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AMERICAS

Argano completes the acquisition of GoSaaS.

Argano, a consultancy specializing in high-performance business operations, completed the acquisition of GoSaaS, an Oracle-focused consulting firm, according to press releases. Financial terms were not disclosed.

Argano was advised by Ernst & Young, Kirkland & Ellis, and Edelman (led by Jessica Resnick-Ault). GoSaaS was advised by Equiteq, Lincoln International, and Reed Smith, according to press releases.

Liberty Mutual Investments led the investment in Mission Critical Group.

Liberty Mutual Investments, the investment firm for Liberty Mutual Group, led the investment in Mission Critical Group, a provider of comprehensive electrical infrastructure solutions for mission critical facilities, with participation from Invesco Senior Secured Management, Aventail Capital Group and Brigade Capital Management, according to press releases.

Mission Critical Group was advised by Jefferies and Kirkland & Ellis. Jefferies was advised by Davis Polk & Wardwell. Liberty Mutual Investments was advised by BDO and Paul Hastings, according to press releases.

Cerity Partners to merge with Gilbert & Cook.

Cerity Partners, a wealth management and investment advisory firm, agreed to merge with Gilbert & Cook, a wealth management firm based in West Des Moines, Iowa, according to press releases. Financial terms were not disclosed.

Gilbert & Cook is advised by Houlihan Lokey and Sissel Law. Cerity Partners is advised by Lowenstein Sandler, according to press releases.

WT Realty Group to go public via a SPAC with FortuneX Acquisition Corporation in a $600m deal.

WT Realty Group, a Delaware corporation that operates and develops an integrated, technology-enabled real estate platform, to go public via a SPAC with FortuneX Acquisition Corporation, a special purpose acquisition company, in a $600m deal, according to press releases.

WT Realty Group is advised by Winston Taylor. FortuneX Acquisition Corporation is advised by Celine & Partners, according to press releases.

Kincell Bio completes the merger with Cellipont Bioservices.

Kincell Bio, a cell therapy development and manufacturing company, completed the merger with Cellipont Bioservices, a cell therapy CDMO, according to press releases. Financial terms were not disclosed.

Cellipont Bioservices was advised by William Blair & Co. Debt financing was provided by JP Morgan, according to press releases.

Thompson Street Capital Partners-backed Allyant completes the acquisition of Braille Works.

Thompson Street Capital Partners-backed Allyant, a provider of accessible document, digital, and alternative format print communications solutions, completed the acquisition of Braille Works, a provider of accessible alternative format communications, according to press releases. Financial terms were not disclosed.

Braille Works was advised by Hyde Park Capital, according to press releases.

Vitruvian Partners led a $200m Series C in Angle Health.

Vitruvian Partners, a European private equity firm, led a $200m Series C in Angle Health, an AI-native healthcare benefits platform, with participation from Town Hall Ventures, Blumberg Capital, Portage Ventures, PruVen Capital and Y Combinator, according to press releases.

Angle Health was advised by Command, according to press releases.

Atreides Management, Mubadala Capital and Valor Equity Partners led a $3.9bn Series F round in Crusoe.

Atreides Management, Mubadala Capital and Valor Equity Partners, investment firms, led a $3.9bn Series F round in Crusoe, a vertically-integrated AI infrastructure provider, with participation from Founders Fund, GIC, NVIDIA, Qatar Investment Authority (QIA), Radical Ventures, TPG, 1789 Capital, Activate Capital, Altimeter, ARK Invest, Avenir, Baillie Gifford, BAM Elevate, BDT & MSD Partners, Clal Insurance and Finance, Darsana, DPR Construction, Era Funds, Fidelity Management & Research Company, Fundrise, Galvanize, M37, OIA, Polychain Capital, Ribbit Capital, Robinhood Ventures Fund I (RVI), SemiAnalysis, Salesforce Ventures, Squarepoint Capital, StepStone Group, T. Rowe Price, Tiger Global, Upper90, Van Eck, XN and Zigg Capital, according to press releases.

