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AMERICAS

Salesforce completes the acquisition of Informatica from CPP and Permira for $8bn.

Salesforce, a cloud-based software company, completed the acquisition of Informatica, an enterprise AI-powered cloud data management company, from CPP and Permira, investment firms, for $8bn, according to press releases.

Salesforce was advised by JP Morgan, Morrison Foerster (led by Tina Reynolds), Stikeman Elliott (led by Peter Flynn), Wachtell Lipton (led by Andrew Nussbaum), Debevoise (led by William Regner) and Joele Frank (led by Kara Grimaldi). Informatica was advised by Goldman Sachs (led by Matthew Lucas), Fenwick & West (led by Douglas Cogen), Latham & Watkins (led by Amber Banks) and Cravath Swaine & Moore (led by Edward Minturn). Permira was advised by FGS Global (led by Catherine Livingston) and Headland Consultancy, according to press releases and MergerLinks data.

Arkview Capital completes the acquisition of NeoTech.

Arkview Capital, an investment management and private equity services firm, completed the acquisition of NeoTech, a provider of high-reliability electronic manufacturing services to the defense, aerospace, medical, industrial, and advanced technology sectors, according to press releases. Financial terms were not disclosed.

NeoTech was advised by Lincoln International, Sheppard Mullin Richter & Hampton and Paul Weiss Rifkind Wharton & Garrison. Arkview was advised by Virtas Partners, Greenberg Traurig and RSM International. Debt financing was provided by Canyon Partners, Crestline Investors and PNC Financial Services. Debt providers were advised by Clifford Chance and Kirkland & Ellis, according to press releases and MergerLinks data.

Gibraltar Industries to acquire OmniMax International from Strategic Value Partners for $1.335bn.

Gibraltar Industries, a manufacturer and distributor of building products for the residential, industrial, and infrastructure markets, agreed to acquire OmniMax International, a company that manufactures building and transportation products, from Strategic Value Partners, an investment management firm, for $1.335bn, according to press releases.

OmniMax International is advised by Rothschild & Co and Paul Weiss Rifkind Wharton & Garrison (led by Nickolas Bogdanovich and Robert Kindler). Gibraltar Industries is advised by Bank of America, Perella Weinberg Partners, Wachtell Lipton Rosen & Katz (led by Alison M. Zieske Preiss), Alliance Advisors (led by Jody Burfening) and FGS Global (led by Andrew Duberstein and Jacob Crows). Debt financing is provided by Bank of America, KeyBanc Capital Markets and Wells Fargo Securities, according to press releases and MergerLinks data.

Carlyle completes the acquisition of a majority stake in Tarrytown Expocare Pharmacy from Sheridan Capital Partners.

Carlyle, a global investment firm, completed the acquisition of a majority stake in Tarrytown Expocare Pharmacy, a pharmacy focused exclusively on serving the intellectual and developmental disability and behavioral health communities, from Sheridan Capital Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

Tarrytown was advised by Houlihan Lokey, Goodwin Procter and McDermott Will & Schulte. Carlyle was advised by Wells Fargo Securities, Bass Berry & Sims and Debevoise & Plimpton. Sheridan Capital was advised by Stanton PRM, according to MergerLinks data and press releases.

Leonard Green to acquire a 60% stake in Topgolf from Topgolf Callaway Brands for $770m.

Leonard Green & Partners, a private equity investment firm, agreed to acquire a 60% stake in Topgolf business from Topgolf Callaway Brands, an unrivaled tech-enabled Modern Golf and active lifestyle company, for $770m, according to press releases.

Leonard Green is advised by Moelis & Co, Ropes & Gray (led by Jason Freedman), and Sidley Austin. Topgolf Callaway was advised by Centerview Partners, Goldman Sachs, and Latham & Watkins, according to press releases.

GTCR to acquire Fiduciary.

GTCR, a private equity firm, agreed to acquire Fiduciary, a private wealth management firm, according to press releases. Financial terms are not disclosed.

GTCR is advised by Kirkland & Ellis and Prosek Partners (led by Josh Clarkson). Fiduciary is advised by Centerview Partners, Debevoise & Plimpton and Gregory FCA (led by Paige Sullivan), according to press releases.

Bain Capital completes the acquisition of Concert Golf Partners from Clearlake Capital Group.

