Top Schools Reject Inevitable Private Capital in College Sports
LinkedIn keeps telling me that it is inevitable that private capital and equity will eventually wash over college sports its interesting that the kind of schools that would probably benefit the most from it keep turning it down though huh https://t.co/xcarFFZroG
Opco Sale Undervalued, Buyer Poised for 70% Upside
One of the most egregious privatisations in recent times. Opco is being stolen for free. Offer is dead on arrival. The buyer knew it and was likely prepared to substantially bump from day one. 40-70% upside on a bump. Full pitch on SSI...
Mattel Investor Pushes CEO Toward Privatization or Sale
JUST IN: A Mattel investor urges the CEO to evaluate going private or selling amid declining toy demand.
AI Turns Blindfolded Exit Multiple Guesswork Into Precision
"Modeling exit multiples has always involved a lot of guesswork, but now it feels like throwing at a dartboard blindfolded." Anonymous PE veteran (Bloomberg coverage of AI's impact on PE models, 2026)
Profitable Businesses Rarely Lose Value, yet Competition Evolves
I hope today’s 5 Minutes in the Lower Middle Market really gets you thinking about capital allocation: 1. Why a true investment in a proven, profitable, growing, well-managed business should rarely, if ever, go to zero. 2. Buying a great...
OPs Now Crisis Managers: Exit Deadlines Blur Value Creation
"Operating Partners aren't CROs. CROs manage crises. OPs build value." Fair as a textbook distinction. But DPI-pressed mid-market exits are now functionally indistinguishable from a soft crisis. When a fund partner says "we need an exit story by Q3 2027," the...
PE Shifts to CRO‑Style, Short‑Term Exit Focus
The pressure profile is now CRO-shaped, not value-creation-shaped. Per UpLevered, PE median hold periods stretched from 4.2 years (2010) to 6.8 years (2023). Per FTI's 2026 PE AI Radar, 95% of portco AI initiatives are "meeting their business case," but the...
Potential 65% Gain on CCRN After Failed Buyout
Absolute banger pitch from Long Cast on $CCRN 65% return if you timed the entry right after the previous buyout fell through. Stock being bought at $13.25/share. Previous offer was $19/share. Room for an overbid? Maybe.
J.M. Smucker Hires Goldman Sachs, May Divest Hostess
Axios Pro scoop from @Ryanbarwick: JM Smucker hired Goldman Sachs to launch a review of its portfolio. Hostess to hit the block? $SJM https://t.co/bTz1wCRTv8
KKR: High‑margin Compounder Trading at Fire‑sale Valuation
$KKR is a compounder at a fire sale price - AUM tripled since '19, on track to $1T+ by '30 - $5B+ in mgmt fees at 70% margins - Private credit fears overblown, direct lending is just 5% of AUM - Insiders bought $50M...
AI Deal Week: Private Takeovers, SpaceX Compute, Claude Code
LIVE at 12p PT/3p ET on a big deal week for AI @alextaubman and @generalcatalyst Madhu Namburi on Long Lake’s take-private of Amex GBT, latest deal in the AI roll-up craze that's now hitting Wall St Anthropic's @bcherny and @_catwu on the...
Reformat Proven Products, Unlock Billion‑Dollar Valuations
Chad Janis just sold his gummy company Gruns to Unilever for $1.2B. His thesis is taking a tried and true concept, and packaging it in a new format. Example: Greens powder works, but it's a frothy mess on your countertop. So Chad turned...
WSL Attracts Buyers Amid Olympic Boost and Digital Growth
Exclusive: The World Surf League could change hands. The WSL says it's seen "a significant amount of inbound interest." Talks are still early & could include smaller investments too. Olympic inclusion + digital media have given the sport new energy. https://t.co/rs5fUObUtC
Masa's Arm Stake Yields $172B Gain, Eclipsing
Masa took Arm private for $32B in 2016. Went pubic again in 2024 and market cap is now $234B. He owns 87%, which is around $204B. So, Masa is now up $172B on Arm, which is more than 10x the amount...
Software Multiple Compression Cuts NAV, Trading Remains Strong
HgT NAV down 5.4% as software multiple compression hits valuations, but underlying trading holds up Read the full report here: https://t.co/cImjwA0IPm https://t.co/5ACIO1hRHX
Real Estate Private Equity Generates Perpetual Income Streams
Why Real Estate Private Equity is the Perfect Perpetual Income Machine You want to be in a business where the sale you made 5 years ago still pays you today. Real estate private equity is the perfect example of this Here’s how...
