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Top Highlights
A consortium of investors including PIF, Silver Lake, and Affinity Partners, completed the acquisition of Electronic Arts, an American video game company, in a $55bn deal, according to press releases.
PIF, Silver Lake, and Affinity Partners were advised by JP Morgan and Kirkland & Ellis. Debt financing was provided by JP Morgan. PIF was also advised by A&O Shearman, Gibson Dunn & Crutcher (led by Richard Birns), White & Case, FGS Global and Teneo (led by Stephen Cohen and Philippe Blanchard). Silver Lake was also advised by Latham & Watkins and Simpson Thacher & Bartlett. Affinity Partners was also advised by Sidley Austin (led by Perry J. Shwachman). Electronic Arts was advised by Goldman Sachs, Clifford Chance (led by Philipp Girardet), Wachtell Lipton Rosen & Katz (led by Edward D. Herlihy, David Lam and Eric Feinstein) and FGS Global (led by John Christiansen). Goldman Sachs was advised by Paul Weiss Rifkind Wharton & Garrison (led by Laura Turano and Scott Barshay), according to press releases and MergerLinks data.
Montagu and Kohlberg, the private equity firms, completed the acquisition of Teleflex Medical OEM, a manufacturer specializing in the design and development of medical devices, from Teleflex, a provider of medical technology products, for $1.5bn, according to press releases.
Ascensus, an American financial services company, completed the acquisition of AmericanTCS, a financial services organization that provides technology-enabled solutions, from Parthenon Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Ascensus was advised by JP Morgan, Lazard, DLA Piper, Ropes & Gray, Simpson Thacher & Bartlett and Prosek Partners. AmericanTCS was advised by Raymond James (led by Brendan Ryan), Kirkland & Ellis and Haven Tower Group (led by Lorene Yue), according to press releases and MergerLinks data.
AMERICAS
Hot Topic is said to near $350m sale to Spencer's parent. ( Bloomberg)
FTC takes closer look at merger of vet products distributors. ( Bloomberg)
Paradise Papers law firm explores private equity sale. ( FT)
Polymarket seeks more than $20bn valuation in funding round. ( Bloomberg)
Apollo draws $12bn so far for flagship private equity fund. (Bloomberg)
Lotus Infrastructure Partners raises approximately $1.8bn across multiple funds. ( Press Release)
Gryphon Investors announces close of Gryphon VI Top-Up Co-Investment Partners with over $770m commitments. ( Press Release)
EMEA
US-backed group favored as investor in Tanzania nickel project. ( Bloomberg)
MediaTek-backed African fintech PalmPay eyes Hong Kong IPO. ( Bloomberg)
APAC
Korean golf firm faces investor pushback as buyout expiry nears. ( Bloomberg)
Shionogi CEO seeks drug deals, mulls expanded US production. ( Bloomberg)
Temasek, Morgan Stanley are said to eye Adtek pre-IPO investment. ( Bloomberg)
Mitsubishi UBE Cement is said to plan for December Tokyo IPO. ( Bloomberg)
Taiwan's TCC is said to favor London for IPO of European unit. ( Bloomberg)
Moonshot backer Monolith seeks to raise $500m in new fund. ( Bloomberg)
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COMPANIES
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AMERICAS
Veritas Capital, an American private equity firm, agreed to acquire a majority stake in Trinity Consultants, a provider of engineering and consulting services to the natural and built environment, from Oak Hill Capital, an American private equity firm. Oak Hill, Trinity’s management and employees will retain minority stakes, according to press releases. Financial terms were not disclosed.
Veritas Capital is advised by Gibson Dunn & Crutcher and Prosek Partners. Trinity Consultants and Oak Hill Capital are advised by AEC Advisors, Harris Williams & Co, JP Morgan, Robert W Baird and Paul Weiss Rifkind Wharton & Garrison. Oak Hill is also advised by Prosek Partners (led by Trevor Gibbons), according to press releases.
Francisco Partners, an American private equity firm, agreed to acquire a majority stake in Command Alkon, a US-based provider of software and technology solutions for the heavy building materials industry, from Thoma Bravo, a private equity firm. Heidelberg Materials will retain a significant minority stake in Command Alkon, according to press releases. Financial terms were not disclosed.
