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AMERICAS
B-FLEXION-backed Paratek Pharmaceuticals, a commercial-stage specialty pharmaceutical company, completed the merger with Radius Health, a commercial-stage biopharmaceutical company focused on bone health and related therapeutic areas, according to press releases. Financial terms were not disclosed.
B-FLEXION and Paratek Pharmaceuticals were advised by Lazard and Skadden Arps Slate Meagher & Flom (led by Dohyun Kim). Paratek Pharmaceuticals was also advised by ScientPR (led by Adam Silverstein) and Wilmington Trust. Debt financing was provided by Blackstone Credit, Sixth Street Partners, Oaktree Capital Management, Silver Point Capital and Pharmakon Advisors. Blackstone Credit was advised by Latham & Watkins (led by Stelios Saffos, Haim Zaltzman, Peter J. Sluka and Michael H. Waldman), according to press releases and MergerLinks data.
Audax Private Equity, an investment firm that backs North American middle‑market companies, completed the acquisition of AKAM, a provider of property management and real estate services to both residential and commercial properties, according to press releases. Financial terms were not disclosed.
Audax Private Equity was advised by Brown Gibbons Lang & Company, Robert W Baird, Ropes & Gray and Gasthalter & Co. AKAM and Nautic was advised by Griffin Financial Group, William Blair & Co and Troutman Pepper Locke, according to press releases.
Tinicum, a private investment firm, completed the acquisition of the aerospace segment from TriMas, a company that designs and manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets, for $1.45bn, according to press releases
Eaton, an intelligent power management company, completed the acquisition of the thermal business from Goldman Sachs-backed Boyd, a global innovator in engineered materials and thermal solutions, for $9.5bn, according to press releases.
Eaton was advised by Jefferies & Company (led by Mark Hudson) and Paul Weiss Rifkind Wharton & Garrison (led by Dotun Obadina). Boyd was advised by Goldman Sachs, JP Morgan (led by Ked Fisseha), Davis Polk & Wardwell (led by John D. Amorosi) and ICR (led by Devin Broda), according to MergerLinks data and press releases.
Warburg Pincus, a private equity firm, agreed to acquire a majority stake in TheGuarantors, a New York-based fintech company providing insurance products and financial solutions for the real estate market, according to press releases. Financial terms were not disclosed.
Warburg Pincus is advised by Howden, Greenberg Traurig, Paul Weiss Rifkind Wharton & Garrison and Wachtell Lipton Rosen & Katz (led by Mark F. Veblen and Jenna E. Levine). TheGuarantors is advised by Evercore and Cooley, according to press releases and MergerLinks data.
GoldState Music and TA Associates, private equity firms, completed the investment in Too Lost, an all‑in‑one music distribution and rights‑management platform, according to press releases. Financial terms were not disclosed.
Too Lost was advised by Jegi Leonis and Paul Hastings. TA Associates was advised by EisnerAmper, Grant Thornton, Ropes & Gray and Deloitte, according to press releases.
Fulgent Genetics, a technology-based company active in laboratory services and therapy development, completed the acquisition of selected assets of Bako Diagnostics, a national provider of specialty laboratory testing services, and StrataDx, a premier national diagnostic laboratory specializing in high-level anatomic pathology services, from Consonance Capital, a healthcare investment firm, for $56.9m, according to press releases.
Fulgent Genetics was advised by Piper Sandler, Mintz Levin and Blueshirt Group (led by Lauren Sloane). Bako Diagnostics and StrataDx were advised by EV Health Partners. Consonance Capital was advised by EV Health Partners and Latham & Watkins (led by Edmond R. Parhami and David Allinson), according to press releases and MergerLinks data.
Pacific Avenue Capital Partners, a global private equity firm, completed the acquisition of Care.com, one of the largest online marketplaces for finding family care and care jobs, from IAC, an American holding company, for $320m, according to press releases.
Pacific Avenue Capital Partners was advised by Moelis & Co, KPMG and Weil Gotshal and Manges (led by Kyle C Krpata). IAC was advised by JP Morgan and Latham & Watkins (led by Amber Banks and Thomas Engelhardt), according to press releases and MergerLinks data.
Bain Capital, a private investment firm, completed an investment in Duravent Group, a climate technology manufacturer, according to press releases. Financial terms were not disclosed.
Bain Capital was advised by Jefferies & Company and Weil Gotshal & Manges (led by Timothy Burns and Ramona Nee). Duravent Group was advised by JP Morgan, Robert W Baird and Paul Hastings, according to press releases.
Oaktree Capital Management, a global asset management firm, agreed to acquire a majority stake in Atlantic Coast Life Insurance, a provider of life insurance and annuity products, from Advantage Capital Holdings, an insurance and financial services company, according to press releases. Financial terms are not disclosed.
