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AMERICAS

BlackRock-backed HPS Investment Partners to acquire ElmTree Funds.

BlackRock-backed HPS Investment Partners, an investment firm, agreed to acquire ElmTree Funds, a real estate investment firm, according to press releases. Financial terms were not disclosed.

BlackRock is advised by Skadden Arps Slate Meagher & Flom, Fried Frank Harris Shriver & Jacobson, and Sidley Austin. HPS Investment Partners is advised by Goldman Sachs. ElmTree Funds is advised by Berkshire Global Advisors and Kirkland & Ellis, according to press releases.

TPG completes the acquisition of hospitality solutions business of Sabre for $1.1bn.

TPG, a private equity investment firm, completed the acquisition of hospitality solutions business of Sabre, a travel technology company, for $1.1bn, according to press releases.

TPG was advised by William Blair & Co and Davis Polk & Wardwell. Sabre was advised by Evercore and Haynes Boone (led by Dan Malone and Joshua Reisman), according to press releases.

White Mountains to acquire 51% stake in Distinguished Programs.

White Mountains, a diversified insurance and related financial services holding company, agreed to acquire 51% stake in Distinguished Programs, a provider of specialized insurance programs to brokers and agents, according to press releases. Financial terms were not disclosed.

Distinguished Programs is advised by Mayer Brown and Willkie Farr & Gallagher. White Mountains is advised by Cravath Swaine & Moore, according to press releases.

Blackstone Real Estate to acquire Sunseeker Resort Charlotte Harbor from Allegiant for $200m.

Blackstone Real Estate, a real estate investment firm, agreed to acquire Sunseeker Resort Charlotte Harbor, a brand-new resort with extensive core amenities, from Allegiant, an integrated travel company with an airline, for $200m, according to press releases.

Allegiant is advised by Barclays, according to press releases.

Izzi Software to acquire CNX Corporation.

Izzi Software, a software company, agreed to acquire CNX Corporation, a technology company, according to press releases. Financial terms were not disclosed.

Izzi Software is advised by VerbFactory (led by Cameron Thomas), according to press releases.

inMorphis completes the acquisition of servicenow business unit from Solugenix.

inMorphis, a global IT consulting and services organization, completed the acquisition of servicenow business unit from Solugenix, a technology company that offers a wide range of digital solutions and engineering services, according to press releases. Financial terms were not disclosed.

Solugenix was advised by Equirus Capital, according to press releases.

Moog to acquire COTSWORKS.

Moog, a manufacturer of precision motion control systems, agreed to acquire COTSWORKS, a supplier of rugged optical components for aerospace and defense, according to press releases. Financial terms were not disclosed.

US Legal Support completes the acquisition of Lynx Legal Services.

US Legal Support, a provider of litigation support services, completed the acquisition of Lynx Legal Services, a process serving firm, according to press releases. Financial terms were not disclosed.

Blackstone, Advent and Warburg Pincus circle Axis Finance in potential $1bn deal. (PE Insights)

Private equity firms Blackstone, Advent International, Kedaara Capital and Warburg Pincus are competing to acquire as much as 100% of Axis Finance, in a potential transaction valued between $800m and $1bn.

The sale process is currently in the due diligence phase, with binding offers expected by the end of September. Morgan Stanley is advising on the transaction.

Axis Finance had previously explored restructuring alternatives such as a reverse merger or an IPO, but those options were ultimately set aside in favor of a full sale.

General Atlantic eyes $2.4bn IPO for Joe & the Juice. (PE Insights)

General Atlantic is exploring a potential US initial public offering of Danish juice and coffee chain Joe & the Juice, in a move that could value the business at around $2.4bn.

The private equity firm has begun preliminary discussions with potential advisers, with a listing possible as early as 2026. While still at an early stage, the proposed IPO would mark a milestone for General Atlantic, which acquired a majority stake in the company from Valedo Partners in 2023.

The move reflects General Atlantic’s broader strategy to scale global consumer brands and pursue capital markets exits for mature portfolio companies. A listing of Joe & the Juice would also signal renewed investor interest in branded lifestyle and food chains.

One Rock Capital Partners raises $4bn for Fund IV, Emerald Fund and related vehicles. (Press Release)

Private equity firm One Rock Capital Partners has announced the final close of $4bn in capital commitments across two new funds and related vehicles: its flagship One Rock Capital Partners IV and the newly launched lower middle market-focused One Rock Emerald Fund.

This marks the firm's largest fundraising to date, significantly surpassing the $2bn raised for its previous fund in 2021. With the latest close, One Rock now manages over $10bn in cumulative capital commitments.

EMEA

Wabtec to acquire Frauscher Sensor Technology Group for €675m.

Wabtec, a technology company, agreed to acquire Frauscher Sensor Technology Group, a company specializing in wheel sensor technology, for €675m ($794m), according to press releases.

Wabtec is advised by Jones Day (led by Robert Profusek and Michiel Huizinga), according to press releases.