Bain Capital, a global private investment firm, completed the acquisition of Concert Golf Partners, an owner-operator of private golf and country clubs with 39 locations across the United States, from Clearlake Capital Group, a private equity firm, according to press releases. Financial terms were not disclosed.

Concert Golf Partners was advised by Moelis & Co, Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy). Bain Capital was advised by Goldman Sachs, Rothschild & Co, and Kirkland & Ellis, according to press releases and MergerLinks data.

Teamshares to go public via a SPAC merger with Live Oak Acquisition Corp. V in a $746m deal.

Teamshares, a tech-enabled acquiror of high-quality small-to-medium size enterprises, agreed to go public via a SPAC merger with Live Oak Acquisition Corp. V, a special purpose acquisition company, in a $746m deal. PIPE investment is provided by T. Rowe Price, according to press releases.

Teamshares is advised by Santander and Latham & Watkins (led by Ryan Maierson and Nick Dhesi). Santander is advised by Davis Polk & Wardwell. Live Oak V is advised by Ellenoff Grossman & Schole (led by Douglas Ellenoff), according to press releases.

Cognizant to acquire 3Cloud from Gryphon Investors.

Cognizant, an American multinational technology company, agreed to acquire 3Cloud, a dedicated Microsoft Azure services provider, from Gryphon Investors, a middle-market private investment firm, according to press releases. Financial terms are not disclosed.

Cognizant is advised by Mayer Brown (led by Nina Flax, William Kucera and Aideen Brennan). Gryphon Investors is advised by Lazard, Kirkland & Ellis, and Lambert & Co, according to press releases.

Agellus Capital completes the acquisition of HighGrove Partners.

Agellus Capital, a lower middle market private equity firm, completed the acquisition of HighGrove Partners, a provider of commercial landscaping services, according to press releases. Financial terms were not disclosed.

HighGrove Partners was advised by CCG Advisors. Agellus Capital was advised by Piper Sandler, Squire Patton Boggs, and Gregory FCA, according to press releases.

Ara Partners completes the acquisition of a majority stake in Centric Fiber.

Ara Partners, a private equity firm, completed the acquisition of a majority stake in Centric Fiber, a company specializing in high-speed internet, according to press releases. Financial terms were not disclosed.

Centric Fiber was advised by Guggenheim Partners and Simpson Thacher. Ara Partners was advised by RBC Capital Markets and Kirkland & Ellis, according to press releases.

Coral Tree Partners led a Series B round in KERV.ai.

Coral Tree Partners, a growth-focused investment firm, led a Series B round in KERV.ai, a provider of AI-powered video analysis, performance, and monetization platform, according to press releases.

KERV.ai is advised by Needham & Co, Davis & Gilbert and Salient PR. Coral Tree Partners is advised by Morrison Foerster, according to press releases and MergerLinks data.

Epsilon completes the acquisition of Peak Exploration & Production and Peak BLM Lease from Yorktown Partners for $86m.

Epsilon, an onshore natural gas and oil production and gathering company, completed the acquisition of Peak Exploration & Production, a provider of exploration and development services intended for oil and gas properties, and Peak BLM Lease, an oil and gas company from Yorktown Partners, an energy-focused private equity firm, for $86.3m, according to press releases.

Epsilon was advised by Texas Capital Bank and Gray Reed. Yorktown Partners was advised by Willkie Farr & Gallagher (led by Jesse Betts), according to press releases.

HIG Capital completes the investment in GT Independence.

HIG Capital, a private equity firm, completed the investment in GT Independence, a national leader in long-term home care and support solutions for Medicaid participants, according to press releases. Financial terms were not disclosed.

HIG Capital was advised by Guggenheim Partners, Morgan Stanley and McDermott Will & Schulte, according to press releases and MergerLinks data.

CHA Consulting completes the acquisition of Steger Bizzell from H.I.G. Capital.

CHA Consulting, an innovative, full-service engineering, design, consulting and construction management firm, completed the acquisition of Steger Bizzell, a civil engineering company, from H.I.G. Capital, a private equity firm, according to press releases. Financial terms were not disclosed.

Steger Bizzell was advised by Baker Tilly, GulfStar Group (led by Charles Craig) and Ewing & Jones, according to press releases.

Yosemite led a $120m Round in Solve Therapeutics.