Apollo weighs sale options for Energos. (Reuters)

Apollo Global Management is evaluating strategic options for Energos Infrastructure in a process that could value the floating LNG provider at over $3bn.

The firm has held discussions in recent weeks with potential bidders and has indicated it is open to a full or partial sale. XRG — the international investment arm of Abu Dhabi National Oil Company — is among those exploring a bid, with interest in acquiring up to 50% of Energos.

HighPeak Energy is weighing a sale process. (Reuters)

HighPeak Energy is exploring a sale after receiving inbound interest.

The Fort Worth–based Permian producer has hired Evercore and Texas Capital Securities to run the process and engage potential buyers.

Weil Gotshal weighs merger options as rainmakers exit the firm. (Bloomberg)

Weil Gotshal & Manges, facing a wave of senior departures, is weighing strategic paths for its future, including a possible merger with another firm.

Weil’s leadership has grown more receptive to exploring a combination and has held informal conversations to test interest from potential partners. The deliberations come as the firm works to stabilize its business following a series of high‑profile exits, including that of Michael Aiello, longtime head of its corporate practice and one of its most influential partners.

Amsted is said to be weighing a sale of cooling‑system unit BAC at a valuation of about $6bn. (Bloomberg)

Amsted Industries is exploring a sale of cooling‑system provider Baltimore Aircoil as rising demand for data‑center components prompts more owners to test the market.

The conglomerate has hired advisers to gauge acquisition interest in BAC, which could fetch more than $6bn.

Westinghouse targeting a valuation of more than $50bn in its US IPO. (Bloomberg)

Westinghouse Electric, a supplier of nuclear reactor technology, is seeking a valuation of more than $50bn in its planned US IPO.

The company — jointly owned by Brookfield Renewable Partners and Cameco — is aiming to file publicly as soon as October.

ECP‑backed ProEnergy is seeking a valuation of up to $50bn in its planned IPO. (Bloomberg)

ProEnergy, a power‑generation company backed by Energy Capital Partners, is seeking a valuation of up to $50bn in a planned US IPO.

The firm, which builds and tests gas turbines and small dispatchable power facilities, is working with Morgan Stanley and JPMorgan on the offering process.

Orion180 Insurance raised $240m after pricing its US IPO beneath the targeted range. (Reuters)

Orion180 Insurance raised $240m in its US IPO after pricing the deal below its targeted range, reflecting investor caution amid volatile market conditions.

The Melbourne, Florida‑based insurer sold 20m shares at $12 each, below the marketed $15–$17 range.

Nvidia‑backed data‑center developer Nscale files publicly for a US IPO. (Bloomberg)

Nscale, an AI data‑center developer backed by Nvidia and Microsoft, has filed for a New York IPO to help fund equipment needed to meet surging demand for computing power.

The London‑based company reported a net loss of $1.02bn on $141m in revenue for the six months ended June 30, compared with a $369m loss on $10m in revenue a year earlier.

Key executives overseeing Berkshire Hathaway’s $1tn business. (Reuters)

Warren Buffett stepped down as Berkshire Hathaway’s chairman on September 18, passing the role to his son Howard and marking the final stage of a leadership transition that began when Greg Abel became CEO earlier this year.

Investors will now be watching how the new team guides the $1tn‑plus conglomerate. A look at its core businesses follows.

EMEA

Amundi completes the acquisition of a 9.9% stake in ICG.

Amundi, a French asset management company, completed the acquisition of a 9.9% stake in ICG, an asset management and private equity firm, according to press releases. Financial terms were not disclosed.

ICG was advised by Deutsche Numis, Fenchurch Advisory Partners (led by Kunal Gandhi) and Latham & Watkins (led by Samuel Newhouse). Amundi was advised by Morgan Stanley, PJT Partners and Cleary Gottlieb Steen & Hamilton, according to MergerLinks data and press releases.

Winbond to acquire the NOR Flash and F-RAM business from Infineon for $1.12bn.

Winbond, a supplier of semiconductor memory solutions, agreed to acquire the NOR Flash and F-RAM business from Infineon, a semiconductor manufacturer, for $1.12bn, according to press releases.

