Deal Roundup: Goldman Sachs Alts Leads $65m Sage Series C, Littlejohn & Co Invest in GDS Associates
Goldman Sachs Alternatives' growth equity arm led a $65 million Series C round for Sage, an integrated care platform serving senior living communities and skilled‑nursing facilities. The capital infusion is aimed at scaling Sage’s technology stack, expanding its geographic footprint, and accelerating product development. The deal underscores growing investor appetite for digital solutions that address the aging population’s complex care needs. In parallel, Littlejohn & Co announced an investment in GDS Associates, highlighting continued private‑equity interest in niche health‑tech services.
Ex-NFL Players Terrence C. Murphy Sr, Reggie Bush Eye $150m for Debut Sports Fund
Former NFL star Terrence C. Murphy Sr., joined by Hall of Famer Reggie Bush, has launched a private‑equity vehicle to acquire controlling interests in emerging sports leagues and related ecosystem assets. The partnership aims to raise $150 million for its debut...
Gilchrist: Igneo ‘a Clean Sheet of Paper in Terms of Opportunity’
Carolyn Gilchrist, appointed six months ago as Igneo’s global head of capital formation, has outlined a new vision for the firm’s investor relations. She proposes a unified IR function that will serve as a single point of contact for investors...
PE Fundraising Suffers Weakest Year Since 2020 Amid Exit, Distributions Challenges: PitchBook
Private equity fundraising slowed for a second straight year in 2025. Total capital commitments fell to the weakest level since 2020, marking a double‑digit year‑over‑year decline. The slowdown stems from a dearth of portfolio exits, which curbed distributions and left...
Advent Discloses Rejected $1.52bn Bid for UK Aerospace Supplier Senior
Advent Capital disclosed that its $1.52 billion offer for Senior, a UK aerospace components supplier, was turned down by the target's board. The rejection comes amid a competitive auction that includes Arcline Investment Management. Senior’s decision highlights valuation gaps between private‑equity...
PE Eyes Growth Opportunities in Active Pharmaceutical Ingredients: 5 Deals
Private equity firms are actively pursuing growth in the active pharmaceutical ingredient (API) sector, with five recent transactions highlighted by Astorg, EQT, New Mountain Capital and TA Associates. The deals involve both acquisitions and divestitures of API manufacturing assets, reflecting...
BlackRock’s GIP to Acquire TCR
Global Infrastructure Partners (GIP), BlackRock’s infrastructure arm, has signed a definitive agreement to acquire TCR, the world’s largest independent lessor of airport ground support equipment, from 3i Infrastructure. The deal includes a co‑investment by TCR’s management team, underscoring confidence in...
The Firm that Never Forgets: Rowspace Launches with $50M to Make AI for Private Equity Actually Work
Rowspace, a San Francisco startup founded by MIT alumni Michael Manapat and Yibo Ling, announced a $50 million seed and Series A round led by Sequoia and Emergence Capital. The company’s AI platform stitches together a firm’s structured and unstructured private‑equity data—deal...
Mutares Agrees to Sell inTime to Tawin Holdings Group
Mutares, the German private‑equity firm, has agreed to sell its European time‑critical logistics subsidiary, inTime, to Tawin Holdings Group. inTime provides ultra‑fast, same‑day and next‑hour delivery services across key European hubs. The divestiture aligns with Mutares’ strategy to streamline its...
Amid Ownership Transition, Sirona’s Revenue Drops to Rs 77 Cr in FY25
Sirona, the Gurugram‑based feminine hygiene brand, saw its FY25 revenue drop 23% to Rs 77 crore after a turbulent ownership transition. The company was bought back by its founders earlier this year for roughly Rs 150‑180 crore, far below the Rs 450 crore Good Glamm paid...
Apollo Launches Fundraising for 11th Flagship Vehicle
Apollo Global Management has opened fundraising for its 11th flagship private‑equity vehicle, aiming to secure capital after the previous fund fell short of its target. The firm is emphasizing its superior Distributions to Paid‑In (DPI) ratio to persuade limited partners...
The Next Round of Uncertainty – ‘a Headwind and a Tailwind’
The secondary market for private‑equity assets is entering another phase of macroeconomic uncertainty, prompting investors to revisit proven playbooks from past volatile periods. Recent data shows tightening liquidity and heightened price sensitivity as capital allocation slows. Market participants are expected...