Yosemite, an oncology-focused venture fund investing in biotech and healthcare innovations, led a $120m Round in Solve Therapeutics, a developing novel antibody-drug conjugates engineered for selectivity and optimized payload delivery, as well as novel patient-selection diagnostics, with participation from Abingworth, Ally Bridge Group, B Capital, Balyasny Asset Management, Merck & Co., SymBiosis, Alexandria Venture Investments, AyurMaya Capital Management, General Atlantic, and Surveyor Capital, according to press releases.

Solve Therapeutics was advised by KKH Advisors (led by Kimberly Ha), according to press releases.

Wellington Management completes an investment in dSilo.

Wellington Management, a global investment firm, completed an investment in dSilo, a technology company specializing in the Agentic AI Platform, according to press releases. Financial terms were not disclosed.

HUMAIN led a $900m Series C round in Luma AI.

HUMAIN, a global artificial intelligence company, led a $900m Series C round in Luma AI, a multimodal general intelligence company, with participation from AMD Ventures, Andreessen Horowitz, Amplify Partners, and Matrix Partners, according to press releases.

Eldridge Industries led a $250m funding round in Gopuff.

Eldridge Industries, a private investment and holding company, led a $250m funding round in Gopuff, a consumer goods and food delivery company, with participation from Valor Equity Partners, Baillie Gifford, Equalis Capital, George Ruan, Robinhood and Yakir Gabay, according to press releases.

Topgolf Callaway in talks to sell Topgolf unit to Leonard Green for about $1bn. (WSJ)

Topgolf Callaway Brands is in discussions to sell its Topgolf division to private equity firm Leonard Green in a deal that could value the business at roughly $1bn.

Shares of the Carlsbad, California–based company rose about 7% in November 14 afternoon trading. The talks — which may or may not result in an agreement.

Warburg and Permira are in talks to buy Clearwater Analytics. (Reuters)

Global private equity firms Warburg Pincus and Permira are in talks to acquire investment and accounting software maker Clearwater Analytics.

Boise, Idaho-based Clearwater provides software that helps companies manage their investment portfolios.

Janney Montgomery nears deal to sell financial-services unit. (Bloomberg)

KKR-owned Janney Montgomery Scott is in advanced discussions to sell its division advising depository institutions along with its institutional equities business.

The potential deal with Brean Capital is part of Janney’s strategy to exit the capital markets business and concentrate on wealth management. The sale would include investment bankers handling mergers, acquisitions, and capital raising for lenders, as well as teams in equity research and sales and trading.

Elliott takes stake in Barrick as miner underperforms peers. (Bloomberg)

Elliott Investment Management has built a significant position in Barrick Mining after a period of operational issues and rising costs left the gold producer lagging competitors despite strong bullion prices.

The move comes shortly after the departure of CEO Mark Bristow and as the company shifts its strategy toward strengthening its North American asset base.

York Space Systems files for US IPO as revenue rises. (Bloomberg)

ms, a space and defense firm backed by AE Industrial Partners, has filed for a US initial public offering, reporting higher revenue and narrower losses for the first nine months of 2025. The company posted a net loss of $54.9m on revenue of $280.9m, compared with a $73.1m loss on $176.9m in a 2024.

AE Industrial Partners will retain majority voting power after the listing. The firm had previously considered a sale of York Space that could have valued the business at more than $2bn earlier in 2025.

Chevron weighs potential bid for Lukoil’s foreign assets. (Reuters)

Chevron is evaluating options to acquire parts of Lukoil’s overseas asset portfolio after receiving clearance from the US Treasury to discuss a possible transaction. The US oil major joins Carlyle and other firms reviewing the Russian company’s global holdings.

Lukoil’s foreign asset package is estimated to be worth at least $20bn, drawing interest from multiple potential buyers as sanctions continue to reshape ownership of Russian-linked energy assets.

CapVest upstages PE titans with $3.8bn continuation fund. (Bloomberg)

London-based CapVest Partners is raising one of the world’s largest continuation funds after Europe’s biggest leveraged buyout earlier this year, targeting $3.8bn for its nuclear medicine business, Curium.

Investors in the vehicle include TPG, ICG, CVC Secondary Partners, Goldman Sachs Asset Management, Ardian, and Abu Dhabi’s Lunate.

KKR renews deal with PayPal to buy up to €65bn of loans. (Bloomberg)

KKR has agreed to acquire up to €65bn ($75.4bn) of buy-now-pay-later loans from PayPal as part of an expanded partnership between the two firms.