Francisco Partners is advised by Deutsche Bank, Paul Hastings and Prosek Partners. Thoma Bravo and Command Alkon are advised by Evercore, Kirkland & Ellis and FGS Global (led by Akash Lodh). Heidelberg Materials is advised by Skadden Arps Slate Meagher & Flom, according to press releases.
ContextLogic, a business ownership platform, agreed to acquire gChem, a US-based manufacturer of dimethyl sulfoxide, dimethyl sulfide and related specialty chemicals, from EagleTree Capital, a private equity firm, and their co-investors, for $850m, according to press releases.
ContextLogic is advised by Piper Sandler and Ropes & Gray. Debt financing is provided by Blackstone Credit & Insurance. gChem is advised by Morgan Stanley and Jones Day. EagleTree Capital is advised by Jones Day (led by Andrew M. Levine and William Sinchuk) and FGS Global (led by Shannon O'Connor), according to press releases and MergerLinks data.
AlixPartners, an American consulting firm, completed the acquisition of Artium, an agentic AI software consulting firm, according to press releases. Financial terms were not disclosed.
AlixPartners was advised by Willkie Farr & Gallagher (led by Adam M. Turteltaub and Morgan McDevitt) and PricewaterhouseCoopers. Artium was advised by Equiteq, Cooley, Morrison Foerster and CBIZ, according to press releases and MergerLinks data.
Procter & Gamble, a global consumer goods company, agreed to acquire Thorne, an American health technology and wellness company that manufactures science-backed nutritional supplements, from L Catterton, a private equity firm, for $3.8bn, according to press releases
Thorne is advised by Perella Weinberg Partners, Canaccord Genuity and Kirkland & Ellis. Procter & Gamble is advised by Jones Day (led by Andrew M. Levine and Ann M. Bomberger), according to press releases and MergerLinks data.
Maurel & Prom, a French oil and gas company, agreed to acquire the Colombia and Ecuador oil business of Gran Tierra Energy, a Canadian energy company engaged in oil and gas exploration, for $1.33bn, according to press releases.
Maurel & Prom is advised by Herbert Smith Freehills Kramer and NewCap. Gran Tierra Energy is advised by Bank of America, Bracewell and RBC Capital Markets, according to press releases.
BV Investment Partners, a middle-market private equity firm, completed the investment in Thomas & Company, a workforce compliance and human resources services firm, according to press releases. Financial terms were not disclosed.
BV Investment Partners was advised by Ropes & Gray and Chris Tofalli Public Relations (led by Chris Tofalli). Thomas & Company was advised by McDermott Will & Schulte and Houlihan Lokey, according to press releases.
The Hartford, a US-based investment and insurance company, agreed to acquire the employee benefits business of Equitable, an American financial services and insurance company, according to press releases. Financial terms were not disclosed.
The Hartford is advised by Rothschild & Co and Sidley Austin. Equitable is advised by JP Morgan and Debevoise & Plimpton (led by Marilyn Lion and Brita Siepker), according to press releases and MergerLinks data.
Access Holdings, an alternative investment manager, completed the acquisition of a majority stake in Reliable Towing, a provider of towing, recovery, and fleet services in the Pacific Northwest. Reliable Towing’s existing investors included Collaborative Capital Management, according to press releases. Financial terms were not disclosed.
Access Holdings was advised by McCarthy Tetrault and McGuireWoods. Collaborative Capital Management was advised by Boughton Law and Hillis Clark Martin & Peterson, according to press releases.
Sheridan Capital Partners, a healthcare-focused private equity firm, completed the investment in Carolina Components Group, a US-based supplier of bioprocessing components and single-use assemblies for biopharmaceutical manufacturers, according to press releases. Financial terms were not disclosed.
Sheridan Capital Partners was advised by Kirkland & Ellis. Carolina Components Group was advised by Houlihan Lokey and McDermott Will & Schulte, according to press releases.
