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AMERICAS
Rithm Capital, a private equity firm, agreed to acquire Crestline, an alternative asset management firm, for $17bn, according to press releases.
Crestline is advised by Piper Sandler, Akin Law Office, Jackson Walker, Paul Hastings, Vinson & Elkins and Prosek Partners (led by Ben Howard). Rithm Capital is advised by JP Morgan, Skadden Arps Slate Meagher & Flom and Gasthalter & Co (led by Jonathan Gasthalter and Sam Cohen), according to press releases.
Madison Dearborn Partners, a private equity investment firm, agreed to acquire a significant majority of NFP's wealth business from Aon, a global professional services firm, for $2.7bn, according to press releases.
Madison Dearborn Partners is advised by Goldman Sachs, Kirkland & Ellis, Paul Weiss Rifkind Wharton & Garrison and H/Advisors Abernathy (led by Deven Anand). Aon is advised by Moelis & Co, UBS, Dentons and Skadden Arps Slate Meagher & Flom, according to press releases and MergerLinks data.
Desjardins Group, a financial services company, agreed to acquire Guardian Capital Group, a global investment management company, in a CAD1.67bn ($727m) deal, according to press releases.
Guardian Capital Group is advised by Ernst & Young, BMO Capital Markets, Scotiabank, Borden Ladner Gervais and Torys. Desjardins is advised by Stikeman Elliott and Desjardins. Minic is advised by Baker McKenzie, according to press releases and MergerLinks data.
HealthEdge, a software company, completed the merger with UST HealthProof, a healthcare company, according to press releases. Financial terms were not disclosed.
UST HealthProof was advised by Goldman Sachs, JP Morgan, Davis Polk & Wardwell and Stanton PRM (led by Charlyn Lusk and Scott Lessne). HealthEdge was advised by Evercore. Bain Capital was advised by Ares Management, TripleTree and Kirkland & Ellis, according to press releases.
BlackRock-backed HPS Investment Partners, an investment firm, completed the acquisition of ElmTree Funds, a real estate investment firm, according to press releases. Financial terms were not disclosed.
ElmTree Funds was advised by Berkshire Global Advisors and Kirkland & Ellis (led by Michael Reeves and Jared Maher). BlackRock was advised by Fried Frank Harris Shriver & Jacobson, Sidley Austin and Skadden Arps Slate Meagher & Flom (led by Peter Serating). HPS Investment was advised by Goldman Sachs, according to press releases and MergerLinks data.
STG, a private equity firm, completed the acquisition of Yodlee, an open finance, data aggregation, and analytics firm, from Envestnet, an American financial technology corporation, according to press releases. Financial terms were not disclosed.
STG was advised by Jefferies & Company, KPMG, RBC Capital Markets and Paul Hastings (led by Dana Kromm). Envestnet was advised by Bank of America and Ropes & Gray (led by Jessica F. Cooney and Thomas Fraser), according to MergerLinks data and press releases.
TBO, a global travel distribution platform, agreed to acquire Classic Vacations, a provider of luxury vacation planning services, from The Najafi Companies, a private equity firm, for $125m, according to press releases.
TBO is advised by Cooley and PricewaterhouseCoopers. Classic Vacations is advised by Moelis & Co and Ballard Spahr. The Najafi Companies is advised by Lavidge, according to press releases.
JTB, a Japan travel solutions provider, agreed to acquire Northstar Travel Group, a B2B travel industry events, media and information services company, from EagleTree Capital, a private equity firm, according to press releases. Financial terms were not disclosed.
Northstar Travel Group is advised by BrightTower and Jones Day. JTB is advised by SMBC Nikko Securities, Mori Hamada & Matsumoto and Venable, according to press releases and MergerLinks data.
Neuberger Berman, an investment firm, agreed to invest in Sphera, a provider of integrated operational risk management software and data, according to press releases. Financial terms were not disclosed.
Neuberger Berman is advised by Harris Williams & Co and Latham & Watkins. Sphera and Blackstone are advised by Evercore, William Blair & Co and Simpson Thacher & Bartlett, according to press releases.
A consortium of investors, including Sumitomo, SMBC Aviation Capital, Apollo Global Management, and Brookfield Asset Management, offered to acquire Air Lease, for $7.4bn, according to press releases.
Air Lease is advised by JP Morgan and Skadden Arps Slate Meagher & Flom (led by Thomas Greenberg). SMBC Aviation Capital is advised by Citigroup, according to press releases.
MPLX, a diversified large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics services, completed the acquisition of Northwind Delaware Holdings, a company focused on developing, owning, and operating off-spec gas infrastructure, from Five Point Infrastructure, an energy investment firm, for $2.4bn, according to press releases.
Northwind Delaware was advised by Piper Sandler and Latham & Watkins (led by Lauren A. Anderson). Five Point was advised by Kekst CNC, according to press releases.
