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AMERICAS

Leonard Green & Partners to acquire a majority stake in Crunch Fitness from TPG Growth.

Leonard Green & Partners, a private equity investment firm, agreed to acquire a majority stake in Crunch Fitness, a US brand of fitness clubs, from TPG Growth, an investment firm, according to press releases. Financial terms were not disclosed.

Crunch Fitness is advised by Jefferies & Company, North Point Advisors and Kirkland & Ellis (led by Maggie D. Flores), according to press releases and MergerLinks data.

Lee Equity and Emigrant-backed Pure Financial Advisors completes the acquisition of Fairhaven Wealth Management.

Lee Equity and Emigrant-backed Pure Financial Advisors, a financial education, planning and investment advice company, completed the acquisition of Fairhaven Wealth Management, a financial planning and investment management firm, according to press releases. Financial terms were not disclosed.

Fairhaven was advised by Hue Partners and Brightstar Law. Pure was advised by Katz Teller Brant & Hild, according to press releases.

The Visualize Group to acquire BMM Testlabs.

The Visualize Group, a private investment firm, agreed to acquire BMM Testlabs, an independent gaming certification lab, according to press releases. Financial terms were not disclosed.

BMM Testlabs is advised by Gadens. Visualize is advised by Weil Gotshal and Manges (led by Jenna McBain), according to press releases.

Charli AI to acquire Sums Capital.

Charli AI, an AI driven market intelligence platform, agreed to acquire Sums Capital, a financial technology platform, according to press releases. Financial terms were not disclosed.

Charli AI is advised by Alliance Advisors, according to press releases.

Infinite Reality to acquire Touchcast for $500m.

Infinite Reality, an innovation company driving next-gen media & e-commerce through AI, XR & spatial computing, agreed to acquire Touchcast, an agentic AI company, for $500m, according to press releases.

Lloyd's completes the investment in BreachBits.

Lloyd's, an insurance and reinsurance marketplace, completed the investment in BreachBits, a cyber hacking innovation company, according to press releases. Financial terms were not disclosed.

Credit firm Bayview explores sale of minority stake. (Bloomberg)

Bayview Asset Management, which manages $20bn in assets, is exploring liquidity options that include selling a minority stake.

The firm, led by Chairman and CEO David Ertel, is also considering alternatives such as raising capital through a net-asset-value loan. No final decisions have been made.

Willow Tree Credit Partners explores minority stake sale. (Bloomberg)

Willow Tree Credit Partners is evaluating strategic options, including the sale of a minority stake.

The firm is working with an adviser to gauge investor interest. Discussions are ongoing, and no final decision has been made.

Zuckerberg considered Instagram spinoff in 2018 amid antitrust concerns. (Reuters)

Meta CEO Mark Zuckerberg explored the possibility of spinning off Instagram in 2018 due to rising concerns over antitrust scrutiny, according to a document presented at a trial in Washington.

The document surfaced during Zuckerberg’s second day of testimony in a high-profile case where the US Federal Trade Commission is seeking to reverse Meta’s acquisitions of Instagram and WhatsApp.

Figma files confidentially for IPO after failed Adobe merger. (Bloomberg)

Figma, a San Francisco-based design and collaboration software startup, has confidentially filed for an initial public offering, more than a year after its planned merger with Adobe collapsed.

The company submitted a draft registration statement to the US Securities and Exchange Commission. In a 2024 share sale, Figma was valued at $12.5bn.

EMEA

Lyft to acquire FREENOW from BMW Group and Mercedes-Benz Mobility for $197m.

Lyft, a ride hailing marketplace, agreed to acquire FREENOW, a European multi-mobility app with a taxi offering at its core, from BMW Group, a multinational manufacturer of vehicles, and Mercedes-Benz Mobility, a mobility services provider, for $197m, according to press releases.

Lyft is advised by Guggenheim Partners and Baker McKenzie. BMW Group and Mercedes-Benz Mobility are advised by Lazard and DLA Piper (led by Benjamin Parameswaran and Tim Arndt), according to press releases and MergerLinks data.

Norgine to acquire Theravia from Mérieux Equity Partners.

Norgine, a specialty pharmaceutical and consumer healthcare company, agreed to acquire Theravia, an international pharmaceutical laboratory specializing in rare or neglected diseases, from Mérieux Equity Partners, a private equity firm, according to press releases. Financial terms were not disclosed.

Norgine is advised by Sullivan & Cromwell (led by Arnaud Berdou), according to press releases and MergerLinks data.

Bertram Capital to acquire APPLIED Adhesives.

Bertram Capital, a private equity firm, agreed to acquire APPLIED Adhesives, a distributor and manufacturer of adhesive solutions, according to press releases. Financial terms were not disclosed.

Bertram Capital is advised by Houlihan Lokey, according to press releases and MergerLinks data.

VIA Equity-backed WeKomply to acquire Falcony.

VIA Equity-backed WeKomply, a Nordic provider of compliance and risk management software solutions, agreed to acquire Falcony, a Finnish software company, according to press releases. Financial terms were not disclosed.

WeKomply is advised by Avance (led by Ilkka Perheentupa), according to press releases and MergerLinks data.

KKR to acquire DATAGROUP in a €450m deal.

