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AMERICAS
Select Medical executives Robert A. Ortenzio and Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe agreed to acquire Select Medical Holdings for $3.9bn, according to press releases.
Select Medical is advised by Goldman Sachs, Dechert (led by Steve Leitzell) and Skadden Arps Slate Meagher & Flom (led by Allison Schneirov). The buyers are advised by Barclays, JP Morgan, Wells Fargo Securities, Cravath Swaine & Moore and Ropes & Gray. Debt financing is provided by JP Morgan and Wells Fargo Securities. Debt providers are advised by Paul Hastings, according to press releases and MergerLinks data.
BC Partners-backed ContextLogic, a business ownership platform, completed the acquisition of US Salt, a producer of high-purity food and pharmaceutical-grade salt, from Emerald Lake Capital, a growth-oriented middle market private equity firm, for $908m, according to press releases.
BC Partners was advised by Proskauer Rose (led by Jonathan Gill and Benjamin E. Rubin) and Kekst CNC (led by Daniel Yunger). Debt financing was provided by Blackstone Credit. Blackstone Credit was advised by Latham & Watkins (led by Stelios Saffos). ContextLogic was advised by Houlihan Lokey, Rothschild & Co (led by David Baron) and McDermott Will & Schulte (led by Eleazer Klein and Heidi Steele). Emerald Lake was advised by Kirkland & Ellis. Abrams Capital was advised by Ropes & Gray (led by Craig Marcus), according to MergerLinks data and press releases.
A consortium led by Global Infrastructure Partners, an infrastructure investment fund making both equity and selected debt investments, and EQT, an investment firm, agreed to acquire The AES Corporation, a provider of renewable energy solutions, for $33.4bn, according to press releases.
The AES Corporation is advised by JP Morgan, Wells Fargo Securities, Davis Polk & Wardwell, Joele Frank (led by Michael Freitag) and Skadden Arps Slate Meagher & Flom (led by Pankaj K Sinha). Global Infrastructure Partners, CalPERS and Qatar Investment Authority are advised by Goldman Sachs. Global Infrastructure Partners is advised by Kirkland & Ellis. EQT is advised by Citigroup and Simpson Thacher & Bartlett , according to MergerLinks data and press releases.
ITT, a provider of highly engineered critical components and manufacturer of innovative technologies, completed the acquisition of SPX FLOW, a provider of highly engineered equipment and process technologies, from Lone Star Funds, an investment firm, for $4.8bn, according to press releases.
ITT was advised by Goldman Sachs, UBS and Paul Hastings (led by Eduardo Gallardo). Lone Star Funds was advised by Citigroup (led by Brian Link), Jefferies & Company (led by Richard Burke), Gibson Dunn & Crutcher (led by Joe Orien), Headland Consultancy and Joele Frank (led by Erik Carlson), according to MergerLinks data and press releases.
Charles Schwab, an American multinational financial services company, completed the acquisition of Forge Global, a provider of commodities and securities brokerage services, for $660m, according to press releases.
Blackstone-backed Power Grid Components, a designer and manufacturer of critical components, completed the acquisition of MacLean Power Systems, a manufacturer of engineered components, according to press releases. Financial terms were not disclosed.
MacLean Power Systems was advised by Lincoln International, Morgan Stanley, Wells Fargo Securities and Kirkland & Ellis. Power Grid Components was advised by Barclays, Jefferies & Company, UBS and Vinson & Elkins. Centerbridge Partners was advised by Kekst CNC (led by Anntal Silver and Jeremy Fielding), according to press releases and MergerLinks data.
Thoma Bravo, the world's largest technology-focused investment firm, agreed to acquire WWEX Group, a third-party logistics provider of parcel and freight services, according to press releases. Financial terms were not disclosed.
Pacific Avenue Capital Partners, a global private equity firm, agreed to acquire Care.com, one of the largest online marketplaces for finding family care and care jobs, from IAC, an American holding company, for $320m, according to press releases.
