Ares completes the acquisition of GCP International from GLP Capital Partners for $3.7bn.

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AMERICAS

Peak Rock Capital completes the acquisition of BrightStar Care.

Peak Rock Capital, a middle-market private equity firm, completed the acquisition of BrightStar Care, a franchisor of home care services, according to press releases. Finanial terms were not disclosed.

Peak Rock Capital was advised by Lincoln International, McDermott Will & Emery and Kekst CNC (led by Daniel Yunger). BrightStar Care was advised by Boxwood Partners, JP Morgan and Latham & Watkins, according to press releases.

Fiserv completes the acquisition of Payfare for CAD201m.

Fiserv, a global provider of payments and financial services technology, completed the acquisition of Payfare, a provider of program management solutions with a particular focus on new economy workforces for CAD201m ($139m), according to press releases.

Payfare was advised by Keefe Bruyette & Woods (led by Joseph Berry and Paul McCaffery), Borden Ladner Gervais and Dentons. Fiserv was advised by Blake Cassels & Graydon and Foley & Lardner, according to press releases and MergerLinks data.

SSR Mining completes the acquisition of the Cripple Creek & Victor Gold Mine from Newmont for $275m.

SSR Mining, a gold, silver, copper, lead and zinc producer, completed the acquisition of the Cripple Creek & Victor Gold Mine from Newmont, a gold mining company, for $275m, according to press releases.

SSR Mining was advised by Scotiabank, Holland & Hart (led by Claire Rosston) and Stikeman Elliott. Newmont was advised by BMO Capital Markets and Davis Graham & Stubbs, according to press releases and MergerLinks data.

WE Soda to acquire the soda ash manufacturing and related operations of Genesis Energy for $1.425bn.

WE Soda, one of the world's largest producer of natural soda ash, agreed to acquire the soda ash manufacturing and related operations of Genesis Energy, a diversified midstream energy master limited partnership headquartered in Houston, Texas, for $1.425bn, according to press releases.

Genesis Energy is advised by Citigroup and Paul Hastings, according to press releases.

Synopsys kicks off bond sale to help fund purchase of Ansys. (Bloomberg)

Synopsys has entered the US high-grade bond market to help finance its $34bn acquisition of Ansys. The offering is aimed at raising capital for the chip-design company’s largest-ever deal.

The company plans to issue bonds in up to six parts, with the longest portion, a 30-year note, potentially yielding around 1.5 percentage points over Treasuries.

Principal closes $3.64bn capital raise for Data Center Growth & Income Fund. (Press Release)

Principal Asset Management has completed the final investor close for its Principal Data Center Growth & Income Fund, securing $3.64bn in capital, surpassing its initial target. The fund focuses on developing a portfolio of hyperscale data center projects across the United States.

The fund is expected to support more than $8bn in hyperscale development assets in partnership with Stream Data Centers, a digital infrastructure provider. This marks Principal’s third discretionary data center-focused investment vehicle.

Garnett Station Partners closes Fund 5.0 with $1.2bn in committed capital. (Press Release)

Garnett Station Partners has successfully closed its GSP 5.0 Fund, with $1.2bn in committed capital. The fund was significantly oversubscribed and reached its hard cap within four months, attracting commitments from both new and existing investors.

With Fund 5, the firm will continue its investment strategy, focusing on scaling businesses in consumer and business services, health & wellness, automotive, and food & beverage sectors. Garnett Station Partners now manages over $3.5bn in assets.

Kroger CEO Rodney McMullen resigns after investigation into personal conduct. (Press Release)

Chief Executive Rodney McMullen has resigned following a board investigation into his personal conduct, ending a career of more than four decades at the grocery chain.

Kroger stated that while the conduct was unrelated to business operations, it was inconsistent with the company’s policy on business ethics. Lead director Ronald Sargent has been appointed as chairman and interim CEO.

EMEA

SAPA completes the acquisition of Megatech Industries.

SAPA, a motor vehicle manufacturing firm, completed the acquisition of Megatech Industries, a European player active in the plastic injection moulding business for the mobility industry, according to press releases. Financial terms were not disclosed.