KKR, a private equity firm, offered to acquire DATAGROUP, a German IT company, in a €450m ($508m) deal, according to press releases.

NUO Capital to acquire Bialetti.

NUO Capital, an investment holding, agreed to acquire Bialetti, an Italian brand of coffee machines, cookware, and small kitchen appliances, according to press releases. Financial terms were not disclosed.

Sagard to invest in BEX Capital.

Sagard, a global alternative asset manager, agreed to invest in BEX Capital, a secondaries investment firm, according to press releases. Financial terms were not disclosed.

M42 completes the investment in Juvenescence.

M42, an Abu Dhabi-based, global tech-enabled healthcare company, completed the investment in Juvenescence, a clinical-stage drug development company dedicated to extending healthy lifespan through innovative medicines, according to press releases. Financial terms were not disclosed.

Partners Group explores options for 49% stake in Telepass. (Bloomberg)

Partners Group is considering strategic options for its 49% stake in Telepass, a toll-road payment company controlled by Italy’s Benetton family.

The Zurich-listed private equity firm, which acquired the stake in 2021, is in the early stages of reviewing alternatives. A transaction may not materialize until after year-end, and the firm could also opt to retain the asset.

Fivespan builds stake in Dutch diagnostics firm Qiagen. (Bloomberg)

Activist investor Fivespan Partners has acquired a stake in Qiagen, a diagnostics company based in the Netherlands.

The firm has held constructive discussions with Qiagen’s management. Details on the size of the stake and Fivespan’s intentions remain undisclosed. Both parties declined to comment.

Banco BPM and Anima to support Monte dei Paschi share issue for Mediobanca bid. (Reuters)

Banco BPM and Anima, which together hold 9% of Monte dei Paschi di Siena, plan to support a proposed share issue to finance the bank’s hostile takeover bid for Mediobanca.

Banco BPM, holding a 5% stake, confirmed it would vote in favor of the capital increase during a shareholder meeting on April 17. Anima, with a 4% stake, is also expected to back the plan.

Italy may require UniCredit to exit Russia to approve Banco BPM deal. (Reuters)

Italy is expected to request UniCredit to exit Russia as a condition for approving its proposed acquisition of Banco BPM, a smaller domestic rival.

UniCredit is one of the few international banks still operating in Russia after the outbreak of the war in Ukraine. CEO Andrea Orcel has stated the bank is unwilling to exit without securing fair value for its Russian assets, to avoid harming shareholders. The European Central Bank has already urged the lender to accelerate its withdrawal from the Russian market.

Hacksaw considers Stockholm IPO in coming months. (Bloomberg)

Hacksaw, a developer and distributor of online betting games, is weighing an initial public offering in Stockholm in the coming months.

The company is working with advisers including Carnegie Investment Bank and Jefferies on the potential listing.

APAC

Stonepeak to acquire a 75% stake in IOR.

Stonepeak, an alternative investment firm, agreed to acquire a 75% stake in IOR, a commercial fuel distributor, according to press releases. Financial terms were not disclosed.

IOR is advised by Miles Advisory and Gilbert + Tobin. Stonepeak is advised by Macquarie Group and King & Wood Mallesons, according to press releases.

Astorg-backed IQ-EQ to acquire AMAL Group.

Astorg-backed IQ-EQ, an investor services group, agreed to acquire AMAL Group, a provider of corporate trust, agency services and loan servicing solutions, according to press releases. Financial terms were not disclosed.

IQ-EQ is advised by Nomura, according to press releases and MergerLinks data.

Ares Management completes the acquisition of a 70% stake in Omni Bridgeway Fund 9 from Omni Bridgeway for AUD320m.

Ares Management, a global alternative investment manager, completed the acquisition of a 70% stake in Omni Bridgeway Fund 9 from Omni Bridgeway, an alternative asset manager, for AUD320m ($203m), according to press releases.

CleverTap completes the acquisition of rehook.ai.

CleverTap, an all-in-one engagement and retention platform, completed the acquisition of rehook ai, a platform that enables businesses to automate and manage various promotional campaigns, according to press releases. Financial terms were not disclosed.

China Southern considers Hong Kong IPO for cargo unit. (Bloomberg)

China Southern Airlines is evaluating a potential Hong Kong IPO for its cargo subsidiary after previously shelving plans for a listing in Shanghai.

The offering by China Southern Air Logistics could raise several hundred million USD, though discussions remain at an early stage.

EQT’s Asia buyout fund raises over $10bn, on track to hit $12.5bn target. (Bloomberg)

EQT has secured more than $10bn in commitments for its latest pan-Asia private equity vehicle, keeping it on pace to reach its $12.5bn fundraising target despite ongoing market volatility.

The Stockholm-listed firm plans to announce the first close of BPEA Private Equity Fund IX next week. The fund could reach its target by summer, with a hard cap set at $14.5bn later this year.

KKR-backed InCred to raise $174m for private credit fund. (Bloomberg)

InCred Financial Services’ private credit arm plans to raise INR15bn ($174m) through a new fund to meet rising demand for private lending.

InCred Alternative Investments will focus on providing capital to small and mid-sized companies, particularly those backed by institutional investors.

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