Madison Dearborn-Backed Aevex to Go Public Today
Aevex Aerospace, backed by private‑equity firm Madison Dearborn, announced its Nasdaq IPO today, with shares to begin trading later this morning. The offering is being led by Goldman Sachs, BofA Securities and Jefferies, signaling strong Wall Street support. Proceeds are expected to fund expansion of the company’s autonomous defense‑technology portfolio and accelerate new government contracts. The transaction represents a high‑profile private‑equity exit in the rapidly growing defense‑tech sector.
PE Eyes Platform Scaling Opportunities in Autism Care: 5 Deals
Private equity firms are rapidly moving into autism‑care services, announcing five platform‑scaling deals. Investors such as Aquitaine Capital, Goldman Sachs, Renovus and Verdane are among the backers, signaling confidence in a fragmented market ripe for consolidation. The deals focus on...
Mergers in Construction: Consider Net Profit Before Tax Ahead of EBITDA
Bradley Lay argues that construction SMEs should be valued using net profit before tax rather than EBITDA, a metric suited to large‑scale deals. He notes that big transactions like Barratt’s £2.5 bn (≈$3.1 bn) acquisition of Redrow rely on 6‑9× EBITDA, while...
Deal Roundup: Schroders Shareholders Back £9.9bn Takeover by Nuveen, TPG Rise Backs Zum at $1.7bn Valuation
Nuveen, the US asset‑manager arm of TIAA, secured approval for its £9.9 billion (≈$12.7 billion) takeover of UK‑based Schroders, with more than 99.9% of shareholders voting in favour. The offer values Schroders at £5.90 per share plus a £0.22 dividend. Once completed,...
Aditya Birla Housing Finance Raises ₹2,750 Crore by Selling 14.29% Stake to Indriya
Aditya Birla Housing Finance Ltd (ABHFL) raised about ₹2,750 crore ($335 million) by selling a 14.29% stake to Indriya Ltd, an Advent International vehicle. The preferential issue priced the shares at ₹223.12 each, bringing Indriya’s ownership to 14.285% and reducing Aditya Birla Capital’s holding...
Banks Tighten Terms on Private Credit Funds as Collateral Disputes Rise
Private credit funds are confronting tighter leverage terms as major banks such as JPMorgan, Goldman Sachs and Barclays raise interest rates and revalue collateral. Leverage costs have jumped 50 to 150 basis points, pushing spreads above three percentage points over...
EU’s Potential Antitrust Rules Relaxation a Boost for PE Exits, Says EY-Parthenon; PAI Partners-Backed Pasubio Adds on Textile Capabilities
EY-Parthenon warns that the European Union’s likely softening of antitrust rules could accelerate private‑equity exits by reducing regulatory hurdles for cross‑border sales. The analysis comes as the private‑equity‑backed leather supplier Pasubio announced the purchase of French textile firm Luilor, expanding...
Prosus Offloads 4.5% of Delivery Hero to Uber for €270-Million
Prosus, the Naspers‑controlled tech investor, is selling a 4.5% stake in German food‑delivery platform Delivery Hero to Uber for roughly €270 million (about $292 million). The transaction values the shares at €20 each, a 22% premium to the recent average price, and will...
Partners Group Closes Latest PE Secondaries Programme on $9bn+
Partners Group has closed its latest private‑equity secondaries programme, now exceeding $9 billion in total commitments. The fund is more than 60% funded, reflecting strong investor demand. The firm’s secondaries unit previously deployed over $4 billion globally in 2023, underscoring its active...
Riot Considered Acquiring Ashes of Creation Studio for Its MMO Title, Says Co-Founder
Riot Games co‑founder Marc Merrill confirmed the company once considered investing in or acquiring Intrepid Studios, the developer behind Ashes of Creation, with a potential valuation between $250 million and $500 million. Ultimately Riot decided not to proceed, citing misalignment of goals....
Havas on the Lookout as Omnicom and WPP Assets Emerge as M&A Targets
Havas is actively scouting acquisition targets as rivals Omnicom and WPP appear poised to divest assets. The French group has continued its bolt‑on pace, adding five agencies in 2025 and taking majority stakes in four more this year, raising its...