The arrangement includes a €6bn replenishing loan commitment that will allow KKR-managed credit funds and accounts to continue purchasing PayPal-originated consumer loans across France, Germany, Italy, Spain and the UK.

Warburg raises over $12bn in first close for global PE fund. (Bloomberg)

Warburg Pincus has gathered more than $12bn in the first fundraising round for its latest global private equity fund, reaching about 70% of its $17bn target within six months of launch.

The firm is on track to exceed its goal despite a slower industry fundraising environment, according to people familiar with the process.

EMEA

IVI RMA completes the acquisition of UAE and Saudi Arabia operations of ART Fertility Clinics from Gulf Capital for $470m.

IVI RMA Global, a fertility group specializing in reproductive medicine, completed the acquisition of UAE and Saudi Arabia operations of ART Fertility Clinics, a reproductive medicine institution, from Gulf Capital, an alternative investment company, for $470m, according to press releases.

IVI RMA Global was advised by Eversheds Sutherland (led by Zeid Hanania), Stanton PRM (led by Alex Varney), and Tinkle (led by Mar Yuste), according to press releases.

Lone Star completes the acquisition of multi-asset real estate portfolio of St. James’s Place.

Lone Star, a private equity firm that invests globally in real estate, equity, credit, and other financial assets, completed the acquisition of multi-asset real estate portfolio of St. James’s Place, a British multinational wealth management business, according to press releases. Financial terms were not disclosed.

Lone Star was advised by Headland Consultancy (led by Rosheeka Field). St. James’s Place was advised by Invesco Real Estate (led by Andy Rofe), according to press releases.

Nordic Capital completes the acquisition of a majority stake in Evosep.

Nordic Capital, a private equity investor, completed the acquisition of a majority stake in Evosep, an innovator of sample preparation and separation solutions for LC-MS-based proteomics, according to press releases. Financial terms were not disclosed.

Evosep was advised by JP Morgan, according to MergerLinks data.

Seven2 to acquire a majority stake in Zwart Techniek.

Seven2, a private equity firm, agreed to acquire a majority stake in Zwart Techniek, a Netherlands-based integrator of mission-critical power systems for data centers, vital and public infrastructure, and power-critical businesses across Europe, according to press releases. Financial terms were not disclosed.

Zwart Techniek is advised by Loyens & Loeff (led by Antoinette van der Hauw), according to press releases and MergerLinks data.

Wafra completes the acquisition of a minority stake in Ardian. (Bloomberg)

Wafra, a privately owned investment company, completed the acquisition of a minority stake in Ardian, a French private investment firm, according to Bloomberg. Financial terms were not disclosed.

German quantum computing supplier Raith weighs €1bn sale. (Bloomberg)

Capiton, the private equity owner of Raith, a German nanotechnology supplier serving critical tech sectors including quantum computing, is exploring a potential sale of the business that could be valued at around €1bn ($1.2bn).

The Dortmund-based company has engaged UBS Group to advise on the possible transaction and has contacted prospective buyers. Major US technology firms could be among those interested in acquiring the asset.

Ardian is said to tap Morgan Stanley, Macquarie for GBA exit. (Bloomberg)

Ardian has appointed Morgan Stanley and Macquarie Group to advise on a potential sale of German laboratory services provider GBA Group, which could be valued at around €1.5bn ($1.7bn).

The private equity firm has been exploring strategic options for GBA, and a sale process could begin as early as 2026. Deliberations remain at an early stage, and Ardian could still choose not to pursue a transaction.

Onex picks Rothschild and Morgan Stanley for sale of education firm Tes. (Bloomberg)

Alternative asset manager Onex has hired banks to support its planned sale of Tes Global, a UK-based provider of education software.

The firm has tapped Rothschild & Co and Morgan Stanley to advise on the process. Tes, formerly the Times Educational Supplement, could fetch up to $2bn in a sale.

Grant Thornton UK plans partner hiring push after Cinven investment. (Bloomberg)

Grant Thornton UK plans to hire 160 partners over the next two years after receiving investment from private equity firm Cinven. The firm, which currently has 280 partners, has appointed Korn Ferry and Wilton & Bain to support the recruitment process.

Chief executive Malcolm Gomersall said the firm intends to expand in areas with the strongest opportunities and scale its operations to meet client demand.

