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AMERICAS

New Mountain Capital completes the investment in Office Ally.

New Mountain Capital, an American alternative investment firm, completed the investment in Office Ally, a healthcare technology company, according to press releases. Financial terms were not disclosed.

Office Ally was advised by William Blair & Co and Kirkland & Ellis. New Mountain Capital was advised by Houlihan Lokey, Ropes & Gray (led by Jennifer Romig) and H/Advisors Abernathy (led by Dana Gorman). Francisco Partners was advised by William Blair & Co, Kirkland & Ellis (led by Michele M. Cumpston and Sean Kramer) and Sloane & Company (led by TJ White), according to press releases and MergerLinks data.

Bain Capital to acquire a 9.9% stake in Lincoln Financial for $825m.

Bain Capital, a global investment firm, agreed to acquire a 9.9% stake in Lincoln Financial, a financial services company, for $825m, according to press releases.

Lincoln Financial is advised by Goldman Sachs and Wachtell Lipton Rosen & Katz (led by Nicholas G. Demmo). Bain Capital is advised by Sumitomo Mitsui Banking, Debevoise & Plimpton (led by Nicholas Potter), Ropes & Gray and Stanton PRM (led by Charlyn Lusk), according to press releases and MergerLinks data.

General Atlantic to invest in Frazier & Deeter.

General Atlantic, a global investor, agreed to invest in Frazier & Deeter, a globally recognized accounting and business transformation firm, according to press releases. Financial terms were not disclosed.

Frazier & Deeter is advised by William Blair & Co, Nelson Mullins Riley & Scarborough and Vedder Price. General Atlantic is advised by Citizens M&A, Dechert and Paul Weiss Rifkind Wharton & Garrison (led by Cullen Sinclair and Matthew Abbott), according to press releases.

Ridgeview Partners completed the investment in TA Associates-backed Radiant Logic.

Ridgeview Partners, a private equity firm, completed the investment in TA Associates-backed Radiant Logic, a provider of identity data management and identity analytics solutions, according to press releases. Financial terms were not disclosed.

Radiant Logic was advised by Deutsche Bank, Kirkland & Ellis and Stealth PR. Ridgeview Partners was advised by PJT Partners and Sidley Austin (led by Daniel J. Belke and David Clivner), according to press releases.

Wellspring Capital completes the acquisition of Summit Spine & Joint Centers from MSouth Equity.

Wellspring Capital, a private equity firm, completed the acquisition of Summit Spine & Joint Centers, a provider of minimally invasive spine services, from MSouth Equity, a private equity investment firm, according to press releases. Financial terms were not disclosed.

Summit was advised by Houlihan Lokey and DLA Piper. Wellspring Capital was advised by Benesch Friedlander Coplan & Aronoff. Debt financing was provided by Audax Group, according to press releases.

Blackstone-led investor consortium to acquire a 49.9% stake in the wireless network from Rogers Communications for CAD7bn.

A Blackstone-led investor consortium, including CPP Investments, Caisse de dépôt et placement du Québec, PSP Investments and British Columbia Investment Management, agreed to acquire a 49.9% stake in the wireless network from Rogers Communications, a communications and entertainment company, for CAD7bn ($5bn), according to press releases.

Blackstone is advised by Kirkland & Ellis (led by John D. Pitts, Brittany A. Sakowitz and Patrick Y. Moneypenny), according to press releases.

CK Hutchison’s Panama deal in doubt as auditor alleges violation.(Bloomberg)

A BlackRock-led consortium's plans to acquire two Panamanian ports revealed in March 2025 are now uncertain after Panama’s chief auditor raised serious concerns.

The auditor, Anel Flores, accused the current operator, Panama Ports, managed by Hutchison Ports, of failing to get proper approval for a 2021 contract extension and of reducing government payments by using tax-exempt subcontractors.

Blackrock is advised by Brunswick Group.

Diageo and Main Street Advisors to form a joint venture.

Diageo, a British multinational alcoholic beverage company, and Main Street Advisors, a boutique investment and merchant banking firm, agreed to form a joint venture, to grow Cîroc Ultra-Premium Vodka in North America and Lobos 1707 Tequila worldwide, according to press releases. Financial terms were not disclosed.

Diageo is advised by Sullivan & Cromwell (led by Melissa Sawyer), according to press releases and MergerLinks data.

Altus Capital Partners and Centerfield Capital Partners completes the acquisition of ALM Positioners.

Altus Capital Partners, a private equity firm, and Centerfield Capital Partners, a national provider of mezzanine debt and equity financing, completed the acquisition of ALM Positioners, a provider of automated positioning equipment, according to press releases. Financial terms were not disclosed.