SCA–Seven Deal ‘Snuck in’ Before ACCC Overhaul
Southern Cross Austereo (SCA) completed a $385 million AUD (≈$254 million USD) acquisition of Seven West Media in early January 2026. The deal was finalized just days before Australia’s mandatory, public merger regime took effect on 1 January 2026, allowing it to avoid...
IAG's Acquisition of RAC Insurance Requires Phase 2 Review
The Australian Competition and Consumer Commission (ACCC) has moved Insurance Australia Group's (IAG) proposed purchase of RAC Insurance into a Phase 2 review, citing a substantial lessening of competition in Western Australia’s motor and home‑contents insurance markets. IAG would underwrite these...
Dominus Surpasses Target in $640 Million Fund IV Close
Dominus Capital closed its fourth private‑equity fund, Dominus Capital Partners IV LP, at $640 million—well above the $500 million target and at the fund’s hard cap. The capital raise attracted limited partners from 16 countries, with North‑American investors providing 52% of commitments. The new...
ValOre Provides Update on Hatchet Uranium Corp. Transaction
ValOre Metals announced an update on the sale of its 51%‑owned subsidiary Hatchet Uranium Corp. to Future Fuels Inc., with the amalgamation agreement’s “outside date” pushed to April 30 2026. HUC shareholders approved the deal on March 10, and the TSX Venture Exchange...
Co-Founder of TwinFocus: Private Equity Bets Increasingly Selective Amid ‘DPI Crisis’
Paul Karger, co‑founder and managing partner of Boston‑based multi‑family office TwinFocus, says the private‑equity market is becoming more selective as limited partners grapple with a ‘DPI crisis.’ With roughly $12 bn under management for about 50 families, TwinFocus is steering capital...
When a LP Defaults
Limited partnership (LP) defaults on capital calls remain uncommon, affecting fewer than 5% of private‑equity funds, but heightened market stress is increasing scrutiny. Alexander Branton, CIO of Nodem Capital, outlines the contractual mechanisms that govern defaults, including enforcement rights and...
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RIA Buyers Say Slow Growers Must Prove Deal Will Boost Production
At RIA Edge Nashville, top RIA acquirers emphasized that slow‑growth firms must demonstrate the ability to accelerate client acquisition after a sale. Organic client growth remains a primary valuation metric, but buyers will also scrutinize the sustainability and repeatability of...
Foundation, a Prominent NFT Platform of the 2021 Boom, Shuts Down After Failed Sale
Foundation, the invite‑only Ethereum NFT marketplace that rose during the 2021 digital‑art boom, announced it will wind down after a planned sale to Blackdove collapsed. The platform, which has facilitated roughly $230 million in sales—including a $600,000 Nyan Cat auction and a...
Credit Secondaries Gains Traction Among Korean LPs
Korean limited partners are turning to credit‑focused secondary transactions as a way to acquire debt assets at discounted prices while preserving downside protection. The trend reflects broader growth in the global secondary market, which has seen double‑digit volume increases over...
Industrial Deals ‘Skittish to Launch’ and Taking Longer to Close, Say Investment Bankers; Companies for Sale Update
Investment bankers report that industrial M&A activity has become increasingly cautious, with deals hesitant to launch and closing timelines extending by roughly a third. The slowdown is tied to volatile oil prices triggered by the US‑Israel‑Iran conflict, which has unsettled...
Access Point Reveals $375M Capitalization for Studio 6 Conversion Initiative
Access Point announced a $375 million financing package to acquire and rebrand a 38‑hotel portfolio as Studio 6 properties. The deal includes $286 million of senior debt from Citi and a mezzanine layer funded by Access Point, secured on an accelerated timeline. The...
ET Capital Launches Cambridge Venture Index Fund 2 to Broaden Access to Deeptech Investing
ET Capital has launched the Cambridge Venture Index SEIS/EIS Fund 2 (CVIF2), targeting up to 20 early‑stage, science‑based companies emerging from the Cambridge and Oxford ecosystems. The fund builds on CVIF1, raised in 2025, and applies proprietary synthetic‑venture modeling that...
Have Software Returns Faltered over the Past Five Years?
Software-focused private equity funds, including those managed by Vista, Insight and PSG, have largely matched or outperformed their vintage peers over the past five years. Despite widespread concerns about slowing SaaS growth and valuation compression, the sector’s returns have remained...