Macquarie Asset Management, a financial services firm, agreed to acquire an additional 9% stake in US Gulf Coast infrastructure assets of Dow, a materials science company, for $540m, according to press releases.
Macquarie Asset Management is advised by BMO Capital Markets and Sidley Austin. Dow is advised by Citigroup, according to press releases and MergerLinks data.
Tinicum, a private investment firm, completed the acquisition of Aerospace Products Group, a supplier of complex, highly engineered tube and duct assemblies for use primarily in commercial and military aircraft platforms, from Leggett & Platt, an American diversified manufacturer, for $285m, according to press releases.
Tinicum was advised by Goodwin Procter (led by Lindsay Reed and Chris Wilson). Leggett & Platt was advised by Lazard and Freshfields Bruckhaus Deringer (led by Paul Humphreys) , according to press releases and MergerLinks data.
Vision Ridge Partners, a global sustainable real assets investor, completed a $250m investment in VEMO, a company focused on the clean mobility transition, according to press releases.
VEMO was advised by CarralSierra (led by Joselin Pérez). Vision Ridge was advised by Gasthalter & Co (led by Amanda Shpiner), according to press releases.
ICONIQ, an investment management firm, led a $13bn Series F round in Anthropic, an AI safety and research company, with participation from Fidelity Management & Research Company and Lightspeed Venture Partners, according to press releases.
Apheon, a pan-European private equity investor, agreed to acquire Cain Foods, a manufacturer of clean label ingredients and custom mixes to commercial bakeries, according to press releases. Financial terms were not disclosed.
MillBio is advised by Houlihan Lokey, according to press releases and MergerLinks data.
Rainier Partners, a private equity firm, agreed to acquire Kleen-Tech Services, a janitorial services provider, according to press releases. Financial terms were not disclosed.
Rainier Partners is advised by MiddleM Creative (led by Jan Morris), according to press releases.
Sycamore Partners, a private equity firm, completed the acquisition of CareCentrix, a home-centered care company that coordinates care for health plans, patients, and providers, according to press releases. Financial terms were not disclosed.
Sycamore Partners was advised by Joele Frank (led by Michael Freitag), according to MergerLinks data and press releases.
Battery Ventures, a technology-focused investment firm, completed the acquisition of Enzo Biochem, a life-science research reagents company, according to press releases. Financial terms were not disclosed.
Elliott targets PepsiCo with $4bn stake as shares rise. ( Reuters)
Elliott Management disclosed a $4bn stake in PepsiCo on September 2, starting a push to drive growth and lift the beverage maker’s share price.
The investment, one of Elliott’s largest, comes as PepsiCo navigates weak demand for its snacks and shifts toward healthier drinks to meet changing consumer preferences.
GTCR is said to explore bid for Hellman & Friedman’s SimpliSafe. ( Bloomberg)
Buyout firm GTCR is considering a bid for Hellman & Friedman’s residential security company SimpliSafe.
GTCR is in discussions with HPS Investment Partners to secure about $1.2bn in financing to back a potential acquisition. Additional direct lending firms are also expected to provide funding alongside HPS.
Goldman Sachs to invest $1bn in T. Rowe Price. ( Bloomberg)
Goldman Sachs plans to invest up to $1bn in T. Rowe Price Group and will partner with the asset manager to offer private-market products to retail investors.
Under this uncommon arrangement, Goldman will hold equity in T. Rowe on its balance sheet, despite the asset manager’s stock having fallen more than 50% since its 2021 peak. According to a joint emailed statement, the two companies will work together to provide a variety of investment options for retirement savers and high-net-worth clients
Financial services firm JTC rejects Permira's takeover proposals. ( Reuters)
London-listed financial services company JTC announced on August 29 that it had turned down two initial takeover offers from UK private equity firm Permira over the past 10 days, without providing a reason for the rejection.
Following Permira’s disclosure that talks were underway, JTC’s share price jumped more than 17% on August 29, reaching $15.5 — its highest level since September 2024.
Petrobras open to IG4 plan to take control of Braskem. ( Reuters)
Brazil’s state-controlled oil company Petrobras has shown openness to a proposal from IG4 Capital to acquire engineering group Novonor’s controlling stake in Braskem, the largest petrochemical firm in Latin America.
As Braskem’s second-largest shareholder, Petrobras holds a right of first refusal on Novonor’s stake under the existing shareholder agreement, making its consent essential for the transaction to proceed.
University of Phoenix files for IPO after dropping planned sale. ( Bloomberg)
The University of Phoenix’s parent company has submitted plans for an initial public offering, following the collapse of a proposed $550m sale to another university backed by Apollo Global Management and the Vistria Group.
According to its filing with the US Securities and Exchange Commission, the school’s majority owner, based in Arizona, paid the University of Idaho $12m in June to exit a 2023 deal to sell most of its assets.