SAPA was advised by Ernst & Young (led by Alessandro Bucci), Oaklins (led by Gianluca Magnani), Gianni & Origoni (led by Gabriella Covino) and Wolf Theiss (led by Florian Kusznier and Andreas Schmid). Megatech was advised by Clearwater and E+H Rechtsanwälte, according to press releases.

Novo to invest in TA Associates-backed Biocomposites.

Novo, Novo Nordisk Foundation's wholly owned holding company, agreed to invest in TA Associates-backed Biocomposites, an international medical devices company that engineers, manufactures and markets leading products for use in infection management in bone and soft tissue, according to press releases. Financial terms were not disclosed.

Biocomposites and TA Associates are advised by Alvarez & Marsal, Jamieson, Jefferies & Company, Goodwin Procter, Squire Patton Boggs and KPMG. Novo is advised by Kirkland & Ellis and Linklaters, according to press releases.

VIAVI to acquire high speed ethernet and network security business from Keysight Technologies-backed Spirent Communications for $425m.

VIAVI, a global provider of network test, monitoring and assurance solutions for telecommunications, agreed to acquire high speed ethernet and network security business from Keysight Technologies-backed Spirent Communications, a British multinational telecommunications testing company, for $425m, according to press releases.

VIAVI is advised by Qatalyst Partners, Fried Frank Harris Shriver & Jacobson and Grand Bridges. Debt financing is provided by Wells Fargo Securities, according to press releases.

J.C. Flowers completes the acquisition of Pepper Advantage from Pepper Global.

J.C. Flowers, a private investment firm, completed the acquisition of Pepper Advantage, a credit management firm, from Pepper Global, a diversified financial services company, according to press releases. Financial terms were not disclosed.

Pepper Group was advised by Rothschild & Co (led by Gaurav Parkash), according to MergerLinks data.

PAI Partners to acquire 80% stake in Motel One for €2.6bn.

PAI Partners, a private equity firm, agreed to acquire an 80% stake in Motel One, a German hotel chain, for €2.6bn ($2.7bn), according to press releases.

Boston Scientific to acquire SoniVie for $540m.

Boston Scientific, a biotechnology and biomedical engineering firm, agreed to acquire SoniVie, a medical device company, for $540m, according to press releases.

Eurazeo to acquire a majority stake in Mapal Software from PSG.

Eurazeo, a French private equity firm, agreed to acquire a majority stake in Mapal Software, a European operational management software provider offering a comprehensive AI-powered SaaS platform, from PSG, a private equity firm, according to press releases. Financial terms were not disclosed.

ING completes the acquisition of 17.6% stake in Van Lanschot Kempen.

ING, a global financial institution, completed the acquisition of 17.6% stake in Van Lanschot Kempen, a specialist wealth manager, according to press releases.

Mercedes and BMW are said to weigh sale of FreeNow taxi app. (Bloomberg)

Mercedes-Benz Group and BMW are considering selling their jointly owned taxi-hailing app FreeNow and have engaged Lazard to explore potential buyers. Both automakers hold just under 50% of the business.

The sale could value FreeNow at up to €500m ($521m). This marks another effort by the companies to divest the mobility platform as they focus on their core automotive businesses.

Versace owner Capri jumps as Prada moves closer to purchase. (Bloomberg)

Capri shares surged as the US company nears a deal to sell its Italian luxury brand Versace to Prada. The potential acquisition marks a significant move in the luxury fashion industry.

Capri and Prada have agreed on a price of up to €1.5bn ($1.6bn) for Versace, the fashion house founded by Gianni Versace in 1978. The deal is advancing as both companies finalize terms.

APAC

Chubb to acquire Thailand and Vietnam operations from Liberty Mutual.

Chubb, an insurance company, agreed to acquire Thailand and Vietnam operations from Liberty Mutual, an American diversified global insurer, according to press releases. Financial terms were not disclosed.

Liberty Mutual is advised by Goldman Sachs and Baker McKenzie, according to press releases.