2026 Should Set Another Record Despite Macro Uncertainty: PJT’s Millan
Adrian Millan of PJT Partners told NEXUS 2026 that the private‑equity secondaries market is poised to break its 2025 volume record despite lingering macro‑economic uncertainty. He noted that investors are re‑evaluating pricing as geopolitical tensions and monetary‑policy shifts create volatility....
Dundon Sells 12.5% of Hurricanes at $2.66 Billion Valuation
Carolina Hurricanes owner Tom Dundon agreed to sell a 12.5% minority stake, valuing the NHL franchise at $2.66 billion. The transaction introduces three undisclosed partners and may provide liquidity for Dundon's pending $4.25 billion acquisition of the Portland Trail Blazers. The Hurricanes'...
New PE Firm Synergy Sports Capital Debuts
Synergy Sports Capital, a newly launched private‑equity firm, announced its debut focusing on the lower‑middle‑market segment. The firm targets companies valued between $10 million and $100 million, with a particular emphasis on sports‑related businesses. Its leadership blends investment expertise with deep industry...
Investcorp Picks up More than $1.25bn to Close Second GP Staking Fund
Investcorp has closed its second general‑partner (GP) staking fund, raising more than $1.25 billion from a diversified investor base. The vehicle will acquire minority equity positions in private‑equity and hedge‑fund managers, offering them liquidity and strategic support. Compared with the firm’s...
Bridgepoint Mulls Options for Defence Investing Strategy
Bridgepoint is evaluating how to position its capital in Europe’s burgeoning defense sector. A recent Carlyle Group white paper projects that the continent could allocate up to €14 trillion to defense and related infrastructure over the next ten years. The magnitude...
PE Weekly: Dealmakers Target the Enterprise—And the Workforce
This week’s middle‑market private‑equity roundup highlighted a wave of strategic acquisitions and a massive fundraising win. New State Capital Partners bought Vast Coworking, expanding its footprint in flexible office space, while Gryphon Investors took a majority stake in HRSoft, a...
100% Carry Rollover Table Stakes for Trophy CVs – NEXUS
At PEI’s NEXUS conference, industry leaders warned that many companies marketed as "trophy" assets fail to live up to the crown‑jewel label. This reality is driving buyers to adopt 100% carry rollover structures as a new baseline for secondary transactions....
BNP Paribas AM Shuts Down €750m Sustainability Fund – Exclusive
BNP Paribas Asset Management is winding down its €750 million sustainability fund following the acquisition of AXA IM Alts. The purchase created overlapping equity strategies between the two managers, prompting a strategic consolidation. BNP Paribas cited redundancy elimination as the primary...
Sumitomo Mitsui Trust to Ally with US Firm Raymond James
Sumitomo Mitsui Trust Group announced a strategic alliance with U.S. brokerage Raymond James, aiming to combine expertise in finance, M&A, real‑estate and asset management. The partnership gives SM Trust access to Raymond James' $1.8 trillion in client assets and its network...
Opportunities Are Emerging for Port Investors Even Despite Signs of Deglobalisation
Port investors are re‑evaluating asset values as global trade patterns shift, despite growing signs of de‑globalisation. The sector’s relative valuation is being reassessed against alternative infrastructure classes, revealing new upside potential. Analysts note that bottlenecks, supply‑chain diversification, and emerging trade...
The Global Accounting Profession, Now Featuring 1,000+ PE-Backed Firms
The International Federation of Accountants (IFAC) reports that more than 1,000 accounting firms worldwide now have private‑equity backing. Between 2015 and 2025, 177 direct PE investments sparked 875 subsequent roll‑up acquisitions, totaling 1,052 impacted transactions. Private‑equity activity is most concentrated...
Verdane: Why North American LPs Are Looking to Europe
Verdane, an Oslo‑based private‑equity firm, is actively expanding its North American limited‑partner (LP) base. The move reflects a growing appetite among U.S. and Canadian investors for European assets that promise higher returns than domestic markets. Verdane’s outreach targets pension funds,...