RedBird pulls £500m bid for the Telegraph titles. (Sky News)

RedBird Capital Partners has confirmed that it has withdrawn its £500m ($658m) offer to acquire the right-leaning newspaper group, leaving the future ownership of the Daily Telegraph in renewed uncertainty.

The consortium led by RedBird — which included UAE-based investor IMI — has formally stepped back from its proposal to buy the titles.

Santander’s Ebury considers stake sale after London IPO delay. (Bloomberg)

Ebury, the UK payments firm backed by Banco Santander, and some of its owners are considering selling a stake in the fintech after postponing plans for a London listing.

Potential investors have been in discussions to acquire a minority stake in the company. Private equity firms Advent, Centerbridge Partners, and Cinven are among those that have explored possible investments.

Generali, BFF Bank and BPCE line up offers for Apax's insurer GamaLife. (Reuters)

Generali, BFF Bank, and France’s BPCE are in the second round of bidding for Apax Partners’ GamaLife, a European life insurance consolidator valued around €600m ($692m), with binding offers expected soon.

Founded in 2019, GamaLife acquired Zurich Insurance’s Italian life and pensions back book in 2022, covering €7bn ($8.01bn) in policies, while Generali and BPCE bring recent sector experience through Liberty Mutual’s Spanish unit and Novo Banco.

Lone Star, Altaris, One Rock said among bidders for Lonza assets. (Bloomberg)

Lone Star Funds, Altaris and One Rock Capital Partners are among the shortlisted bidders for Lonza Group’s capsules and health ingredients business.

The US private equity firms have advanced to a second round of bidding for the assets. Additional bidders could still emerge, and deliberations remain ongoing with no final decisions made.

EDF and OpCore to develop €4bn data centre in France. (Reuters)

French utility EDF and OpCore, a joint venture between Iliad and InfraVia Capital Partners, have entered into exclusive negotiations to develop a hyperscale data centre.

The project, to be built on the site of EDF’s former coal-fired plant at Montereau-Vallee-de-la-Seine, is expected to cost around €4bn ($4.64bn) and create one of Europe’s largest computing hubs with several hundred megawatts of capacity.

Ex-Eurazeo CEO’s Ardabelle Capital hits €250m first close. (Bloomberg)

Ardabelle Capital, the private equity firm led by former Eurazeo CEO Virginie Morgon, has raised around €250m ($290m) in commitments for its first fund.

The fund reached its first close with backing from the European Investment Fund, Oddo BHF’s private equity arm, and French asset manager Swen Capital Partners.

UBS O’Connor leaders depart ahead of Cantor acquisition. (Bloomberg)

The co-heads of UBS O’Connor’s capital solutions strategy, Rodrigo Trelles and Baxter Wasson, have stepped down from running the firm’s funds after choosing not to take roles at Cantor Fitzgerald, which is preparing to acquire the hedge fund unit.

The pair stopped overseeing the strategies on October 20 as the planned takeover moves toward completion.

APAC

General Atlantic completes the acquisition of a minority stake in SmartHR from Coral Capital for $96m.

General Atlantic, a global growth equity firm, completed the acquisition of a minority stake in SmartHR, an information company, from Coral Capital, a venture capital firm, for $96m, according to press releases.

China investment bank CICC to acquire two smaller rivals. (Bloomberg)

China International Capital Corp. plans to acquire two smaller brokerages to bolster its position in the securities industry and compete with global banking giants. The proposed share-swap merger involves Dongxing Securities and Cinda Securities, which together are valued at about CNY100bn ($14bn), though details on the swap and pricing were not disclosed.

Malaysian pharmaceutical chain Big Caring to explore IPO. (Bloomberg)

Big Caring Group is weighing an IPO in Kuala Lumpur next year. The pharmacy chain, partly owned by private equity firm Creador, is exploring a valuation of up to MYR20bn ($4.6bn). Such a valuation could allow the company to raise as much as MYR6bn ($1.3bn), which would make the offering one of Malaysia’s largest listings in recent years.

KKR targets December close for second Asia private credit fund. (Bloomberg)

KKR is aiming to close its second Asia-focused credit vehicle, Asia Credit Opportunities Fund II, in December, with a fundraising target of about $2bn. The strategy focuses on performing credit investments across the region.

The fund began raising capital in January 2024 and is designed to deploy money into transactions generating low- to mid-teens returns.

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