Pacific Avenue Capital Partners is advised by Moelis & Co and Weil Gotshal and Manges. IAC is advised by JP Morgan and Latham & Watkins (led by Amber Banks and Thomas Engelhardt), according to press releases.
Blackstone-backed Enverus, a data, software, and insights company, agreed to acquire Spatial Business Systems, an intelligent design automation platform, from Peak Rock Capital, a private equity firm, according to press releases. Financial terms are not disclosed.
Spatial Business Systems is advised by Lazard, Lincoln International and Kirkland & Ellis. Peak Rock Capital is advised by Kekst CNC (led by Daniel Yunger), according to press releases.
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.
Visa, a global payments technology company, completed the acquisition of Prisma Medios de Pago, a digital payments company, and Newpay, a payments technology provider, from Advent International, a private equity firm, according to press releases. Financial terms were not disclosed.
Visa was advised by JP Morgan. Advent International was advised by Morgan Stanley and Simpson Thacher & Bartlett, according to press releases and MergerLinks data.
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.
Accel-KKR, a global technology–focused private equity firm, completed an investment in Whip Around, a fleet maintenance and compliance software provider, according to press releases. Financial terms were not disclosed.
Accel-KKR was advised by Kekst CNC (led by Todd Fogarty). Whip Around was advised by Raymond James, according to press releases.
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.
Amazon, NVIDIA, two technology companies, and SoftBank, an investment holding company, led a $110bn investment round in OpenAI, an artificial intelligence research organization, according to press releases.
OpenAI was advised by Wachtell Lipton Rosen & Katz (led by Andrew Nussbaum), according to MergerLinks data.
Investment companies NBIM, Brookfield and British Columbia Investment Management Corporation to form a $2.6bn joint venture, managing a portfolio of North American renewable energy assets, according to press releases.
Brookfield is advised by TD Securities, according to press releases.
GI Partners, a private equity firm, agreed to acquire the CDMO and Cell Solutions businesses from Charles River, a pharmaceutical and biotechnology contract research organisation, according to press releases. Financial terms were not disclosed.
Tonka Bay, a private equity firm, completed the investment in CAMP Digital, a tech-enabled marketing platform purpose-built for the home services industry, according to press releases. Financial terms were not disclosed.
CAMP Digital was advised by Jegi Leonis, according to MergerLinks data and press releases.
Axel Springer, a media company, completed the acquisition of Bisnow, a commercial real estate media and events company, from The Wicks Group, a private equity firm, according to press releases. Financial terms were not disclosed.
Bisnow was advised by BrightTower (led by Sam Barthelme), according to press releases and MergerLinks data.
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.
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.
TPG Capital-backed The Rise Fund, a global fund committed to achieving positive social and environmental outcomes alongside competitive financial returns, completed a $250m investment in Findhelp, a company specializing in social care technology that connects people with resources such as food assistance, housing support, medical care, financial help, and employment‑related services, according to press releases.
Springcoast Capital Partners, a growth equity firm, completed a $180m investment in Cart.com, a provider of unified commerce and logistics solutions, according to press releases.
Lumination Partners, a private equity firm, and DC Ventures, an early-stage focused venture capital investment and startup advisory firm, led a $50m Series C round in Polares Medical, a medical device company with a novel device for treating mitral valve regurgitation, according to press releases.
Lee Equity Partners, a private equity firm, completed the acquisition of KCIC, a consulting firm specialising in helping corporate clients manage high value tort-system liabilities, related insurance assets and litigation challenges, according to press releases. Financial terms were not disclosed.
BlackRock-backed group pushes to close ports deal without Panama assets. ( FT)
A BlackRock‑backed consortium is seeking to complete its acquisition of CK Hutchison’s global ports business without two terminals in Panama, after authorities seized the assets.
Mediterranean Shipping and the US‑listed asset manager are in discussions with CK Hutchison about purchasing roughly 41 ports across Europe, Southeast Asia and the Middle East.