Altus Capital Partners was advised by Marketcom PR (led by Rosalia Scampoli), according to press releases.

Blackstone to acquire a 95% stake in 6M SF industrial portfolio of Crow Holdings for $718m.

Blackstone agreed to acquire a 95% stake in 6M SF industrial portfolio of Crow Holdings, a US-based real estate investment and development firm, for $718m, according to press releases.

Foresite Capital and OrbiMed Advisors led a $110m Series A round in RayThera.

Foresite Capital, a healthcare and life sciences investment firm, and OrbiMed Advisors, a global investment firm, led a $110m Series A round in RayThera, a biotechnology company, with participation from TTM Capital, according to press releases.

GENDA to acquire Player One Amusement Group from OpenGate Capital.

GENDA, an entertainment company, agreed to acquire Player One Amusement Group, a Canadian arcade game distributor, from OpenGate Capital, a global private equity firm, according to press releases. Financial terms were not disclosed.

Krispy Kreme owner JAB Holding to acquire Shenandoah Life parent for $3.1bn. (The Roanoke Times)

JAB Holding, the Luxembourg-based investment firm and majority shareholder in Krispy Kreme, plans to acquire Roanoke-based Shenandoah Life and its affiliated companies.

The firm has informed the State Corporation Commission of its proposal to purchase Prosperity Life Group, the company that rescued Shenandoah Life from receivership in 2012, for $3.1bn.

Bain Capital nears $2.6bn acquisition of HealthEdge from Blackstone. (FT)

Bain Capital is close to acquiring US-based healthcare software company HealthEdge in a deal valued at around $2.6bn, including debt. The transaction would involve the purchase of the Blackstone-backed business.

If completed, the deal would mark another successful exit in a series of recent private equity-backed software company sales.

Bain Capital is in talks to buy Sizzling Platter for over $1bn. (Bloomberg)

Bain Capital is in talks to acquire restaurant-chain operator Sizzling Platter from CapitalSpring in a transaction valued at over $1 billion, including debt.

Sizzling Platter notified its bondholders of the agreement on Wednesday. Jefferies and UBS are financing the deal.

Signalfire raises over $1bn to back next wave of applied AI startups, pushing AUM to $3bn. (Press Release)

Signalfire, an early-stage venture capital firm focused on applied AI, has raised more than $1bn in new capital, bringing its total assets under management to around $3bn.

The funding, secured despite a challenging fundraising environment, reflects strong investor confidence in the firm’s AI-native approach, thesis-driven strategy, and in-house operational capabilities. The capital will be allocated across Signalfire’s Seed, Early, Executive-in-Residence and Opportunities funds to support emerging high-growth AI companies.

Jefferies appoints Barclays' Gabriel Gruber as global co-head of chemicals banking. (Bloomberg)

Jefferies Financial Group has hired Gabriel Gruber as global co-head of chemicals investment banking, strengthening its sector coverage and expanding its European footprint. Gruber was previously global co-head of chemicals at Barclays, where he advised on major transactions including the planned merger of OMV’s chemical arm with Adnoc’s Borouge.

Gruber will be based in Milan and will work alongside Adam Abramson, who continues to serve as US-based co-head of the chemicals group. The hire underscores Jefferies’ strategic push to grow its advisory capabilities across key industrial sectors in Europe.

EMEA

KKR to acquire Karo Healthcare from EQT.

KKR, a private equity firm, agreed to acquire Karo Healthcare, a pan-European consumer healthcare company, from EQT, a Swedish global investment organization, according to press releases. Financial terms were not disclosed.

KKR is advised by Citigroup and FGS Global (led by Alastair Elwen). EQT is advised by Jefferies & Company, Morgan Stanley, PricewaterhouseCoopers and White & Case (led by Patrik Erblad), according to press releases and MergerLinks data.

Hg, ADIA and CPP Investments to acquire a majority stake in IFS at €15bn valuation.

Private equity firms Hg, ADIA and CPP Investments, agreed to acquire a majority stake in IFS, a provider of cloud enterprise software and Industrial AI applications, at €15bn valuation, according to press releases.

IFS is advised by Arma Partners, Evercore and White & Case. Hg Capital is advised by Morgan Stanley and Skadden Arps Slate Meagher & Flom, according to press releases and MergerLinks data.

P10 completes the acquisition of Qualitas Funds for $63m.

P10, a private markets solutions provider, completed the acquisition of Qualitas Funds, a Madrid-based private equity investing platform that provides fund-of-funds, direct co-investing and NAV financing opportunities in the European lower-middle market, for $63m, according to press releases.