Eka Ventures Brings AUM to $200m with Sophomore Health, Wellbeing and Sustainability VC Fund Close
UK‑based Eka Ventures has closed its second venture capital fund, raising £80 million (approximately $102 million). The new capital brings the firm’s total assets under management to about $200 million, making it the largest early‑stage impact VC in the United Kingdom focused on...
Blue Owl Nears Deal for Minority GP Stake Investment in BlackFin Capital Partners
Blue Owl Capital is on the verge of acquiring a minority stake in Paris‑based BlackFin Capital Partners through its GP Strategic Capital platform. BlackFin’s flagship buyout fund raised €1.8 billion (about $2 billion) for 2024, while its fintech‑focused vehicle secured €390 million (roughly...
EXEC: European Soccer E-Tailer Unisport Enters U.S. with WeGotSoccer Acquisition
European online football retailer Unisport Group has acquired Arocam, the U.S. parent of WeGotSoccer and TUDN Fan Shop, adding six physical stores to its portfolio. The acquisition positions Unisport for a rapid expansion in the United States ahead of the...
PE Firms Circle Pizza Hut and Papa John’s as Sale Processes Advance
Pizza Hut and Papa John’s are entering sale processes as private‑equity interest intensifies. Both chains face weakening demand, higher input costs and fierce competition, prompting owners to explore taking them private. Papa John’s has attracted a consortium led by Qatari‑backed...
Side Letter: Private Permira
Permira announced it will retain its equity stake in a flagship portfolio company, underscoring confidence in the asset’s growth prospects. The decision, disclosed via a side‑letter, aligns with a broader trend of managers seeking longer lock‑up periods and flexible redemption...
Energy Price Volatility Stalls Industrials Deals, Especially for Companies Newly in the Market
Energy price volatility is dampening industrial M&A activity, with a pronounced effect on firms that have recently entered the market. Houlihan Lokey’s Reed Anderson notes that buyers are polarizing into two groups: those proceeding with deals despite geopolitical risk, and...
This Firm Scores Public Funds Big Returns From Soccer Stragglers
Texas Tech University System’s endowment, led by Tim Barrett, has teamed up with London‑based Fasanara Capital to tap its niche private‑credit platform for sports financing. Fasanara, which manages about $6 billion, focuses on receivables‑backed loans to lower‑tier European soccer clubs, deploying...
£100M Boost for UK Healthtech as British Business Bank Backs Apposite Growth Fund
The British Business Bank has pledged a £100 million (≈$127 million) cornerstone commitment to Apposite Healthcare Growth I, marking its largest fund investment to date and its first partnership with Apposite Capital. The fund will back UK health‑technology scale‑ups across medical products,...
Danish Pension P+ Seeks GPs for Defence Investment
Danish pension fund P+, which oversees roughly $27 billion for academic retirees, is actively seeking general‑partner firms to source private‑equity investments in the defence sector. The move marks a strategic shift from its traditionally conservative allocations toward a high‑growth, resilient asset...
Belgian Sovereign Wealth Fund Takes Full Control of Lineas
The European Commission approved Belgian sovereign wealth fund SFPIM’s move to acquire full control of Lineas, Europe’s largest privately‑owned rail freight operator. SFPIM, already holding 46.42% of the company, will replace French private‑equity owner Argos Wityu’s 53.58% stake. The deal...
Bloomberg: Leveraged Lending Insights – 4/13/2026
The U.S. leveraged loan market remains subdued after a sharp issuance slowdown in February, with volatility curbing new deals. Through April 15, $9.4 billion has entered syndication, outpacing the prior three weeks combined but still far below the $30 billion weekly volumes seen...
Ellison’s Day at CinemaCon
Paramount Skydance’s $110 billion bid for Warner Bros. Discovery sparked antitrust warnings at a Senate hearing and in Hollywood circles. To calm concerns, CEO David Ellison appeared at CinemaCon and announced a 45‑day theatrical window for all Paramount titles, followed by a 90‑day...
David Zaslav and the Tyranny of Incentives
Paramount Global and Skydance are poised to acquire Warner Bros Discovery in a cash transaction that shareholders will vote on April 23. The deal, valued at a multi‑billion‑dollar cash offer, comes as Warner’s stock trades about 12 % below that price, underscoring the premium...