Stonepeak and Bernhard in talks to buy Cleco Power at $5bn valuation. ( Bloomberg)
Stonepeak and Bernhard Capital are in advanced talks to acquire Cleco Power from Macquarie. The deal would value the utility at more than $5bn in enterprise value.
The transaction remains under discussion and could face competing interest. Macquarie has not made a final decision on a sale.
Centurium in advanced talks to acquire Blue Bottle. ( Bloomberg)
Centurium Capital Partners is in advanced talks to acquire Nestlé’s Blue Bottle Coffee. The private equity firm is finalizing terms for the coffee roaster and retailer.
Centurium previously backed the turnaround of Luckin Coffee. The transaction would mark an exit for Nestlé from the specialty coffee chain.
GIP and EQT nearing deal to acquire AES. ( Bloomberg)
BlackRock’s Global Infrastructure Partners and EQT are in advanced talks to acquire power company AES. Discussions are at a progressed stage.
AES has a market value of about $11.6bn after shares rose more than 55% over the past year. The company rescheduled its full-year earnings for March 3.
Warburg Pincus is set to invest in Global Eggs at $8bn valuation. ( Bloomberg)
Warburg Pincus is set to invest up to $1bn in Global Eggs, valuing the producer at as much as $8bn.
The investment will come from Warburg Pincus’ Capital Solutions Founders Fund, giving the firm exposure to one of the world’s largest egg producers as consolidation and scale continue to reshape the global food‑supply sector.
Medline’s PE backers start stake sale worth $3.4bn. ( Bloomberg)
Medline shareholders are offering 75m shares in the company, taking advantage of a rally in the medical supplier’s stock since its debut late last year.
Shareholders, including Blackstone, Carlyle Group, Hellman & Friedman, and the Abu Dhabi Investment Authority, are selling the shares. The stake would be worth about $3.4bn based on March 2nd’s closing price.
Capital Group, KKR launch first PE fund for everyday investors. ( Bloomberg)
Capital Group and KKR are expanding their efforts to bring private‑equity exposure to retail investors with the launch of a new fund that blends investments in private companies with US equities.
The vehicle, called Capital Group KKR US Equity+, follows two funds introduced last year that combined public and private debt. The new product will invest in and alongside KKR strategies that are typically unavailable to retail investors.
Blackstone plans public vehicle for AI data-center acquisitions. ( Bloomberg)
Blackstone is launching a publicly traded vehicle to acquire data centers, giving retail investors exposure to the AI boom. The company will target digital infrastructure assets.
The firm is seeking initial backing from sovereign wealth funds and plans to raise tens of billions from a broader investor base. The move expands its push into AI-linked infrastructure.
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
Aluminium Bahrain, the world's largest aluminium smelter ex-China, agreed to acquire Aluminium Dunkerque, the European Union’s largest primary aluminium smelter from American Industrial Partners, a private equity firm, according to press releases. Financial terms were not disclosed.
Alba is advised by Rothschild & Co, BDGS Associes, White & Case and Teneo (led by Virginie Christnacht). AIP is advised by Goldman Sachs, Messier & Associes, Societe Generale, Baker Botts, Jones Day (led by Vica Irani and David Swinburne) and Brunswick Group (led by Nicolas Grange), according to press releases and MergerLinks data.
JF Lehman & Company, a middle-market private equity firm, completed the acquisition of Forged Solutions Group, a manufacturer specializing in high-quality forgings for aerospace, according to press releases. Financial terms were not disclosed.
JF Lehman & Company was advised by Evercore and Jones Day. Debt financing was provided by Audax Group and HPS Investment Partners. Forged Solutions Group was advised by Goldman Sachs, Perella Weinberg Partners and Sheppard Mullin Richter & Hampton, according to press releases.
Avista Healthcare Partners and Damier Group-backed PK Consumer Health, a consumer healthcare platform, agreed to acquire HealthAid, a manufacturer of nutritionally balanced supplements, according to press releases. Financial terms are not disclosed.