Blackstone Strategic Partners closes largest infrastructure secondaries fund at $5.5bn. ( Press Release)
Blackstone announced the final close of $5.5bn for its latest infrastructure secondaries fund, Strategic Partners Infrastructure IV, along with related committed program vehicles. SP Infrastructure IV is now the largest dedicated infrastructure secondaries fund ever raised.
“This fundraise reflects the breadth of our platform, the power of the Blackstone Strategic Partners brand, and our commitment to generating strong risk-adjusted returns for our investors. The substantial scale we’ve built over two decades positions us well to capitalize on the growing opportunity set across the infrastructure secondary market,” Verdun Perry, Blackstone Strategic Partners Senior Managing Director and Global Head.
EMEA
LDC, a private equity investment partner, completed the investment in Bespoke Kitchen Foods, a provider of innovative vegetarian and vegan products for the pub and casual dining market, according to press releases. Financial terms were not disclosed.
CapVest, a mid-market private equity firm agreed to acquire a majority stake in STADA, a healthcare and pharmaceuticals company specializing in consumer healthcare, generics and specialty pharmaceuticals, from Bain Capital and Cinven, a private equity firms, according to press releases. Financial terms were not disclosed.
CapVest is advised by Canson Capital Partners, Centerview Partners and ReputationInc (led by Ben Valdimarsson). Cinven is advised by JP Morgan, according to MergerLinks data and press releases.
KKR, an investment firm, and Inhabeo, a living sector platform, agreed to acquire seven purpose-built student accommodation from Curlew Student Trust, a real estate fund, according to press releases. Financial terms were not disclosed.
KKR is advised by Jones Day and FGS Global (led by Alastair Elwen and Oliver Sherwood). Curlew Student Trust is advised by CMS Legal, according to press releases.
One Equity Partners, a private equity firm, agreed to acquire BARTEC, a provider of explosion protection and safety technology, from Bridgepoint, a private market growth investor, and Alcentra, an alternative credit manager, according to press releases. Financial terms were not disclosed.
One Equity Partners is advised by Jones Day (led by Michiel Huizinga and Philipp Martin). Bridgepoint is advised by Rothschild & Co, according to press releases and MergerLinks data.
Ten Eleven, a venture capital, led a $320m Series B round in IQM Quantum Computers, a company that builds quantum computers, with participation from Tesi, Elo Mutual Pension Insurance, Varma Mutual Pension Insurance, Schwarz Group and Winbond Electronics Corporation, EIC and Bayern Kapital, accordng to press releases.
IQM Quantum Computers was advised by Goldman Sachs, according to press releases.
Mumtalakat and CYVN to take full ownership of McLaren Racing. ( Sky News)
Mumtalakat and CYVN are set to buy out the minority stakes in McLaren Racing held by MSP Sports Capital and other investors, in a deal valuing the Formula One team at more than £3bn ($4bn). The transaction marks a lucrative exit for the investors who helped rescue McLaren’s parent company during the pandemic.
The deal will see McLaren Group’s existing owners — Bahrain’s Mumtalakat sovereign wealth fund and Abu Dhabi-based CYVN — acquire the remaining 30% of McLaren Racing they do not already control.
Aberdeen in exclusive talks to sell Finimize. ( Sky News)
Aberdeen, the FTSE-250 asset management group, is in exclusive talks to sell Finimize, the investment insights platform it acquired for £87m ($118m) just four years ago. The move comes as the firm’s new chief executive continues to unwind parts of his predecessor’s strategy.
The identity of the preferred buyer remains unclear, though sources said London-listed marketing group Brave Bison was among those that had previously explored a deal.
Saudi Prince Alwaleed in talks with PIF to acquire Al Hilal FC. ( Bloomberg)
Saudi billionaire Prince Alwaleed bin Talal is in discussions with the Public Investment Fund to acquire a controlling interest in Al Hilal Football Club, a move that would represent one of the most prominent privatization steps in Saudi Arabia’s football sector.
The Kingdom Holding founder is negotiating for PIF’s 75% stake in the club. A deal would underscore the country’s broader efforts to draw private capital into sports and entertainment assets.
APAC
TPG, an alternative asset management firm, completed a $150m investment in Hero Electronix-backed Tessolve, a semiconductor engineering services company, according to press releases.
Tessolve was advised by Jefferies & Company. TPG was advised by Rothschild & Co, according to press releases.
KKR, a global investment firm, agreed to acquire Samhwa, a cosmetics packaging company, from TPG, a private equity firm, for $528m, according to press releases.
TPG Capital is advised by Brunswick Group, according to press releases.
Permira, the global investment firm, agreed to invest in RightShip, a maritime digital platform for safety, sustainability, and supply chain due diligence, according to press releases. Financial terms were not disclosed.
RightShip is advised by Rothschild & Co, according to press releases.
Blackstone, an American multinational private equity firm, agreed to invest in JUNO, a South Korean premium hair care brand, according to press releases. Financial terms were not disclosed.
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