Bridgepoint Eyes Further Secondaries Growth as Newbury Team Comes on Board
Bridgepoint, the owner of PEI Group, announced that it will launch its next flagship secondaries fund in 2026. The initiative is being driven jointly with Bridgepoint Newbury, which has recently added a dedicated team to the effort. Senior executives Pete...
Carlyle’s Steve Wise Says the Market Is Open for Bigger, Higher-Quality Businesses; Cutting Edge Group Bets on Music From Movies...
Carlyle’s chief investment officer Steve Wise told investors that the private‑equity market is reopening, with a focus on acquiring larger, higher‑quality businesses after a period of caution. At the same time, Cutting Edge Group announced a strategic bet on music...
LPs Are Not Waiting on the Promise of Distributions: William Blair’s Stuiver
Limited partners are no longer waiting for promised cash returns; they anticipate an eventual rise in distributions. Managing director Jake Stuiver of William Blair explains that higher payouts will lift secondary market pricing. As pricing improves, a larger share of...
PE-Backed Banijay Entertainment and All3Media to Merge
Banijay Entertainment and All3Media, both backed by private equity, announced a definitive merger that will combine their production assets under a single entity. The deal creates one of the world’s largest independent television and digital content houses, spanning scripted, unscripted...
Leveraged Loan Insight & Analysis – 3/2/2026
U.S. sponsored loan issuance reached $148.7 bn YTD through February 2026, a 26% decline compared with the same period last year. Refinancing activity accounted for $82.3 bn, or 55% of total volume, while new money contributed $66.4 bn (45%). The slowdown reflects tighter...
New Entrants Unlock Further Opportunities in the Secondaries Market: Apollo S3’s Lessar
Apollo’s third flagship fund, Apollo S3, is focusing on expanding its secondaries platform primarily through organic growth, while remaining open to selective acquisitions, said co‑head Steve Lessar at PEI’s NEXUS conference. The fund’s strategy reflects confidence in the deepening liquidity...
Hunter Point CEO: Japan’s Emerging GP Landscape Ripe for Future Stakes Deals
Hunter Point CEO Avi Kalichstein told Private Equity International that Japan’s general‑partner (GP) ecosystem, though still nascent, is gaining momentum. He highlighted a growing talent pipeline and an increasing appetite for partnership among Japanese firms. Kalichstein believes these dynamics will...
Afrimat Cements Its Turnaround Strategy
Afrimat posted a strong interim 2026 rebound after a 90% profit plunge in 2025, with revenue rising 29.9% to R5.3 billion and operating profit up 29.8% to R380 million. Earnings per share jumped 92.3% to 101.9 cents, pushing the stock to a 20‑times...
KBRA Direct Lending Deals: News & Analysis – 3/2/2026
KBRA released its latest Direct Lending Default Index data covering the trailing twelve months through March 3, 2026. The chart shows a 12% increase in defaults compared with the prior year, reflecting heightened stress in the private credit market. The index, which...
Side Letter: Europe’s Exit Intervention
Private equity markets in Europe are confronting a slowdown in exits, raising concerns that policymakers could step in to support liquidity. In the United Kingdom, large distribution‑capital firms are increasingly deploying capital directly, altering the structure of private‑market investing. Meanwhile,...
Private Equity Isn’t The Real Issue In Healthcare. Competition Is
Private equity’s expansion into health‑care has sparked a policy debate, but dentistry reveals a more nuanced picture. A recent study with the American Dental Association found that PE‑owned dental practices did not secure higher negotiated insurer rates. Instead, they raised...
A New Media Empire
Paramount announced a $111 billion acquisition of Warner Bros. Discovery, paying $31 per share—a 150% premium to the pre‑talk price. The deal includes a $7 billion regulatory fee and a $2.8 billion breakup fee for Netflix, which withdrew its bid. Combining Paramount, CBS,...
‘Infra Is Defensive but Valuation Smoothing Downplays Risk’
Tim Whittaker of the European Investment Partners Association (EIPA) argues that while infrastructure is often marketed as a defensive asset class, current valuation practices smooth out volatility and conceal true risk. He calls on regulators to require private market investors...
CapMan to Launch €750m Third Nordic Infra Fund – Exclusive
CapMan announced the launch of its third Nordic infrastructure fund, targeting €750 million in commitments. The new vehicle represents a roughly 90% increase over the firm’s previous €400 million fund. It will focus on renewable energy, transport, and digital infrastructure projects across...