Oaktree is advised by Goldman Sachs, and Debevoise & Plimpton. A-CAP is advised by Moelis & Co, Michelman & Robinson, and Croke Fairchild Duarte & Beres, according to press releases.
Prime Infrastructure, an infrastructure developer, agreed to acquire SierraCol Energy, an independent oil and gas exploration and production company, from Carlyle, a private equity company, according to press releases. Financial terms were not disclosed.
Prime Infrastructure is advised by Lenz & Staehelin (led by Simone Ehrsam) and Milbank. Carlyle is advised by Bank of America and Latham & Watkins (led by Nick Cline), according to press releases.
Sterling Investment Partners, a middle-market private equity firm, completed the acquisition of Cyber Advisors, a provider of cybersecurity and managed IT services, according to press releases. Financial terms were not disclosed.
Sterling Investment Partners was advised by Dechert, Seyfarth Shaw and Alvarez & Marsal. Cyber Advisors was advised by Robert W Baird, according to press releases.
Charlesbank Capital Partners, a private equity investment firm, agreed to invest in Overbay Capital Partners, an alternative asset manager focused on the secondaries market, according to press releases. Financial terms are not disclosed.
Overbay Capital Partners is advised by Goodmans. Charlesbank Capital Partners is advised by Kirkland & Ellis, Stikeman Elliott, and Prosek, according to press releases.
IHC-backed Judan Financial, an AI-enabled North Star platform for global financial services, completed the acquisition of a 50.1% stake in Alpha Wave Global, an investment management firm, according to press releases. Financial terms were not disclosed.
Alpha Wave was advised by Paul Hastings (led by Chad Vance). Judan Financial was advised by Skadden Arps Slate Meagher & Flom (led by Andrea Spadacini), according to MergerLinks data and press releases.
Inverness Graham, an operationally focused private investment firm, completed the acquisition of Axcel Learning, a professional education platform that focuses on training the modern workforce, particularly in industries facing talent shortages, according to press releases. Financial terms were not disclosed.
Inverness Graham was advised by McDermott Will & Schulte. Axcel Learning was advised by Houlihan Lokey, according to press releases.
TA Associates-backed PairSoft, a provider of procure-to-pay automation and payment solutions, completed the acquisition of Nimbello, a cloud-based accounts payable automation platform, according to press releases. Financial terms were not disclosed.
Nimbello was advised by Reed Smith and Jegi Leonis, according to press releases.
Abacus Global Management, a financial services company, agreed to acquire a minority stake in Manning & Napier, a diversified wealth and asset management firm, for $53m, according to press releases.
Manning & Napier is advised by Berkshire Global Advisors, and Morgan Lewis & Bockius, according to press releases.
Graham Partners-backed Tulkoff, a manufacturer of custom sauces, dips, and dressings, completed the acquisition of Celtrade, a manufacturer of sauces, marinades, condiments and dressings, according to press releases. Financial terms were not disclosed.
RiverGlade Capital-backed James River Home Health, a provider of personalized in-home skilled nursing, therapy, and chronic disease management services, completed the acquisition of Golden Rule Hospice, a hospice located in Atlanta, according to press releases. Financial terms were not disclosed.
Golden Rule Hospice was advised by Braff Group (led by Mark Kulik), according to press releases.
Bitmine, a digital asset and technology company, ARK Invest, an investment management firm, and Kraken, a cryptocurrency exchange, agreed to invest $125m in Eightco Holdings, an investment company pivoting toward AI-driven digital identity, blockchain infrastructure, and high-conviction digital assets, according to press releases.
Eightco is advised by Winston & Strawn (led by Michael Blankenship), according to MergerLinks data.
3M, an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods, and Bain Capital, a private investment firm, agreed to acquire Madison Fire & Rescue, a company specialising in rescue technology and fire suppression, from Madison Industries, a conglomerate specializing in acquiring and growing filtration, medical equipment, and industrial solutions companies, for $1.95bn, according to press releases.
3M is advised by Morgan Stanley, according to MergerLinks data.
Jupiter Energy Investor, a private investment vehicle, agreed to acquire Bayonne Energy Center, a 660-megawatt dual-fuel power generation facility, from Morgan Stanley Infrastructure Partners, the private infrastructure investment arm of Morgan Stanley Investment Management, according to press releases. Financial terms were not disclosed.
Morgan Stanley Infrastructure Partners is advised by Jefferies & Company, according to press releases.
3M, an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods, and Bain Capital, a private investment firm, to form a joint venture focused on safety, fire-rescue, and suppression solutions for firefighters, first responders, and industrial workers, in a $700m deal, according to press releases.
3M is advised by Morgan Stanley, according to MergerLinks data.
DFJ Growth, a venture capital firm, and Northzone, a venture capital fund, led a $120m Series C round in XBOW, an autonomous offensive security company, with participation from Sofina, Alkeon Capital, Altimeter, NFDG Ventures and Hongshan Capital, according to press releases.