Windsor America Expands North Texas With Acquisition
Windsor America, a national leader in garage‑door solutions, announced the acquisition of Fireside Hearth & Home’s Dallas‑Fort Worth garage‑door operations, effective March 13. The acquired business will operate under the Jacobs Overhead Door brand, expanding Windsor’s service network across the...
Kingswood Goes Bigger with $2.25bn Target for Latest Complexity-Focused Fund
Kingswood Capital announced its fourth Opportunities Fund with a $2.25 billion target, roughly double the size of Fund III and 50 % larger than the $1.5 billion secured in the 2024 final close. The vehicle continues to focus on complex, multi‑asset transactions across the...
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Clearwater Analytics Holdings (CWAN) will hold a shareholder vote on May 6, 2026 to approve a merger with GT Silver BidCo, an affiliate of Permira Investors. If approved, each CWAN Class A share converts into a right to receive $24.55 in cash, translating to $2,455...
SS&C Intralinks DealCentre AI Vs. Datasite: Which Platform Is Built for the Future of Dealmaking?
The M&A technology market is moving beyond standalone virtual data rooms toward end‑to‑end dealmaking platforms that embed AI. SS&C Intralinks’ DealCentre AI offers a unified environment with native AI assistant Link, continuous workflows, and bank‑grade security, having supported over $37 trillion...
M&A in the High Protein Market
The UK high‑protein food sector is entering a phase of strategic consolidation, with firms like Yeo Valley and Bako Group formalising long‑standing supplier relationships through acquisitions. Private‑equity investors are shifting focus from crowded protein‑bar lines to savoury, functional snacks, exemplified...
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US Representative Maxwell Frost Protests Saudi Buyout of EA
U.S. Representative Maxwell Frost joined a Twitch livestream to denounce the proposed $55 billion leveraged buyout of Electronic Arts, which would give Saudi Arabia’s sovereign wealth fund a 93.4% stake. Frost warned the consortium—backed by the Saudi fund and Jared Kushner’s...
Citi, Wells, PNC CEOs Dismiss M&A Likelihood
Citi CEO Jane Fraser told investors on the first‑quarter earnings call that the bank is "crystal clear" about focusing solely on organic growth, dismissing recent speculation about a regional‑bank acquisition. Wells Fargo and PNC CEOs echoed the same stance, saying M&A...
Nordic Capital Mulls Another Multi-Asset CV
Nordic Capital is considering the creation of a new multi‑asset continuation vehicle (CV) valued between €2 billion and €2.5 billion. In U.S. dollars, the fund would represent roughly $2.2 billion to $2.75 billion of capital. The vehicle would focus on secondary market opportunities across...
Topspin on the Hunt for Differentiated Consumer Businesses; Thoma Bravo Merges HCSS Business with Nemetschek Unit
Topspin Capital is actively scouting differentiated consumer businesses, emphasizing brands with strong digital footprints and recurring revenue models. Meanwhile, Thoma Bravo announced the integration of its construction‑software portfolio, HCSS, into Nemetschek's architecture and engineering unit to create a unified AEC...
DOWNLOAD: Fundraising in Q1 Returns to Earth
Fundraising by unlisted, closed‑end infrastructure structures slipped to $26.4 bn in Q1, marking the second‑lowest total in the past six years. The dip signals heightened investor caution amid lingering macro‑uncertainty. However, a slate of large‑cap funds is slated to close over...
Thames Water 'Sleepwalking' Into Bad Deal for Customers, Investor Says
Thames Water, the UK’s largest water utility serving 16 million customers, is projected to run out of cash within the next 12 months. A consortium of its lenders has offered to write off roughly 30% of the company’s debt and inject...
BMS Makes a Beeline, Bringing 5 Assets to Biotech's $300M Precision Immunology Debut
Bristol Myers Squibb has spun out a new biotech, Beeline Medicines, backed by $300 million from Bain Capital and an initial portfolio of five assets. The company, led by former SpringWorks CEO Saqib Islam, will focus on precision therapies for autoimmune...
Better to Keep than Pass the Parcel – the Timely Case for CVs
John Garcia of AEA Investors and Painswick Capital argues that continuation vehicles (CVs) can be a strategic tool rather than a mechanism for manager entrenchment. While critics claim CVs delay exits and lock in managers, Garcia contends that transparent, fair...