Firefly Capital Management, a private investment firm focused on building and financing companies in critical infrastructure, completed the acquisition of Gravity Power & Rental, a provider of critical power generation and equipment rental infrastructure solutions, according to press releases. Financial terms were not disclosed.
Firefly Capital Management was advised by Davis Graham & Stubbs. Gravity Power & Rental was advised by Piper Sandler and Vinson & Elkins, according to press releases.
Altair Industries, a private equity firm focused on the aerospace and defense sector, completed the acquisition of Central Wire Industries, a manufacturer of specialty alloy wire and cable products serving mission-critical applications. Financial terms were not disclosed.
Central Wire Industries was advised by Holland & Knight. Altair Industries was advised by Greenberg Traurig. Altair Industries and Central Wire Industries were also advised by Stout, according to press releases.
Summit Financial, an SEC-registered investment adviser, completed the acquisition of Kamal Capital Group and M Group Investment Advisor, two independent wealth management and financial advisory practices, according to press releases. Financial terms were not disclosed.
Summit Financial was advised by Chapman Communications Group, according to press releases.
Hearst, a diversified media and information company, agreed to acquire the remaining 50% stake in A+E Global Media, an American multinational broadcasting company that owns several non-fiction and entertainment-based television brands, from The Walt Disney Company, a global entertainment company, for $1.2bn, according to press releases.
Khosla Ventures, a venture capital firm, led a $310m Series B round in Mariana Minerals, a software-first, vertically integrated minerals company, with participation from Andreessen Horowitz, Breakthrough Energy Ventures, Greenoaks, Halo Fund, Pax Ventures, StepStone Group, BHP Ventures, Washington Harbour Partners, Greycroft, General Innovation Capital Partners, Mitsubishi Corporation, In-Q-Tel, and Earthshot Ventures, according to press releases.
Hot Topic is said to near $350m sale to Spencer's parent. ( Bloomberg)
Sycamore Partners is in advanced discussions to sell teen apparel retailer Hot Topic to Spencer Spirit Holdings, ending its 13-year ownership of the business. The transaction could value Hot Topic at about $350m.
A deal could be announced as soon as August 11, although discussions remain ongoing and terms could still change.
FTC takes closer look at merger of vet products distributors. ( Bloomberg)
The agency has sought information from customers and competitors on how the transaction could affect product availability and competition in veterinary practice-management software, which clinics use for patient records, prescriptions and payments.
Paradise Papers law firm explores private equity sale. ( FT)
Appleby is exploring a minority investment from private equity and has shortlisted fewer than 10 potential investors as it evaluates strategic options. Any transaction is unlikely to complete before 2027.
The process reflects growing private equity interest in professional services firms, with Appleby's ownership structure expected to simplify a potential investment.
Polymarket seeks more than $20bn valuation in funding round. ( Bloomberg)
Polymarket is seeking to raise about $1bn in a new funding round that would value the prediction-markets platform at more than $20bn. The fundraising comes just months after the company secured fresh backing from hedge fund D.E. Shaw.
Discussions with potential investors remain at an early stage, and the size, valuation and timing of the round could still change.
Apollo draws $12bn so far for flagship private equity fund. ( Bloomberg)
Apollo Global Management's latest flagship private equity fund has surpassed $12bn in commitments, continuing fundraising toward a target of $25bn that would make it the firm's largest buyout vehicle.
The fund, Apollo's 11th dedicated private equity vehicle, launched earlier in 2026 and is raising capital from institutional investors globally.
Lotus Infrastructure Partners raises approximately $1.8bn across multiple funds. ( Press Release)
Lotus Infrastructure Partners has completed final closings totaling about $1.8bn across Fund IV, future co-investments, and a single-asset continuation vehicle, marking the largest capital raise in the firm's history.
Fund IV will target investments in energy infrastructure, including power generation, transmission, battery storage, biofuels, ammonia, and methanol, as rising electricity demand from AI and industrial activity drives investment in the sector.
Gryphon Investors announces close of Gryphon VI Top-Up Co-Investment Partners with over $770m commitments. ( Press Release)
Gryphon Investors has closed its Gryphon VI Top-Up Co-Investment Partners fund with more than $770m in commitments, exceeding its $650m target in an oversubscribed fundraising.