Avista Healthcare Partners is advised by Kekst CNC (led by Daniel Yunger). PK Consumer Health is advised by OC&C Strategy Consultants, Eight Advisory and Ropes & Gray. HealthAid is advised by Finvos and Higgs and Sons, according to press releases.
Waterland Private Equity, a private equity firm, completed the acquisition of Cooper Turner Beck, a global provider of safety critical fastening solutions, from Watermill Group, a strategy-driven private investment firm, according to press releases. Financial terms were not disclosed.
Watermill Group was advised by Robert W Baird, CMS Legal and Jasso Lopez, according to press releases.
National Wealth Fund, a public finance institution, led a $103m Series D round in Oxa, an autonomous vehicle software company, with participation from NVentures, IP Group, Hostplus and bp Ventures, according to press releases.
Oxa is advised by Nomura, according to press releases.
CPP Investments, an investment firm, and Equinix, a digital infrastructure company, agreed to acquire atNorth, a Nordic high-density colocation and built-to-suit data center provider, from Partners Group, a private equity firm, for $4bn, according to press releases.
Blackstone and Brookfield among bidders for €8bn Volkswagen unit. ( Bloomberg)
Blackstone and Brookfield are bidding at €8bn ($9.4bn) for a majority stake in Volkswagen’s heavy diesel engine unit. The sale involves the Everllence business.
Advent, Bain, EQT and CVC have also advanced in the process. The auction is ongoing for the engine manufacturing unit.
Ares to inject £115m into TalkTalk as potential bidders explore options. ( FT)
TalkTalk is set to receive a further £115m ($155m) capital injection from shareholders and lenders, including Ares Management, as potential buyers assess bids for parts of the UK broadband provider. The package includes £65m ($88m) in new senior debt and a £50m ($67m) short‑term facility, partly replacing a £47m ($63m) facility maturing in March. TalkTalk is exploring sales of both its consumer division (1.8m customers) and its business unit.
Virgin Media O2 has considered acquiring the consumer arm, while Tom O’Hagan of TalkTalk’s PXC wholesale division has sounded out private‑equity firms for a management buyout of the business unit. Octopus Investments may also be interested. The group has struggled under heavy leverage since its £1.1bn ($1.5bn) takeover by Toscafund in 2021 and has required repeated shareholder support, including £235m ($317m) in 2024 and £120m ($162m) in 2025. Whether any sale proceeds remains uncertain.
Coller and Mediobanca to offer PE secondaries fund. ( Bloomberg)
Coller Capital partnered with Mediobanca to offer its private equity secondaries strategy to wealthy Italian clients. The fund had $1.4bn as of December.
The secondaries market grew 41% in 2025 to $226bn in deal volume. The partnership expands Coller’s reach in Europe.
APAC
Stonepeak, an alternative investment firm, completed the investment in Aura Holdings, a retirement living operator. Financial terms were not disclosed, according to press releases.
Stonepeak was advised by Sodali & Co (led by Jack Gordon), according to press releases.
CapitaLand said to be in talks with Mindspace REIT on sale of Chennai Tech Park. ( Bloomberg)
CapitaLand Investment is in talks to sell a technology‑park project in Chennai to Mindspace Business Parks REIT. The discussions center on International Tech Park Chennai, Radial Road, a property owned by a private Indian real‑estate fund managed by CapitaLand Investment.
The 4.6m‑square‑foot (427k‑square‑meter) campus is planned to include four office blocks, according to information on CapitaLand’s website.
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).
Macquarie arm weighing 50% stake in Victoria title registry. ( Bloomberg)
Macquarie Asset Management is studying a 50% stake in Secure Electronic Registries Victoria, valued at AUD4bn ($2.8bn). The company operates Victoria’s land title registry.
Aware Super is working with Barrenjoey on the sale, with indicative bids expected in April. SERV processes property transactions across the state.
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