Maven Unveils Succession as MacKinnon Becomes Managing Partner, Founder Nixon Steps Back
Maven Capital Partners, a UK alternative investment firm, announced a leadership transition. Long‑time executive Ewan MacKinnon has been named managing partner, succeeding founder Bill Nixon. Nixon will step back from day‑to‑day operations and assume an advisory capacity as part of...
Ridgepost Capital-Owned Qualitas Funds Expands to Secondaries, Eyes €100m Hard Cap for Dedicated Fund
Madrid‑based Qualitas Funds, a fund‑of‑funds specialist owned by Ridgepost Capital, has launched its first dedicated secondary‑market vehicle with a €100 million hard cap. The new vehicle aims to acquire stakes in existing private‑equity funds, providing liquidity to limited partners and expanding...
Benefit Street Partners on Private Credit’s Third Act: Scale, Flexibility and Consolidation
Benefit Street Partners argues that private credit is entering its third act, defined by greater scale, operational flexibility, and industry consolidation. Institutional investors are allocating more capital to alternative credit for its excess returns and diversification benefits. However, they are...
Covenant Trends – 3/2/2026
On March 2, 2026, The Lead Left published its latest Covenant Trends report, highlighting the “Accordion Inside Maturity” covenant pattern. The release includes a detailed chart and a downloadable Excel file (66.8 KB) containing the underlying data. The dataset is intended...
The Pulse of Private Equity – 3/2/2026
The latest PitchBook data shows median enterprise‑value‑to‑revenue (EV/revenue) multiples for North American and European private‑equity buyouts of $2.5 billion or more climbed to 5.5 times in 2025, up from 4.7 times in 2015. After hitting a trough in 2023, valuations rebounded to levels...
PDI Picks – 3/2/2026
The inaugural private‑markets performance quarterly report highlights how the COVID‑19 pandemic generated a rare dislocation that let investors acquire high‑quality assets at steep discounts. Those opportunistic purchases translated into robust internal‑rate‑of‑return (IRR) outcomes across the 2019‑2024 interval. The report’s rolling...
How Nvidia Turned a Steal of a Deal Into Its Secret Weapon
Nvidia leveraged its 2020 $7 billion acquisition of Mellanox to transform its networking business into a major growth engine. In the most recent fiscal quarter the company reported $11 billion in networking revenue, a 263 % increase year‑over‑year, positioning it as the world’s...
Brookfield Asset Management Announces $1 Billion Commercial Paper Program
Brookfield Asset Management announced a new private‑placement commercial paper program with a $1 billion ceiling. The unsecured notes will be issued on a short‑term basis to diversify the firm’s funding mix and bolster its balance sheet. Proceeds are slated for general...
Investors Pull $3.7bn From Blackstone Evergreen
Blackstone’s evergreen private‑debt vehicle, BCRED, experienced a $3.7 billion outflow as investors sought liquidity. In response, the fund raised its quarterly redemption limit from 5 % to 7 % of assets. The withdrawals reflect heightened stress in the leveraged loan market and growing...
Pike Street-Backed US BioTek Merges with NutriPath Pathology
US BioTek Laboratories, a Shoreline, Washington functional lab specializing in advanced immunological and integrative diagnostics, announced a merger with NutriPath Pathology. The deal is backed by private‑equity firm Pike Street Capital, signaling a strategic consolidation in the clinical diagnostics space....
Aerospace and Defense Supply Chain Firm Aeromed Snags Investment From Gemspring
Supply chain firm Aeromed has secured an investment from private‑equity firm Gemspring. The capital will back Aeromed’s recent acquisitions of HITEK Electronic Materials Ltd., NorcaTec LLC, and Kit Pack Company, Inc., expanding its capabilities across aerospace and defense components. The...
Investor Intentions: Fondo Pensione BNL Issues RFP for Evergreen Private Equity
Italian private pension fund Fondo Pensione BNL has issued a request for proposals to allocate roughly €10 million into evergreen private equity vehicles. The RFP focuses on both closed‑end and open‑end funds domiciled within the European Union, reflecting a strategic shift...