Pantheon Raises $1bn, Exceeding Private Equity CFO Target
Pantheon closes inaugural private equity CFO above target at $1bn Read the full story here: https://t.co/ST8ZEEgU9h https://t.co/wODadQ0XuM
Trump Pushes State Capitalism, Eyes National Champion Merger
Trump's state capitalism w/American characteristics forges ahead. UAL CEO Scott Kirby suggested to Trump merger w/American could create "national champion." US officials discussed taking a stake, @MaggieSeverns @GavinBade @jdawsey1 @meridithmcgraw report. https://t.co/Vsiy5M5lbP
Pernod Ricard Resumes $32‑Share Bid for Brown‑Forman
BF/B $BF.B Pernod Ricard back in talks to acquire Brown-Forman for $32-share. Brown Forman working with Morgan Stanley Sazerac still involved. BETAVILLE
AI Startup for Non‑Tech Builders Attracts Hot Acquisition Interest
acquisitions are hot right now i sold my last co because of a tweet who'd be best to acquire bens bites 🤔 an ai company focusing on getting more people to build (non-technical folks is my jam)... think there's a few of those around...
Family Offices Favor Direct Deals, Trust Beats Size
5 Minutes in the Lower Middle Market 1. Family offices are shifting away from PE funds toward direct investing 2. Relationships and trust as a competitive advantage 3. How independent sponsors beat larger PE firms in deals 0:00 Steven Spielberg’s lesson...
Catalyst Poised as Florida’s First Multi‑Billion Biotech Exit
Is Catalyst (based in Coral Gables) the first Florida biotech to have a multi billion exit?
Paramount's WBD Takeover Stalls; Epic Not yet Unfolding
Warner Bros. Discovery's deal to be acquired by Paramount is supposed to create a behemoth of a company that includes everything from CBS to the "Lord of the Rings" franchise. But as Aragorn said in that massive epic, today is...
Lacob's Padres Bid Hinged on 2027 Season Cancellation
At a @Sportico event today in SF, Joe Lacob said his bid to buy the @Padres assumed that the entire 2027 @MLB season would likely be cancelled due to labor strife. https://t.co/Rqsi7w7CNX
From Island Roots to Building His Own Empire
Had a pre-call with a podcast guest. He comes from a very tiny island, worked for a private equity firm, then went to HBS and met his cofounder. So far they've done over 3 acquisitions. We record, hopefully in person, in early...
PE‑backed SaaS Stuck; Continuation Funds Become Lifeline
7% of PE-owned software companies in NA have been held 5+ years. 11% have been held 7+. The exit market for these names doesn’t exist: > Can’t be sold to strategics (their stock is down) > Can’t be sold to PE peers...
Awaiting Merger Terms Before Tesla Shareholders Decide
Let's see - whether there is a merger - at what conditions - and what Tesla shareholders then vote for All these questions will be addressed when we know more.
Sony Nears $4B Catalog Deal Amid Blackstone Dispute
Sony Music is on the verge of one of the largest catalog acquisitions ever: nearly $4B for songs from Justin Bieber, Neil Young, Justin Timberlake, etc. Other parties are crying foul, saying Blackstone wouldn’t listen to their offers. https://t.co/F6dTuBwJke
Turner Mulls CNN Reacquisition, Malone Reveals in Memoir
As John Malone wrote in his memoir, Ted Turner had contemplated trying to buy back CNN as recently as 2018 https://t.co/Ld8BHK4yPG
Anthropic, OpenAI Mirror Enterprise JV Playbook, Signaling Market Shift
Anthropic and OpenAI announced enterprise joint ventures on the exact same day. Both with private equity firms. Both using the same playbook. That's a market signal.
KKR Founders Reflect on Private‑market Boom and Looming Crunch
The FT spoke to Henry Kravis and George Robert as KKR turned 50. We spoke about the private markets they helped create and which now face a crunch, and how their once rebel partnership had changed the corporate mainstream before ultimately...
Ex‑founders Crave Ownership: Buying Businesses to Build From Within
Every now and then, I get inbound from someone who - has built and sold a tech firm, or was the founder of a VC backed startup - and then took some time off (advisory, consultancy, or angel investing). Just to...