WPCG and HGGC-backed Waverly Advisors, a fee‑only, independent registered investment advisor, completed the acquisition of McBride Financial Advisors, a registered investment advisor, according to press releases. Financial terms were not disclosed.
Stephens Group-backed Astro Pak, a high purity and precision cleaning services provider, completed the acquisition of Clean Sciences, a provider of specialized precision cleaning for semiconductor equipment manufacturers, aerospace & defense, medical, biomedical, optics, and electronic industries, according to press releases. Financial terms were not disclosed.
OpenAI in talks for $10bn joint venture with PE firms. ( Bloomberg)
OpenAI is in advanced discussions to form a joint venture with private‑equity firms including TPG, Brookfield Asset Management and Bain Capital that would focus on expanding adoption of its artificial‑intelligence software.
The proposed joint venture would have a pre‑money valuation of about $10bn, with the private‑equity firms committing roughly $4bn to the project. Terms are still under discussion and have not been finalized.
Canada Pension Plan Investment Board seeks to sell $1.5bn of Asia PE assets. ( Bloomberg)
Canada Pension Plan Investment Board is preparing to sell around $1.5bn of its Asia private‑equity fund stakes. The pension fund began seeking advisers earlier in 2026 to help divest positions acquired in the mid‑2010s as it rebalances portfolio exposure.
The potential sale would reduce CPPIB’s commitments to older Asia vintages and streamline its private‑equity holdings. Discussions remain confidential, and no final decisions have been made.
Papa John’s draws fresh takeover interest from a Qatari‑backed fund. ( WSJ)
A Qatari‑backed investment fund has submitted a bid to take pizza chain Papa John’s International private.
Papa John’s is reviewing the offer from Irth Capital Management, which is backed by Brookfield Asset Management.
Dave’s Hot Chicken, supported by Drake, is weighing a sale of its European operations. ( Bloomberg)
Dave’s Hot Chicken — the fried‑chicken chain backed by Canadian rapper Drake — is exploring a sale of its European franchise.
Azzurri Group, the private‑equity‑owned operator behind Zizzi and Coco di Mama, is preparing to put the UK and European rights to Dave’s Hot Chicken on the market later this year.
Elliott builds a stake in Invisalign-maker Align Technology. ( Bloomberg)
Elliott Investment Management has built a significant stake in Align Technology, the maker of Invisalign teeth-straightening products, and is planning to engage with the company to boost its share price.
The activist investor’s position makes it one of Align’s largest shareholders.
Silver Lake-backed Relativity taps banks for US IPO. ( Bloomberg)
Relativity, a legal data firm backed by Silver Lake, is preparing for an initial public offering that could value the company at around $4bn.
The Chicago-based business is working with Goldman Sachs, JP Morgan, and Barclays on the planned share sale, which could take place as soon as the first half of the year and raise about $750m.
Tesla converts its xAI holding into a SpaceX share as the IPO approaches. ( Bloomberg)
Tesla has received regulatory approval to convert its investment in Elon Musk’s xAI into a small stake in SpaceX, tightening the financial links between Musk’s two largest companies ahead of SpaceX’s anticipated IPO.
Filings with the US Federal Trade Commission list Tesla as acquiring a stake in SpaceX from Musk, who leads both firms. The March 11 documents also show Musk selling shares to investors including Valor Equity Partners and DFJ Growth.
EMEA
Victory Capital Holdings sent on the 17th of March to the Special Committee of the Board of Directors of Janus Henderson a revised proposal to acquire Janus Henderson. Under the revised proposal, Janus Henderson shareholders would receive $40.00 per share in cash and a fixed exchange ratio of 0.250 shares of Victory Capital common stock for each Janus Henderson share owned, translating to 31% ownership in a combined asset manager.
Victory Capital is advised by PJT Partners, Willkie Farr & Gallagher and Joele Frank (led by Andrew Brimmer). Janus Henderson is advised by Morgan Stanley, according to press releases and MergerLinks data.
Nordic Capital, a private equity firm, agreed to acquire a majority stake in TradingHub, a provider of trade surveillance technology for global financial institutions, according to press releases. Financial terms were not disclosed.
Nordic Capital is advised by Simpson Thacher & Bartlett (led by James Howe, James Campisi and Alex Ward). TradingHub is advised by Evercore, according to press releases and MergerLinks data.
Bain Capital-backed Valeo Foods Group, an Irish multinational producer of branded food and beverage products, agreed to acquire Prestige-96, a food producing company in Bulgaria, according to press releases. Financial terms were not disclosed.
Valeo Foods Group is advised by Food Strategy Associates and Reputation (led by Robert Brown), according to press releases and MergerLinks data.
