KKR’s Goes Down Under with $1.1B Zenith Energy Deal
Plus: We outline portco M&A and exits from last week.
Where the Ultrarich Are Flocking: The Surprising Reasons Behind Their Moves
High-net-worth individuals (HNWIs) typically have more than $1 million in net worth, though definitions vary.
The United States was the world’s largest private wealth hub in 2024, holding over a third of global liquid wealth and 37% of all millionaires.
The 2024 election has threatened this dominance, with the number of American millionaires looking to relocate doubling year over year in Q1 2025.
Wealthy Americans are drawn to European residency programs but are also seeking citizenship opportunities in nontraditional countries.
The United States was the world’s largest private wealth hub in 2024, holding over a third of global liquid wealth and 37% of all millionaires.
The 2024 election has threatened this dominance, with the number of American millionaires looking to relocate doubling year over year in Q1 2025.
Wealthy Americans are drawn to European residency programs but are also seeking citizenship opportunities in nontraditional countries.
SPECIAL EDITION: A PE POV on NY Tech Week
Plus: We outline portco M&A and exits from last week.
How Owning Wine Stock Can Uncork Unexpected Perks
Shareholder perks in the wine industry are growing, offering investors discounts, tastings, and exclusive access to special events.
Most wine companies are privately held, and even public ones often keep perk details buried or undisclosed. However, at least four public companies currently offer tangible benefits to qualifying shareholders.
As companies recognize retail investors’ brand loyalty, these programs are becoming more common, though details vary and are often hard to track.
Most wine companies are privately held, and even public ones often keep perk details buried or undisclosed. However, at least four public companies currently offer tangible benefits to qualifying shareholders.
As companies recognize retail investors’ brand loyalty, these programs are becoming more common, though details vary and are often hard to track.
Gemspring Buys Legacy Chemicals Business From Goodyear for $650M
Plus: We outline portco M&A and exits from last week.
Can PE Firms Own Utilities and Data Centers? Behind Blackstone’s $11.5B TXNM Take-Private
Plus: We outline portco M&A and exits from last week.
3G Rewrites Its Operational Ethos with $9.4B Skechers Take-Private
Plus: We outline portco M&A and exits from last week.
PE-Backed Companies Dominated Q1 2025 Debt Defaults
According to Fitch Ratings, 15 of the 23 leveraged loan and high yield debt defaults in Q1 were by private equity-owned companies. Portcos also dominated large bankruptcies.
Inflated Infra NAVs Cast Shadow Over Secondaries Transactions
The private infrastructure asset class has a problem with net asset valuations. GPs self-report their portfolios’ worth, third-party accounting firms verify this work, and LPs make investment decisions based on these figures — but many question the methodologies used for these calculations. Says one executive, “It’s a sham.”
CVC Dreams Big with $5B Dream Games Acquisition
Plus: We outline portco M&A and exits from last week.
Thoma Bravo’s $10.5B Boeing Deal Braces for Turbulence
Plus: Fitch downgrades ‘deteriorating’ global leveraged finance market and we outline portco M&A and exits from last week.
KKR’s $3.1B OSTTRA Play is Firm’s First Foray into Post-Trade Services
Plus: We outline portco M&A and exits from last week.
Artificial Intelligence May Slash Operating Teams
Fewer operating professionals will be required to get the same (or better) outputs at the portfolio company level.
Mega Merger? Behind Bain’s 30x EBIDTA Price Tag on HealthEdge
Plus: We outline portco M&A and exits from last week.
Colonial Joins Brookfield’s Growing Pipeline Portfolio in $9B Deal
Plus: We argue that data centers are a bubble and outline portco M&A and exits from last week.
Lessons Learned from 3G’s Historic Burger King Turnaround
Recent quarters have been a bloodbath for PE-backed restaurant chains. 3G’s stewardship of Burger King offers insights for operators.
Why Morgan Stanley Missed the $6B Mark on its Fourth Infra Vintage
Morgan Stanley (NYSE: MS) launched the fourth vintage of its flagship infrastructure fund series, North Haven Infrastructure Partners IV, in 2022. By March 2023, the fund had raised $4 billion. It stayed in the market for another two years, stagnant. Here’s what happened.
Clearlake’s $7.7B Dun & Bradstreet Deal Among Largest B2B Data Plays
Plus: We warn that infrastructure portco valuations are at risk with the impending IRA repeal and outline portco M&A and exits from last week.
Sixth Street’s $3.8B Giants Deal May Cost Fans
Plus: We argue why the IRS should keep the ‘DA’ in ‘EBITDA’ and outline portco M&A and exits from last week.
Why Most Portcos Are Far From Being ‘AI-Ready’
GPs’ expectations for generative artificial intelligence to drive business growth are high. Do they match portcos’ realities?
Burgeoning Small Cells Low Risk? Behind EQT’s $4.25B Crown Castle Deal
Plus: We doubt anti-ESG crusaders will make real inroads with private markets and outline portco M&A and exits from last week.
Higher US Employment Litigation Risk for Article 8 and 9 SFDR Funds
The EU law’s operational stipulations for sponsors could prove to be a double-edged sword at the portfolio company level — especially during Trump 2.0.
Sycamore to Fund $24B Walgreens Buyout with 80%+ Debt
The industry average for take-privates in Q4 2024 was 53%. Experts worry this puts Walgreens at a high risk of default and bankruptcy.
Analyst Predicts Sycamore to Strip Assets, Close Stores at Walgreens
Plus: We introduce Portco News and outline portco M&A and exits from last week.
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