Ithaca Energy completes the acquisition of North Sea business of JAPEX for $136m.

Ithaca Energy, a North Sea oil and gas operator, completed the acquisition of North Sea business of JAPEX, a hydrocarbon exploration, production, and transportation company, for $136m, according to press releases.

Ithaca Energy was advised by FTI Consulting, according to press releases.

DENSO completes the acquisition of Axia Seeds.

DENSO, a global supplier of advanced automotive technology, systems, and components for major automakers, completed the acquisition of Axia Seeds, an innovative breeding company, specialised in creating vegetable seeds for protected crops, according to press releases. Financial terms were not disclosed.

Axia Seeds was advised by Jefferies & Company, according to MergerLinks data.

Briarcliffe Credit Partners completes the acquisition of Branch Advisory.

Briarcliffe Credit Partners, a placement agency dedicated to private credit, completed the acquisition of Branch Advisory, a European placement agent, according to press releases. Financial terms were not disclosed.

MET Group completes the acquisition of KGE.

MET Group, an energy company, completed the acquisition of KGE, a natural gas storage facilities, according to press releases. Financial terms were not disclosed.

Spain's Bankinter CEO mulls acquisitions for European expansion. (Bloomberg)

Bankinter is exploring opportunities to grow beyond its home market, potentially through acquisitions, as part of a broader push to significantly increase the share of its international revenue over the next decade.

Spain’s fifth-largest lender by assets is targeting new markets within the eurozone, with a focus on deals of a manageable scale. The expansion could also take place organically, with the goal of increasing overseas revenue from a projected 18% in 2026 to 20% by 2029, and eventually to one-third of total revenue within five to ten years.

APAC

Australian telco Vocus receives government nod for TPG Telecom deal. (Reuters)

Macquarie-backed Vocus Group has received final approval for its AUD5.25bn ($3.42bn) acquisition of TPG Telecom’s enterprise, government and wholesale fixed-line and fibre business.

The transaction, first announced in 2024, had already cleared regulatory hurdles including a green light from the Australian Competition and Consumer Commission in March. The deal significantly strengthens Vocus’s position as one of the largest owners of underground fibre infrastructure in the country.

Vocus Group is advised by UBS and GRACosway (led by Ben Wilson). TPG Telecom is advised by Ernst & Young and Allens (led by Gavin Smith), according to MergerLinks data.

Capgemini to acquire WNS for $3.3bn.

Capgemini, a global consulting company, agreed to acquire WNS, a business process management company, for $3.3bn, according to press releases.

Capgemini is advised by Barclays and Citigroup. WNS is advised by JP Morgan, according to press releases.

Mitsubishi Electric completes the investment in Things.

Mitsubishi Electric, a multinational electronics and electrical equipment manufacturing company, completed the investment in Things, a startup focused on product lifecycle management systems, according to press releases. Financial terms were not disclosed.

CVC, Permira, EQT in talks to buy India's Nuvama Wealth from PAG. (The Economic Times)

CVC Capital Partners, Permira, and EQT are in discussions to acquire a controlling stake in Nuvama Wealth Management, formerly known as Edelweiss Wealth Management, in a transaction that could value the firm at up to $1.6bn.

The talks center around the 54.78% stake held by Asia-Pacific-focused investment firm PAG, which has controlled Nuvama since a $325m investment in 2021. The potential buyout has drawn broad interest, with HSBC also competing for the stake.

OMRON forms strategic partnership with Japan Activation Capital to boost long-term growth. (Press Release)

OMRON Corporation has entered into a strategic partnership with Japan Activation Capital (JAC), aimed at accelerating sustainable growth and enhancing long-term corporate value. Under the agreement, OMRON will work closely with JAC—an existing shareholder through its managed funds—to advance their shared vision for the company’s future.

The collaboration is expected to leverage JAC’s strategic expertise to support OMRON’s broader initiatives in value creation and long-term development.

Apple supplier Lens Technology nets $607m in HK IPO. (Bloomberg)

Lens Technology, a supplier to Apple, has raised HKD4.8bn ($607m) through its Hong Kong listing after pricing shares at the top end of the marketed range.

The Shenzhen-listed firm sold 262.3m shares at HKD18.18 ($2.31) each, the highest point of its offer range of HKD17.38 ($2.21) to HKD18.18 ($2.31). The outcome reflects strong investor demand and confirms earlier expectations for a high-end pricing.

Jio BlackRock raises more than $2.1bn through debut mutual fund offers. (Reuters)

Jio BlackRock Asset Management has raised more than $2.1bn across three mutual fund schemes focused on cash and debt markets, marking its first offering since securing regulatory approval in May.

The joint venture between Jio Financial Services, a part of Mukesh Ambani’s Reliance Industries, and US-based BlackRock launched the three-day offering with a strong investor response. More than 90 institutional investors and over 67k retail participants took part.

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