Presidio went public via a SPAC merger with EQV Ventures in a $660m deal.

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AMERICAS

Pasqal to go public via a SPAC with Bleichroeder Acquisition Corp II.

Pasqal, a developer of neutral-atom quantum computers and currently operates seven quantum systems, agreed to go public via a SPAC with Bleichroeder Acquisition Corp II, a blank check company, according to press releases. Financial terms are not disclosed. The transaction values Pasqal at a pro forma enterprise value of approximately $2.0bn, with a pro forma market capitalization of approximately $2.6bn.

Pasqal is advised by Lazard, Orrick Herrington & Sutcliffe and Solebury Strategic Communications. Bleichroeder is advised by Cantor Fitzgerald, Cohen & Company Capital Markets and Reed Smith, according to press releases.

Trinity Hunt Partners completes an investment in Berger Consulting Group.

Trinity Hunt Partners, a private equity firm, completed an investment in Berger Consulting Group, a provider of economic consulting and damages analysis services for labor and employment disputes, according to press releases. Financial terms were not disclosed.

Berger Consulting Group was advised by American Discovery Capital and Willkie Farr & Gallagher. Trinity Hunt was advised by Kirkland & Ellis and MiddleM Creative (led by Jan Morris), according to press releases.

Kohlberg-backed Riveron completes the investment in Cuesta Partners.

Kohlberg-backed Riveron, a national business advisory firm, completed the investment in Cuesta Partners, a provider of practitioner-led strategic technology advisory and transaction services to business clients, according to press releases. Financial terms were not disclosed.

Cuesta Partners was advised by Canaccord Genuity and Mayer Brown. Riveron was advised by Ropes & Gray (led by Doug Giannantonio) and Vested, according to press releases.

Bonterra completes the acquisition of Deed.

Bonterra, a provider of ethical AI technology for social good organizations, completed the acquisition of Deed, a provider of a workplace giving and volunteering platform that enables employees to donate time, money, and skills to nonprofits they care about, according to press releases. Financial terms were not disclosed.

Deed was advised by Raymond James and Orrick Herrington & Sutcliffe. Bonterra was advised by Berenson & Co and Skadden Arps Slate Meagher & Flom, according to press releases.

Surgery Partners completes the acquisition of Preferred Vascular Group.

Surgery Partners, an operator of surgical facilities and ancillary services, provides healthcare experiences between providers and patients, completed the acquisition of Preferred Vascular Group, a provider of outpatient vascular medical services focused on minimally invasive diagnosis and treatment of venous and arterial conditions, according to press releases. Financial terms were not disclosed.

Preferred Vascular Group was advised by Ziegler (led by Andrew Colbert and Dustin Greene) and Benesch Friedlander Coplan & Aronoff. Surgery Partners was advised by McDermott Will & Schulte, according to press releases.

Oaktree-backed Radial Entertainment completes the acquisition of New Dominion Pictures.

Oaktree-backed Radial Entertainment, a global entertainment company, operating the FilmRise and Shout! Studios brands, completed the acquisition of New Dominion Pictures, an established producer and distributor of nonfiction programming, according to press releases. Financial terms were not disclosed.

New Dominion Pictures was advised by CAA Evolution and Williams Mullen. Radial Entertainment was advised by Greenberg Traurig, according to press releases.

Nasuni completes the acquisition of Resilio.

Nasuni, an enterprise data platform and hybrid cloud solutions provider, completed the acquisition of Resilio, a provider of high-performance file synchronization and edge acceleration technology, according to press releases. Financial terms were not disclosed.

Resilio was advised by KPMG. Nasuni was advised by Brackendale Consulting and V2 Communications, according to press releases.

LuminArx Capital Management led a $550m Series C round in Sierra Space.

LuminArx Capital Management, a global alternative investment manager, led a $550m Series C round in Sierra Space, a privately held aerospace company, with participation from General Atlantic, Coatue, Moore Strategic Ventures, and Andalusian Private Capital, according to press releases.

Sierra Space was advised by Moelis & Co. LuminArx was advised by Longacre Square Partners (led by Kate Sylvester and Dan Zacchei), according to press releases.

One Call to acquire Data Dimensions from Thompson Street Capital.

One Call, a technology-enabled provider in ancillary services and care management, agreed to acquire Data Dimensions, an Electronic Data Interchange clearinghouse and technology services provider, from Thompson Street Capital, a private equity firm, according to press releases. Financial terms are not disclosed.

One Call is advised by Moelis & Co and Davis Polk & Wardwell, according to press releases.

Vista Equity Partners completes the investment in Portside.

Vista Equity Partners, a private equity firm, completed the investment in Portside, a cloud-based integrated platform for business aviation, according to press releases. Financial terms were not disclosed.

