
Rethinking Exit Multiples in High-Growth Company Valuations
The article presents a valuation framework that derives exit multiples from long‑run growth, ROIC, and discount‑rate assumptions rather than treating them as arbitrary market plugs. Empirical regressions on high‑growth firms show that expected one‑year revenue growth accounts for roughly 55%...
Side Letter: New Mountain’s Holt Halt
A former New Mountain Capital executive attempted to acquire five of the firm’s portfolio assets, but the bid collapsed after negotiations stalled. The breakdown highlights the growing importance of baseline economics in pricing trophy‑level private‑equity assets. Investors now treat valuation...
Why Private Equity Matters (Part Nine)
Private equity firms are increasingly emphasizing strategic selection over opportunistic buying, dedicating extensive time to identify the right business, market, or operating model before committing capital. This disciplined approach reflects a long‑term view of which industries and company types offer...
Are CVs the Answer to GP Stakes Exit Challenges?
General partner (GP) stakes have become a sizable asset class, yet investors struggle to find timely exits because traditional secondary markets lack depth. GP‑led continuation vehicles (CVs) are emerging as a structured solution, allowing sponsors to roll assets into a...
Chart of the Week: Leading the Way
The chart released by TheLeadLeft shows private‑equity fundraising trends from 2016 to 2025 across North America, Europe, Asia‑Pacific and the rest of the world. In 2025 the United States emerged as a relative bright spot, posting higher fundraising totals while...
FFL Partners Forms Pioneer HOA
FFL Partners announced the creation of Pioneer HOA, a newly formed holding company designed to house its current and future investments in homeowners association (HOA) property‑management firms. The move consolidates a fragmented portfolio under a single corporate umbrella, simplifying governance...
Irenic Hires Apollo’s Wang in Private Equity Push for Hedge Fund
Irenic Capital Management, a hedge fund known for activist campaigns, is expanding into private equity by hiring former Apollo Global Management principal E‑Fei Wang as managing director and head of private equity. Wang will lead efforts to execute buyouts and...
CPP Wants More ‘Established’ Data Centre Platforms After Latest $4bn Buy
The request did not include the article text, only a placeholder indicating a pay‑wall prompt. Without the actual content, no details about CPP's interest in more established data centre platforms or the referenced $4 billion acquisition can be extracted.
Sports Investing Insights From Ian Charles, Theo Epstein, Josh Harris, José E. Feliciano
At PEI Group’s NEXUS 2026, private‑equity veterans Ian Charles (Arctos), Theo Epstein (26North), Josh Harris (Clearlake) and José E. Feliciano shared their outlook on sports investing. They highlighted accelerating franchise valuations, the premium placed on media‑rights and data‑analytics assets, and...
HIG Details Pipeline for Industrial Maintenance Biz Coriant; EQT, Ambienta in Water Treatment Deals
H.I.G. Capital disclosed a pipeline of investments targeting industrial‑maintenance specialist Coriant, signaling a strategic push into high‑margin service assets. Private‑equity firms EQT and Ambienta announced separate acquisitions in the water‑treatment sector, expanding their environmental‑services portfolios. Gurpreet Manku, CEO of Level 20,...
KKR Mulls Exit From Data Centre Cooling Specialist CoolIT
KKR is weighing a multibillion‑dollar sale of CoolIT Systems, a data‑centre liquid‑cooling specialist that it bought for roughly $270 million in 2023. The potential transaction could value the company at over $3 billion, reflecting the rapid shift of CoolIT from gaming‑PC cooling...
EQT to Invest in Parent Company of Yorkshire Water
EQT, the global private‑equity firm, announced a strategic investment in the holding company that owns Yorkshire Water, one of the UK’s largest water and wastewater providers. The capital infusion is aimed at bolstering infrastructure upgrades and supporting long‑term service reliability...
Nordic Private Capital Markets Demonstrate Resilience, Report Reveals
PitchBook’s 2026 Nordic Private Capital Breakdown shows the region’s private capital market outperformed Europe in 2025, with venture capital investment rising 15.6% to €6.5 billion despite a 20% drop in deal count. Median deal size reached a record €2 million and AI‑focused...
DiligenceSquared Closes $5M in Funding to Bring AI-Driven Commercial Due Diligence to Private Equity
DiligenceSquared announced a $5 million seed round led by Relentless with participation from Y Combinator to scale its AI‑driven commercial due‑diligence platform. The solution combines AI voice agents, automated data synthesis, and interactive, source‑traceable reporting to replace traditional consulting projects that typically...
BlackRock-AES Deal Highlights Gas' Edge Over Renewable Power
A BlackRock‑led consortium will take AES private in a $33.4 billion deal, valuing the power producer at roughly $70 billion. The transaction underscores private‑equity interest in regulated energy assets amid soaring electricity demand. It also highlights the competitive pressure gas and nuclear...
Schellman Announces Strategic Partnership with Goldman Sachs Alternatives
Schellman, a leading cybersecurity compliance provider, secured a strategic investment from Goldman Sachs Alternatives, while Lightyear Capital stays on as a minority holder. The partnership aims to fund Schellman's next growth phase, expanding capabilities in AI governance, federal compliance, and digital trust....