The fund will invest alongside Gryphon's flagship Gryphon VI vehicle in lower middle-market companies across business services, consumer, healthcare, industrial growth, and technology, and has already participated in five investments.
EMEA
BasePoint Capital, a specialty finance group, completed the acquisition of International Personal Finance, an international financial services business, for £543m, according to press releases.
Mubadala, a sovereign wealth fund, Woven Capital, the corporate venture capital arm of Toyota, and Ion Pacific, a venture capital firm, led a $250m Series C round in Moove, a mobility fintech and infrastructure company, with participation from BlueCrest Capital Management, Sona Asset Management, The Raptor Group, BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, and Ontario Power Generation Pension Plan, according to press releases.
Moove was advised by Zeno Group, according to press releases.
US-backed group favored as investor in Tanzania nickel project. ( Bloomberg)
Lifezone Metals has selected a US government-backed consortium as the preferred investor for the development of its Kabanga nickel project in Tanzania, as Washington seeks to support new supplies of critical minerals.
The preferred bidder, Orion CMC, was established with backing from the US International Development Finance and Abu Dhabi's L'imad Holding to finance strategic mining projects.
MediaTek-backed African fintech PalmPay eyes Hong Kong IPO. ( Bloomberg)
Africa-focused fintech PalmPay is preparing for a potential Hong Kong initial public offering as it seeks to strengthen its position in digital financial services across the continent.
The company is in discussions to raise about $200m in a funding round that values the business at more than $1bn. Deliberations remain ongoing, and the plans could still change.
APAC
Allianz Global Investors, a Germany-based global asset management company, agreed to acquire UOB Asset Management, an asset management firm, from UOB, a Singaporean multinational banking organisation, for €376m ($433m), according to press releases.
Korean golf firm faces investor pushback as buyout expiry nears. ( Bloomberg)
A proposed buyout of South Korean golf technology company Golfzon is facing resistance from minority shareholder Terton Capital, casting doubt over efforts to take the company private. The offer, launched by SJ Holdings, values Golfzon at KRW6,700 ($4.69) per share and expires on August 5.
While Golfzon's board has endorsed the proposal, Terton Capital has rejected the offer as inadequate and said it will not tender its shares.
Shionogi CEO seeks drug deals, mulls expanded US production. ( Bloomberg)
Shionogi is actively pursuing at least three acquisition opportunities as the Japanese drugmaker looks to expand its presence in infectious and rare diseases while diversifying its business geographically.
The company is evaluating targets in the US, Japan and Europe and is also considering expanding its manufacturing footprint in the US as part of a broader effort to reduce geopolitical risk over the next decade.
Temasek, Morgan Stanley are said to eye Adtek pre-IPO investment. ( Bloomberg)
Shenzhen Adtek Technology is close to raising up to CNY2bn ($296m) in a private funding round ahead of its planned Hong Kong initial public offering.
Temasek, Morgan Stanley's private equity arm and CPE are expected to participate in the fundraising. Discussions remain ongoing, and the terms of the round could still change.
Mitsubishi UBE Cement is said to plan for December Tokyo IPO. ( Bloomberg)
The company is working with Citigroup, Mizuho, Morgan Stanley and Nomura as joint global coordinators on the proposed listing. Deliberations remain ongoing, and details could still change.
Taiwan's TCC is said to favor London for IPO of European unit. ( Bloomberg)
TCC Group Holdings is leaning toward listing its European operations in London, with the UK capital emerging as the preferred venue for a potential initial public offering.
The Taiwanese conglomerate has been exploring a European listing with advisers, having previously considered Amsterdam, Frankfurt and Paris. Deliberations remain ongoing and no final decision has been made.
Moonshot backer Monolith seeks to raise $500m in new fund. ( Bloomberg)
Monolith Management is seeking to raise $500m for a new venture capital fund focused on Chinese artificial intelligence, following its investment in AI startup Moonshot. The firm aims to complete fundraising by the end of 2026.
The target size remains flexible and could change as fundraising progresses. Monolith operates across Hong Kong and mainland China.
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