Infineon is advised by JP Morgan and Morrison Foerster (led by Joseph Sulzbach), according to MergerLinks data and press releases.

Carlyle and CVC DIF to acquire a 90% stake in BauWatch from Haniel.

Carlyle, an infrastructure equity fund manager, and CVC DIF, an investment firm, agreed to acquire a 90% stake in BauWatch, a provider of advanced security solutions, from Haniel, a German family equity company, according to press releases. Financial terms were not disclosed.

Haniel is advised by Freshfields (led by Arend von Riegen and Carsten Bork), according to MergerLinks data.

France’s CNP Assurances weighs takeover offer for Coface. (Bloomberg)

CNP Assurances is weighing a possible bid for Coface.

The insurer, owned by state‑backed La Banque Postale, has been working on a potential offer for the credit‑insurance group.

Ares is said to be considering a minority investment in Danish infrastructure fund CIP. (Bloomberg)

Ares Management is exploring a minority investment in Copenhagen Infrastructure Partners, marking another potential move by a major private‑markets firm into the fast‑growing energy‑transition sector.

The Los Angeles‑based manager, one of the world’s largest private‑credit platforms, has been evaluating a deal in recent months.

Sovereign AI fund is said to be in talks to back drug‑discovery start‑up Potential Sciences. (Sky News)

The government’s £500m ($668m) Sovereign AI fund is close to taking a stake in drug‑discovery start‑up Potential Sciences.

Europe tech fund said to be in talks to back AI startup ElevenLabs. (Bloomberg)

Europe’s new technology fund is in discussions to back UK‑based AI startup ElevenLabs.

The €5bn ($4.3bn) Scaleup Europe Fund — managed by Swedish private‑equity firm EQT — has already begun deploying capital into privately held European tech companies since its launch earlier this year.

Spain is said to be open to an Italian takeover of olive‑oil producer Deoleo. (Bloomberg)

Spain is open to an Italian olive‑oil family taking control of Deoleo, marking a shift from its earlier preference for a domestic buyer.

Officials view the family behind Pietro Coricelli as the strongest contender for Deoleo. Deoleo’s private‑equity owners said last month they were weighing a sale of the world’s largest olive‑oil producer after years of weak profitability.

Blackstone said to prepare sale of Clarion Events’ Asian unit. (Bloomberg)

Blackstone is preparing to sell Clarion Events’ Asia operations as part of its effort to restart the broader divestment of the UK‑based events group.

The firm has tapped Goldman Sachs to advise on the potential sale, the people said, noting that the discussions are private.

Orban’s son‑in‑law sells bank stake amid Hungary’s graft crackdown. (Bloomberg)

Viktor Orban’s son‑in‑law is offloading most of his holding in a listed bank just as several businessmen linked to the former government are being targeted in corruption investigations.

Istvan Tiborcz’s BDPST Group has agreed to sell a 20.48% stake in Granit Bank. That follows last week’s announcement of a separate deal to divest another 9.9%. If both transactions close, Tiborcz will keep roughly 10% of the digital lender, which also owns local brokerage Equilor.

Momentum plans acquisitions to expand its South Africa adviser network. (Bloomberg)

Momentum Group is pursuing acquisitions as the South African investment and medical‑insurance company seeks to expand its adviser base and lift sales.

Chief Executive Officer Jeanette Marais said the firm is actively looking for targets that can accelerate the growth of its advisory network, noting that a larger force is essential to support expansion, particularly in its life‑insurance products.

Prudential exits Alexander Forbes as Motsepe’s ARC increases its stake. (Press Release)

A firm linked to billionaire Patrice Motsepe is consolidating control of Alexander Forbes through a deal that will see Prudential Financial exit its investment in South Africa’s largest standalone retirement‑fund administrator.

ARC AF Holdings, part of Motsepe’s African Rainbow Capital, said that two transactions will lift its stake in Alexander Forbes to 77.94%, up from 49.88%.