Portside was advised by Lowenstein Sandler. Vista Equity Partners was advised by Kirkland & Ellis, according to press releases.

Morningside Ventures, IAG Capital Partners and Starbloom Capital led $105m Series C round in Cognito Therapeutics.

Morningside Ventures, IAG Capital Partners and Starbloom Capital, a private equity firms, led $105m Series C round in Cognito Therapeutics, late clinical-stage neurotechnology company, with participation from New Vintage, Apollo Health Ventures and Benvolio Group, according to press releases.

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

Mariner completes the acquisition of Cowell Insurance Services.

Mariner, a financial planning services provider, completed the acquisition of Cowell Insurance Services, a provider of program administration and risk management services for niche insurance programs and group or individual self-insured employers, according to press releases. Financial terms were not disclosed.

Mariner was advised by Hot Paper Lantern (led by Remi Yuter), according to press releases.

Emigrant Bank to acquire Fortis Management Group.

Emigrant Bank, a private American financial institution, agreed to acquire Fortis Management Group, a provider of comprehensive family office services to ultra-high-net-worth individuals and families, according to press releases. Financial terms are not disclosed.

Emigrant Bank is advised by PRCG | Haggerty, according to press releases.

Balerion Space Ventures led a $500m funding round in Vast.

Balerion Space Ventures, an investment firm, led a $500m funding round in Vast, the company developing next-generation space stations, with participation from IQT, Qatar Investment Authority, Mitsui, MUFG, Nikon, Stellar Ventures, Space Capital, and Earthrise Ventures, according to press releases.

Praesidian Capital-backed Round 2 completes the acquisition of Lionel.

Praesidian Capital-backed Round 2, a company that specializes in producing and selling a variety of collectible products, completed the acquisition of Lionel, a company that designs, manufactures, and sells model trains and railroad-related products, according to press releases. Financial terms were not disclosed.

Smithbucklin completes the acquisition of McKinley Advisors.

Smithbucklin, a professional services company, completed the acquisition of McKinley Advisors, a management consulting firm specializing in strategic guidance, research, and organizational excellence, according to press releases. Financial terms were not disclosed.

Owner of Four Loko explores sale of storied alcohol brand. (Reuters)

Phusion Projects, the parent company of the Four Loko canned alcoholic beverage brand, is exploring a sale that could value the business at around $400m.

The Chicago-based company is working with JPMorgan on the potential sale process. Discussions are ongoing and may not result in a finalized transaction.

AI fears temper interest as private equity firms weigh data company deals. (Bloomberg)

FactSet has drawn interest from Thoma Bravo and Hellman & Friedman, with both private equity firms evaluating a potential acquisition after AI-related concerns contributed to a 39% drop in its shares over the past six months.

Shares of competitor Morningstar and data research firm Gartner have similarly fallen by 27.6% and 29.5% since early September, prompting investor interest in a potential sale. However, the sharp pullback in stock prices, which makes all three companies attractive takeover targets, is also leading the private equity firms to reassess any potential deals.

Blackstone taps private credit to fund Champions Group buyout. (Bloomberg)

Blackstone financed its acquisition of residential services provider Champions Group with a private credit loan exceeding $1bn, as buyout firms and lenders seek safer bets amid sectors exposed to artificial intelligence disruption.

The loan was priced at 4.5 percentage points over the benchmark rate, one of the tightest spreads typically offered in private credit.

Goldman Sachs further sweetens terms on loan for DuPont unit's sale. (Bloomberg)

Goldman Sachs has further sweetened terms on a downsized $1.25bn financing package tied to Arclin’s acquisition of the aramids business from DuPont, as leveraged loan markets remain under pressure.

The term loan B is now being offered at a discounted price of 92 cents on the dollar, compared with the previously revised range of 93 to 94 cents disclosed in late February. The deadline for lender commitments has also been extended as discussions with investors continue.

Nvidia CEO Huang rules out $100bn OpenAI investment. (Bloomberg)

Nvidia Chief Executive Jensen Huang said the company’s investments in OpenAI are unlikely to reach the previously pledged $100bn.

Speaking at a Morgan Stanley conference in San Francisco, Huang noted OpenAI’s potential plan to go public later this year, adding that this could be the last opportunity to invest in a company of such scale.

KKR's Nuttall says the firm is making a shopping list amid market turmoil. (Bloomberg)

KKR co-chief executive Scott Nuttall said the firm is compiling a list of potential acquisition targets as it prepares to take advantage of market volatility, but cautioned that it is not yet ready to act.

Speaking at the Bloomberg Invest conference in New York, Nuttall said the focus is on being prepared to move when opportunities arise.