Durable Demand, Relationships, and Boring Cash‑generating Businesses Win
5 Minutes in the Lower Middle Market Today's takeaways: 1. Boring businesses that keep printing cash (@BoringBiz_) 2. The best networkers don’t feel like networkers 3. Why scripted private equity outreach fails (@PadraicMcC) 4. The old rules still win: - Own businesses with...
Tesla's $2B Lucid Purchase Likely Terrible Amid $1B Quarterly Losses
At a market cap of just $2 billion, should $TSLA buy Lucid for shits n gigs? Probably a terrible idea considering they’re losing $1 billion a quarter, but interesting to consider.
KKR Marks 50 Years, Says Investing Was Simpler
KKR at 50: ‘It used to be easy in the old days’ https://t.co/E3dXNSIsfP via @ft
Endowments Boost Private Market Allocation by 22.4%
Over the past 20 years, large endowments have upped their VC/PE/PC allocation by 22.4 percentage points Mainly at the expense of public equity and fixed income... via @neubergerberman https://t.co/hR6yaFPBn7
Top Private‑market Secondaries Now Command Premium over Primaries
A wild dynamic in private markets right now: For top businesses, secondaries are trading at a premium to primary rounds Historically, secondaries were common shares, which traded at a 10%-20% discount But it's completely flipped for top businesses that people want to own
Private Equity Giants Partner with Google for AI Tools
Blackstone, KKR, and EQT in talks with Google over AI tooling for portfolio companies Read more here: https://t.co/kBOzvs0ZcO https://t.co/31e5K6WnEg
UMB Financial Reaffirms M&A Plans; Blue Owl Declines Offer
In Play Today: UMB Financial $UMBF reiterates future M&A requirements; Blue Owl rejects buyout offer | S&P Global Market Intelligence https://t.co/qDTqHhJTSr
Half‑stock, Half‑cash Acquisition Offer
“So, is this 1/2 stock and 1/2 cash acquisition offer in the room with us right now?” https://t.co/H1JATPZDZp
James Murdoch Seeks to Buy New York Magazine
Rupert once owned New York magazine, now estranged son James Murdoch is in talks to buy it, according to @Jtoonkel https://t.co/6IopKH2Akp via @WSJ
Massive $84T Wealth Transfer: Buy Profitable Businesses Now
Entrepreneurs: $84 trillion in wealth is being transferred as we speak. $5 trillion from small businesses alone. Acquire existing profitable businesses 🙏🏾
IREN's Mirantis Acquisition Could Lift Its Benchmark Rating
Definitely have to see the $IREN acquisition of Mirantis as a way to move them up the @SemiAnalysis_ benchmark list. Time will tell, but I'm sure this will move them from not-recommended. WIth all neoclouds' ability to leverage software for...
Lattice to Buy AMI for $1.65B, Targeting $200M 2026 Revenue
News: @latticesemi announced its agreement to acquire @ami_bios, aka American Megatrands, for $1.65b ($1b cash, $650m stock). AMI is expected to revenue $200m in 2026. Official PR: https://t.co/UUXittYx9j The whole Megatrends vs Megatrands debacle from @Patrick1Kennedy: https://t.co/n6IiHQsGg0
CVC Sells Hermes to Loomis for $433M
CVC exits cash logistics specialist Hermes in $433m sale to Loomis Read more here: https://t.co/k0F0CruFmu https://t.co/OdEex5wVol
Full Asset Acquisitions Avoid Margin Drag of Royalties
Seedy is not long enough $ABVX, however I’m old enough to remember when $ABBV spent $21B to buy half of ibrutinib.
Cohen's Half‑Cash, Half‑Stock Pitch Stumps Analysts
The memes are out for Gamestock Ryan Cohen’s infamous appearance in CNBC regarding his acquisition of EBay. For context- the CEO is trying to pursue eBay who is 4x its market capital and with under $10bn company cash and $20bn cash...
From Gibson’s LBO to Cohen’s eBay Juggernaut
Wesray bought Gibson’s Greetings in 1982 with $1m of capital when the company was worth $80m. No one thought it was possible and it exploded the LBO industry. I suspect Ryan Cohen lands Ebay and builds a juggernaut
Announces Bid to Acquire eBay, Refuses Questions
I’d like to announce I am bidding to acquire eBay I will take no further questions about the matter.
GameStop's eBay Bid Driven by CEO's Market‑cap Incentives
Why is GameStop trying to buy Ebay? A company over 4x the size. As always, follow the incentives... It's a lot easier for a CEO to be in the money on his ginormous options package if it's based mostly on market cap. https://t.co/1xDawEaAzI