Immunology drugmaker Electra raises $350m in an upsized IPO. (Bloomberg)

Electra Therapeutics, a clinical‑stage developer of immunology treatments, raised $350m in an upsized US IPO priced at the midpoint of its marketed range.

The OrbiMed‑backed company sold 23.3m shares at $15 each. It had initially marketed 21.67m shares at $14 to $16 apiece, filings with the US Securities and Exchange Commission show.

Uzbek logistics firm Centrum taps Citi and JP Morgan for a planned London IPO. (Bloomberg)

Uzbekistan’s biggest private logistics operator is in discussions with Citigroup and JP Morgan about arranging a London IPO.

Centrum Holding could move ahead with the listing as early as next year.

Spanish copper manufacturer Cunext is said to be considering an IPO. (Bloomberg)

Spanish copper producer Cunext Copper Industries is weighing an initial public offering.

The company, which manufactures copper and aluminum power and data cables at sites in Spain and Italy, is bringing on advisers to evaluate a potential listing.

AI data‑center developer Lian Group eyes an IPO to raise $500m. (Bloomberg)

LIAN Group, a builder of AI and computing infrastructure, is weighing an initial public offering that could raise about $500m.

Managing partner Fiorenzo Manganiello said the Luxembourg‑based company is working with STJ Advisors as it begins selecting banks for a potential listing next year, with both Europe and the US under consideration.

Vue considers strategic paths, including a possible IPO. (Reuters)

Vue, one of Europe’s largest cinema operators, said it is reviewing strategic alternatives, which could include pursuing an IPO or selling the business, following a summer of exceptionally strong box‑office results.

The company is weighing a London listing, with early preparation work expected to begin before the end of 2026.

APAC

Advent International to acquire a 24.9% stake in Yatharth Hospitals for $329m.

Advent International, a private equity investor, agreed to acquire a 24.9% stake in Yatharth Hospitals, a healthcare provider, for $329m, according to press releases.

Advent is advised by Khaitan & Co (led by Aashutosh Sampat), according to MergerLinks data.

PE firms said to be weighing fresh bids for China Evergrande unit. (Bloomberg)

Private equity firms that previously examined Evergrande Property Services are weighing renewed bids for the Hong Kong‑listed real estate management company.

PAG, Warburg Pincus and Trustar Capital are among those preparing offers. Their return follows the collapse of exclusive negotiations between China Evergrande’s liquidators and Guangdong Provincial Tourism Holdings.

PSA is said to be weighing a sale of a stake in its Mumbai port operations. (Bloomberg)

PSA International is weighing a sale of a minority stake in its container terminal operations at Mumbai’s Jawaharlal Nehru Port.

The company has approached advisers about a potential transaction. PSA may seek a valuation of about $2bn including debt for the assets.

Solar firm Ningbo nears listing through Pakistan’s first SPAC deal. (Bloomberg)

Renewable energy firm Ningbo Green Light Energy plans to go public within weeks via a backdoor listing, marking Pakistan’s first transaction involving a blank‑check vehicle.

The company, which imports solar equipment for local renewable projects, is awaiting court approval for a reverse takeover of LSE SPAC‑I, Chief Executive Qasim Ningbo said. The SPAC, a unit of LSE Capital, raised INR250m ($900k) in an IPO this year and used the proceeds to acquire a 19% stake in Ningbo.

Owners of Indonesian ingredients producer Indesso are said to be weighing a $1bn sale. (Bloomberg)

PT Indesso Aroma’s founding Gunawan family and private equity firm EQT are weighing a sale of the business in a deal that could reach $1bn.

The Jakarta‑based ingredients and flavorings producer’s owners have hired a financial adviser and begun approaching potential investors.

AI startup Manus seeks to raise $500m and is weighing a Hong Kong IPO. (WSJ)

Artificial intelligence startup Manus is raising new capital after cutting ties with Meta and is exploring additional funding options, including a potential IPO.

The company is in talks with investors including IDG Capital and Boyu Capital to secure about $500m in a round that would value it at roughly $4bn.

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