Motive Partners, a private investment firm, and Apollo, a global alternative asset manager, completed the merger with Alchelyst, a full-service fund administrator, and Lyra Client Solutions, a client servicing organization, according to press releases. Financial terms were not disclosed.
Italian yacht maker Ferretti said that an independent financial adviser has deemed Czech investment group KKCG’s proposal to double its stake in the company “not attractive.”
Ferretti added that the independent board committee reviewing the bid agreed with the adviser’s assessment and has recommended that independent shareholders reject the offer.
Apollo in talks for stake in Syntegon at €4bn value. ( Bloomberg)
Apollo Global Management is in advanced talks to acquire a significant minority stake in Syntegon, the German packaging‑machinery manufacturer owned by CVC Capital Partners. Apollo has moved ahead of other private‑equity bidders, with a decision possible in the coming days.
A deal is expected to value Syntegon at up to €4bn ($4.6bn), though final terms have not yet been agreed. The discussions remain private, and there is no certainty that a transaction will be completed.
Spanish youth hostel group eyes London real estate deals. ( Bloomberg)
Room00, a Spanish youth hostel operator backed by King Street Capital Management, plans to enter the UK market with property acquisitions in central London.
The Madrid‑based company aims to invest €50m ($57.5m) to €80m ($91.8m) to acquire five sites in Bloomsbury, Paddington, St Paul’s and Victoria. The purchases form part of a broader expansion plan that includes investing €350m ($401.6m) to €420m ($481.9m) in 2026 across Spain, Portugal, Italy and London.
APAC
Bain Capital, a private investment firm, agreed to acquire the wealth management business of Perpetual, a financial services company, for AUD550m ($384m), according to press releases.
Perpetual is advised by Barrenjoey Capital Partners, King & Wood Mallesons and Sodali & Co (led by Jon Snowball), according to press releases.
Korean Air, the flag carrier of South Korea, agreed to acquire the remaining 80% stake in its in-flight catering and duty-free retail operations from Hahn & Co, a private equity investment firm, for $510m, according to press releases.
Korean Air is advised by UBS, according to MergerLinks data.
A group of investors led by LeapFrog Investments, a private investment firm, completed a $95m investment in ReNew Energy, a renewable energy company, according to press releases.
KKR, an investment firm, agreed to acquire a majority stake in Allfleet, an electric bus operating platform, and a minority stake in PMI Electro, a manufacturer of electric commercial vehicles in India, for $310m, according to press releases.
GIC mulls several hundred billion yen Tokyo property sale. ( Bloomberg)
GIC is considering selling its stake in the office portion of Pacific Century Place Marunouchi in central Tokyo, a package expected to fetch several hundred billion JPY. The Singapore sovereign wealth fund plans to market floors 8 to 31 of the building.
GIC originally acquired the asset in 2014 for about JPY180bn ($1.1bn) from Secured Capital Investment Management, then backed by PAG. Discussions are preliminary, and no sale process has formally begun.
BNP Cardif is said to near deal for Warburg Pincus stake in IndiaFirst Life Insurance. ( Bloomberg)
BNP Paribas’s insurance arm is close to an agreement to acquire a minority stake in IndiaFirst Life Insurance, a move that would expand the bank’s presence in South Asia.
BNP Paribas Cardif is in advanced discussions to buy Warburg Pincus’ 26% stake in the insurer in a transaction that could value IndiaFirst at about $350m. Talks are ongoing and the terms have not yet been finalized.
LVMH-backed private equity firm targets $313m Japan deals. ( Bloomberg)
L Catterton, the private‑equity firm backed by LVMH, plans to invest about JPY50bn ($313m) in five Japanese consumer companies over the next three years. The firm will deploy a mix of equity and debt.
The investments will target sectors where L Catterton is active globally, including cosmetics, food, pet care, and restaurants. The firm has roughly JPY50bn ($313m) in available deal capacity for the strategy.
Elliott takes 'significant' stake in Japan shipper Mitsui OSK. ( Reuters)
Elliott Investment Management has taken a significant stake in Mitsui OSK Lines and is urging the Japanese shipping company to improve shareholder returns and capital efficiency.
The company’s shares extended gains and rose about 12% after Reuters reported the investment, which Elliott later confirmed in a statement.
Singtel’s venture arm unveils $250m fund to boost AI use. ( DealStreetAsia)
Singtel Innov8, the corporate venture arm of Singtel Group, has announced a $250m AI Growth Fund to invest in high-growth AI startups globally and accelerate applied AI deployment across the group. The fund, which adds to Innov8's existing $250m evergreen fund, will target growth-stage AI companies in areas such as customer engagement, network operations, cybersecurity, IT automation, and enterprise Al platforms.
Beyond capital, Innov8 will facilitate collaborations between portfolio companies and Singtel Group units to test and scale solutions in real-world environments.
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