Qualitas Funds was advised by Cuatrecasas Goncalves Pereira (led by Francisco Jose Martinez Maroto). P10 was advised by Kirkland & Ellis, Perez Llorca (led by Francisco Iso) and Prosek Partners, according to press releases and MergerLinks data.

Strategic Value Partners and Blantyre Capital completes the acquisition of OQ Chemicals.

Strategic Value Partners, a global alternative investment firm, and Blantyre Capital, an investment manager, completed the acquisition of OQ Chemicals, a global producer and merchant of oxo chemicals, according to press releases. Financial terms were not disclosed.

Strategic Value Partners and Blantyre Capital were advised by Lazard, Akin Gump Strauss Hauer & Feld, Kirkland & Ellis (led by Kon Asimacopoulos) and Greenbrook (led by James Madsen), according to press releases.

Snam to acquire a 24.99% stake in Open Grid Europe.

Snam, an Italian energy company, agreed to acquire a 24.99% stake in Open Grid Europe, an independent gas transmission operator, according to press releases. Financial terms were not disclosed.

Snam is advised by JP Morgan and White & Case. ADIA is advised by UBS, according to press releases and MergerLinks data.

Reichmann Segal completes the acquisition of OES from Ardenton.

Reichmann Segal, a Canadian private equity firm, completed the acquisition of OES, an electronic manufacturing services and technology solutions company, from Ardenton, a private investment firm, according to press releases. Financial terms were not disclosed.

Reichmann Segal was advised by Cozen O'Connor and Segal. Debt financing was provided by National Bank of Canada, according to press releases.

Prada to acquire Versace from Capri for $1.375bn.

Prada, a company specializing in high-end fashion and luxury goods, agreed to acquire Versace, an iconic Italian fashion house, from Capri Holdings, a global fashion group, for $1.375bn.

Capri is advised by Barclays and Wachtell Lipton Rosen & Katz (led by Joshua Cammaker and Mark Stagliano).

DEME to acquire Havfram from Sandbrook Capital and PSP Investments for €900m.

DEME, an offshore energy and marine engineering company, agreed to acquire Havfram, an international offshore wind infrastructure company, from Sandbrook Capital, a private investment firm, and PSP Investments, a pension investor, for €900m ($985m), according to press releases.

Sandbrook Capital and PSP Investments are advised by Goldman Sachs and Thommessen, according to press releases.

CVC DIF to acquire a 49% stake in BALANCE Erneuerbare Energien.

CVC DIF, an infrastructure strategy of a global private markets manager CVC, agreed to acquire a 49% stake in BALANCE Erneuerbare Energien, a biogas subsidiary of Leipzig-based gas company VNG, according to press releases. Financial terms were not disclosed.

CVC DIF is advised by Evercore and White & Case (led by Stefan Koch and Thyl Hassler), according to press releases and MergerLinks data.

CYVN completes the acquisition of McLaren from Bahrain Mumtalakat.

CYVN, an Abu Dhabi-based investment vehicle, completed the acquisition of McLaren Automotive, a British luxury sports car manufacturer from Bahrain Mumtalakat, the sovereign wealth fund of Bahrain, according to press releases. Financial terms were not disclosed.

CYVN was advised by A&O Shearman (led by David Foster). Bahrain Mumtalakat was advised by JP Morgan, according to MergerLinks data and press releases.

Federated Hermes completes the acquisition of a majority stake in Rivington Energy Management.

Federated Hermes, a global investment manager, completed the acquisition of a majority stake in Rivington Energy Management, a UK-based renewable energy project development business, according to press releases. Financial terms were not disclosed.

Italy’s Clessidra weighs sale of software firm Impresoft. (Bloomberg)

Clessidra Private Equity is evaluating strategic options for Impresoft, including a potential sale that could value the software company at around €800m ($885m).

The Italian private equity firm has received unsolicited interest from both industry players and other buyout firms, prompting consideration of a formal auction process. A potential sale could gain traction in 2025.

SBI weighs selling minority stake in crypto unit B2C2. (Bloomberg)

SBI Financial Services, part of Japanese financial group SBI Holdings, is exploring the sale of a minority stake in cryptocurrency market maker B2C2.

The potential deal could be valued at $100m, with discussions currently underway with multiple prospective buyers.

3i Group delays sale of cat food maker MPM due to US tariffs on Thailand.(Bloomberg)

3i Group has postponed the sale of premium pet food producer MPM, which owns the Applaws brand, as it evaluates the impact of new US tariffs. The London-based private equity firm paused the process after the US imposed a 36% tariff on imports from Thailand.

MPM sources its materials from Thailand, prompting concerns about the financial implications of the tariff hike. Thailand has responded by pledging to lead efforts in formulating a strategy to support affected manufacturers and exporters.