Blackstone to acquire a 60% stake in CMIC.

The Blackstone Group agreed to acquire a 60% stake in CMIC, a contract research organization that provides comprehensive end-to-end services across clinical trial phases and therapeutic areas, according to press releases. Financial terms were not disclosed.

The Blackstone Group is advised by Kekst CNC (led by Minako Otani), according to press releases.

Grab to acquire a majority stake in Everrise Departmental Stores from Navis Capital Partners. (DealStreetAsia)

Grab, Southeast Asia's leading superapp, agreed to acquire a majority stake in Everrise Departmental Stores, a supermarket chain in East Malaysia, from Navis Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

Everrise is advised by PricewaterhouseCoopers (led by Gregory Bournet), according to press releases.

Rockstar Games to acquire Video Games Deluxe.

Rockstar Games, an American video game publisher based in New York City, agreed to acquire Video Games Deluxe, a Sydney-based development studio, according to press releases. Financial terms were not disclosed.

Hangzhou government led a CNY1bn funding round in Zhipu AI. (Reuters)

Hangzhou government-controlled funds led a CNY1bn ($137m) funding round in Zhipu AI, a Chinese technology company specializing in artificial intelligence, according to press releases.

Australian PE firm Federation plans AUD1bn Asia expansion. (Bloomberg)

Federation Asset Management plans to invest up to AUD1bn ($623m) over the next five years in developed Asian markets. The Sydney-based firm is targeting sectors such as social and sustainable infrastructure, along with financial services.

CEO Cameron Brownjohn stated that the firm is particularly interested in opportunities in Japan, Singapore, and South Korea. The expansion aligns with the Federation’s strategy to grow its presence in key Asian economies while focusing on long-term, sustainable investments.

KKR extends a $186m private loan to Australian clinics. (Bloomberg)

KKR Group has provided an AUD300m ($186m) private credit loan to Family Doctor, a network of general practitioner clinics across Australia. The funding will be used to refinance existing debt and support the company’s expansion.

Founder and owner Dr. Rodney Aziz stated that Family Doctor plans to acquire more GP practices over the next two years, following the purchase of 32 clinics in 2024. The loan aims to facilitate the company’s growth strategy in the healthcare sector.

China's BYD launches share sale to raise up to $5.2bn. (Reuters)

Chinese electric vehicle maker BYD has launched a Hong Kong share sale to raise up to $5.2bn through an accelerated book-building process. The offering aims to attract investors as the company seeks additional capital.

BYD has set a price range of HKD333 ($42.50) to HKD345 ($44.00) per share, representing a discount of up to 8.4% from the stock’s closing price of HKD363.60 ($46.40) on March 3. The final pricing of the offering is expected to be determined on the same day.

New World Development shares rally after CEO pledges asset sales. (Bloomberg)

Shares of New World Development rose the most in five months after CEO Echo Huang announced plans to improve cash flow by selling HKD26bn ($3.3bn) in non-core assets. The company also outlined measures to cut costs and enhance rental returns.

Huang, who took over as CEO in November, detailed these steps in a media briefing, emphasizing the need to streamline operations and optimize asset management. The planned asset sales are part of a broader strategy to strengthen the company’s financial position.

Tata Capital seeks as much as $11bn value in India IPO. (Bloomberg)

Tata Group is targeting a valuation of up to $11bn for its financial services unit, Tata Capital, in what could be India’s largest initial public offering this year. The IPO is expected to attract significant investor interest.

The offering could raise as much as $2bn. The company is in the early stages of the process, with further details on pricing and timing yet to be disclosed.

JX Metals cuts price of Japan’s biggest IPO since SoftBank. (Bloomberg)

JX Advanced Metals has reduced the size of its initial public offering to JPY439bn ($2.9bn), marking Japan’s largest IPO since SoftBank Group. The move has raised concerns about weakening demand for IPOs following a strong year for listings.

The company set a price range of JPY810 ($5.40) to JPY820 ($5.47) per share after investor feedback. This represents a reduction of up to 6% from the price indicated just over two weeks ago.

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