EMEA

Apheon-backed TMC to acquire Wartenbergh Engineering Bureau.

Apheon-backed TMC, a provider of technical and R&D expertise, agreed to acquire Wartenbergh Engineering Bureau, a provider of outsourced engineering capacity, technical consultancy, and project delivery, according to press releases. Financial terms were not disclosed.

Wartenbergh Engineering Bureau is advised by Rembrandt (led by David Linders) and Heron Legal (led by Maurice van Valen). TMC Group is advised by Deloitte (led by Bas Bennink), Roland Berger, DLA Piper (led by Casper Hamersma) and Svalner Atlas (led by Bas Leensma), according to press releases and MergerLinks data.

TITAN Group completes the acquisition of Traçim Cement for $190m.

TITAN Group, an international business in the building and infrastructure materials industry, completed the acquisition of Traçim Cement, a producer of cement and clinker, for $190m, according to press releases.

Oura to acquire Doublepoint.

Oura, a health technology company, agreed to acquire Doublepoint, a company that specializes in AI‑driven, biometric, gesture recognition technology, according to press releases. Financial terms are not disclosed.

Arcline joins the list of bidders for UK aerospace supplier Senior. (Reuters)

British aerospace supplier Senior said Arcline Investment Management has made a preliminary all-cash offer for the company, as discussions with other potential buyers continue.

The manufacturer, which supplies components to Boeing and Airbus, disclosed in February that it had received five proposals, including from Advent International and a consortium of Tinicum and Blackstone.

Global firms and investors are in a share sale rush as the Middle East conflict erupts. (Reuters)

Companies and investors, including those from the Gulf, have launched large share sales raising tens of billions of dollars in recent days despite escalating tensions in the Middle East.

Around $20bn of equity deals were struck globally over three trading days from February 27 to March 3, accounting for nearly 16% of the roughly $130bn in offerings launched so far this year, according to LSEG data. The pace of dealmaking during the period was nearly triple the average daily volume over the previous two months.

EU shortlists Swedish and UK firms to manage €5bn tech fund. (Bloomberg)

A planned European Union fund aimed at financing companies in quantum computing, artificial intelligence, and other deep-tech sectors has shortlisted management firms from France, Sweden, and the UK.

The EU is expected to select an external manager for its planned €5bn ($5.8bn) Scaleup Europe Fund in April from among EQT, Northzone, Eurazeo, Atomico, and Vitruvian Partners.

Neura Robotics is raising €1bn in a round backed by Tether. (Bloomberg)

German startup Neura Robotics is raising about €1bn ($1.2bn) in a funding round backed by stablecoin issuer Tether Holdings to develop an artificial intelligence-powered humanoid robot.

The round values the Metzingen-based company at roughly €4bn ($4.64bn) and could be followed by additional fundraising.

Ukraine battlefield tech firm UFORCE nears $1bn valuation. (Bloomberg)

A defense-technology startup born out of Ukraine’s battlefield is emerging with a valuation exceeding $1bn, as Western and Gulf militaries seek systems proven in combat.

UFORCE, which combines nine Ukrainian defense companies, raised $50m in a funding round led by Shield Capital and Lakestar, with participation from Ballistic Ventures.

APAC

Chinese contact lens maker Moody to mull $1bn sale. (Bloomberg)

Shanghai Moody Technology is considering a sale that could value the colored contact lens maker at about $1bn.

The company is working with an adviser and may gauge interest from potential buyers in the coming months.

TPG considers the sale or IPO of Asia OneHealthcare. (Bloomberg)

TPG is considering a sale or initial public offering for Asia OneHealthcare amid rising deal activity for private equity-owned assets.

The firm has consulted advisers working on a separate IPO by Sunway Healthcare Holdings to evaluate its options. The Kuala Lumpur-based medical services provider could be valued at up to MYR30bn ($7.6bn).

K Bank share pop fizzles in debut on volatile Korean market. (Bloomberg)

K Bank shares erased an early surge following a KRW498bn ($346m) initial public offering on South Korea’s stock exchange.

The digital lender’s shares closed at KRW8.33k ($5.66), near the IPO price of KRW8.3k ($5.64), after rising as much as 19% in early trading and later falling by up to 2.2%.

GM-backed driverless tech firm Momenta confidentially filed for IPO in Hong Kong. (Bloomberg)

Beijing Momenta Technology has filed confidentially for a Hong Kong initial public offering, joining a wave of share sales in the Asian financial hub.

The autonomous driving startup, backed by General Motors and Tencent, is working with China International Capital Corp and Deutsche Bank on the listing and has been meeting investors to gauge interest.

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