Qatar's QIA denies reported interest in Kering building in Milan. (Reuters)

The Qatar Investment Authority announced on April 10 that it has no intention of buying Kering’s prestigious building on via Montenapoleone in Milan, dismissing a report by Italian newspaper Corriere della Sera suggesting the sovereign wealth fund was eyeing a stake in the property.

The luxury group has previously stated it is seeking investors to help refinance recent real estate acquisitions, as it faces mounting financial pressure due to falling sales at its flagship brand, Gucci.

KKR withdraws from Gerresheimer takeover talks. (Bloomberg)

KKR withdrew from a private equity consortium that had been exploring a takeover of Gerresheimer, the German manufacturer of pharmaceutical and cosmetics packaging.

KKR had been partnering with Warburg Pincus on the potential deal, but Warburg Pincus is now continuing discussions independently to assess whether a transaction can still be reached. The deliberations remain confidential and ongoing.

Novo Banco continues IPO preparations, timing dependent on market conditions. (Bloomberg)

Novo Banco, the Lisbon-based lender majority-owned by Lone Star, has reiterated that it is actively preparing for a potential initial public offering. While the bank confirmed that preparatory work is ongoing, it emphasized that no definitive timeline has been set and that market conditions will guide the final decision.

The update follows earlier statements from the bank about considering strategic options, including a public listing. Novo Banco is monitoring financial markets closely to determine the optimal timing for any transaction, though no formal filing or roadshow has yet been announced.

Ardian delays flagship buyout fundraise amid internal restructuring.(Bloomberg)

Ardian has postponed the fundraising process for its next major buyout vehicle, Ardian Buyout Fund VIII, as it restructures its buyout team in response to a tougher fundraising climate. The Paris-based investment firm had originally planned to launch the fundraise in early 2025 but is now expected to begin seeking commitments later in the year.

The delay coincides with the creation of a new buyout management committee aimed at strengthening investor confidence and positioning the firm for long-term capital raising. The decision reflects broader pressures facing private equity firms, including reduced liquidity and cautious LP sentiment.

APAC

Five V Capital completes the acquisition of a majority stake in Questas Group from Allegro Funds for $375m.

Five V Capital, a private equity & venture capital firm, completed the acquisition of a majority stake in Questas Group, a provider of a diverse range of hydraulic, irrigation, pump & engine solutions, from Allegro Funds, an Australia-based private equity firm, for $375m, according to press releases.

Questas Group was advised by UBS, according to press releases and MergerLinks data.

TPG to acquire a majority stake in Five Good Friends.

TPG, an alternative asset management firm, agreed to acquire a majority stake in Five Good Friends, an in-home care provider, according to press releases. Financial terms were not disclosed.

Five Good Friends is advised by Brunswick Group (led by Katelin Stevenson), according to press releases.

Sanabil Investments and Valar Ventures led a $110m round in SILQ Group.

Sanabil Investments, a financial investment company, and Valar Ventures, a venture capital fund, led a $110m round in SILQ Group, a B2B Commerce Platform, according to press releases.

Arcadea Group completes the acquisition of Agdata.

Arcadea Group, an investment firm, completed the acquisition of Agdata, a company specializing in the development, distribution and support of premium farm management software, according to press releases. Financial terms were not disclosed.

Blackstone considers selling AirTrunk data centers in Sydney and Melbourne. (Bloomberg)

The Blackstone Group is weighing the sale of two stabilized AirTrunk data centers in Sydney and Melbourne, just months after acquiring the company in December.

The private equity firm has engaged advisers to evaluate the potential divestitures, which could each be valued at around AUD2bn ($1.3bn). The move reflects Blackstone’s strategy to unlock value from mature assets in its infrastructure portfolio.

Singapore's SC Capital in talks to buy British data centre group Global Switch. (Reuters)

Singapore-based real estate investment manager SC Capital Partners has emerged as a potential bidder for British data centre operator Global Switch, as the company explores a change in ownership.

Backed by global real asset manager CapitaLand Investment, SC Capital is working with advisers on a possible acquisition of the London-based firm, which is currently controlled by Chinese steelmaker Jiangsu Shagang Group.

I Squared’s HKBN bid faces hurdle with China sovereign fund. (Bloomberg)

I Squared Capital’s planned bid for Hong Kong internet provider HKBN has encountered a setback as it struggles to gain support from China Investment, the country’s sovereign wealth fund.

The Miami-based firm, which already owns broadband operator HGC Global Communications—where CIC holds a minority stake—intends to merge it with HKBN. However, it has yet to obtain CIC’s approval to proceed with a formal offer, putting the proposal at odds with a competing bid from state-backed China Mobile.

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