Victory Capital to acquire First Eagle Investments from Genstar Capital and First Eagle employees for $7bn.

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AMERICAS

FlightSafety International to acquire the commercial training solutions business of Acron Technologies.

FlightSafety International, a global aviation training company, agreed to acquire the commercial training solutions business of TJC-backed Acron Technologies, a mission-critical aerospace and defence technology platform, according to press releases. Financial terms were not disclosed.

FlightSafety International is advised by Baker McKenzie and APCO Worldwide. Acron Technologies is advised by Harris Williams & Co, RBC Capital Markets and Kirkland & Ellis, according to press releases.

Hidden Harbor Capital Partners completes the acquisition of Escape Fire Protection.

Hidden Harbor Capital Partners, a private equity firm, completed the acquisition of Escape Fire Protection, a provider of fire protection and life-safety services, according to press releases. Financial terms were not disclosed.

Hidden Harbor Capital Partners was advised by Configure Partners and McDermott Will & Schulte. Debt financing was provided by Monroe Capital. Escape Fire Protection was advised by Hennepin Partners and DeWitt, according to press releases.

Enbridge to acquire the crude oil gathering business of Salt Creek Midstream for $600m.

Enbridge, a North American energy infrastructure company, agreed to acquire the crude oil gathering business of Salt Creek Midstream, a midstream energy company, for $600m, according to press releases.

Enbridge is advised by RBC Capital Markets, Sidley Austin and Sullivan & Cromwell. Salt Creek Midstream is advised by Jefferies & Company, according to press releases and MergerLinks data.

Vanguard to acquire Altruist.

Vanguard, an investment management and advisory services company, agreed to acquire Altruist, an AI-forward wealth technology and custody platform serving financial advisors, according to press releases. Financial terms were not disclosed.

Vanguard is advised by Skadden Arps Slate Meagher & Flom (led by Todd Freed and Patrick Lewis), according to MergerLinks data.

Trident Management and Bluejay Capital-backed Priority Courier Experts completes the acquisition of Priority Dispatch and Diamond Expedited.

Trident Management and Bluejay Capital-backed Priority Courier Experts, a same-day and next-day B2B delivery provider, completed the acquisition of Priority Dispatch, and Diamond Expedited, the delivery and logistics providers, according to press releases. Financial terms were not disclosed.

Priority Courier Experts was advised by RAM Communications (led by Ron Marguklis), according to press releases.

Volato Group to merge with Alignment Engine at a $500m valuation.

Volato Group, an AI software company building operational systems for aviation businesses, agreed to merge with Alignment Engine, an AI infrastructure company, at a $500m valuation, according to press releases.

DAZN to acquire EverPass Media.

DAZN, a global sports entertainment platform, agreed to acquire EverPass Media, a US-based media and technology company that distributes live sports and entertainment content to commercial venues. The owners of EverPass, including RedBird Capital Partners, TKO Group Holdings and 32 Equity, will become minority shareholders in DAZN upon completion of the transaction, according to press releases. Financial terms were not disclosed.

IBM completes the acquisition of HRL Laboratories from Boeing and General Motors.

IBM, a global technology and software corporation, completed the acquisition of HRL Laboratories, a corporate research and development center specialising in physical and information sciences, microelectronics, and quantum technology, from Boeing, an aerospace company, and General Motors, a vehicle manufacturer, according to press releases. Financial terms were not disclosed.

Dick’s Sporting Goods bet big on sneakers with Foot Locker. (WSJ)

Dick’s Sporting Goods is facing pressure from its $2.4bn acquisition of Foot Locker, completed about a year ago, as weak consumer spending on footwear weighs on the acquired business.

The company lowered its annual profit outlook amid softer footwear demand, sending its shares down more than 30% in their largest decline on record.

Gunvor in talks to buy Haynesville shale assets for over $1bn. (Reuters)

Gunvor is in discussions to acquire US natural gas assets from Silver Hill Energy Partners for around $1.2bn–$1.5bn, expanding its exposure to the Haynesville shale basin in Texas and Louisiana.

The potential acquisition would strengthen Gunvor’s integrated US gas production and trading business as demand rises from AI data centers and LNG exports. Discussions remain at an early stage and may not result in a deal.

Oncoclinicas holder must make tender offer. (Bloomberg)

Brazil’s securities regulator CVM has ordered US asset manager Centaurus Capital to launch a tender offer for shares in cancer-care provider Oncoclinicas, overturning an earlier recommendation from its technical staff.

The decision relates to a 2024 restructuring involving investment vehicles linked to Centaurus and Goldman Sachs, escalating a long-running dispute among some of Oncoclinicas’ largest shareholders.

OpenAl data center executive Chris Malone departs the AI startup. (Bloomberg)

OpenAI data center executive Chris Malone has left the company after serving as head of data centers, where he helped oversee the artificial intelligence developer’s infrastructure buildout.

OpenAI confirmed that Malone is no longer with the company.

EMEA

Premius Capital completes the acquisition of Plantexpand from Foresight Group.

Premius Capital, a European private equity firm, completed the acquisition of Plantexpand, a UK-based provider of outsourced maintenance, compliance and asset management for commercial vehicle fleets and specialist plant equipment, from Foresight Group, a private equity investment manager, according to press releases. Financial terms were not disclosed.

Plantexpand and Foresight Group were advised by Crowe Global, Accuracy, Grant Thornton, Birketts and Influential (led by Chris Barry), according to press releases.

capSpire completes the acquisition of FinTark.

capSpire, a global technology consulting firm servicing the energy, commodities and capital markets sectors, completed the acquisition of FinTark, a specialist commodity trading and risk management consultancy, according to press releases. Financial terms were not disclosed.

capSpire was advised by McGuireWoods. FinTark was advised by Keystone Law, according to press releases.

Basware to acquire Trustpair.

Basware, a provider of cloud-based P2P and e-invoicing solutions, agreed to acquire Trustpair, a fintech company that provides automated payment fraud prevention and supplier account validation solutions, according to press releases. Financial terms were not disclosed.

Apollo, IFM and KKR said to be finalists in AB Ports stake sale. (Bloomberg)

Apollo Global Management, IFM Investors and KKR have advanced to the final round of bidding for a majority stake in Associated British Ports, the UK’s largest port operator.

Canada Pension Plan Investment Board and Omers are seeking to sell their combined 64% stake in a transaction that could value the business at around £10bn ($13.6bn).

Couche-Tard starts $8.7bn takeover bid for Poland's Żabka. (Bloomberg)

Alimentation Couche-Tard has formally launched a takeover bid for Żabka Group, offering PLN32 ($8.67) per share in a transaction valuing Poland’s largest convenience store chain at $8.7bn.

The proposed acquisition would be the second-largest retail M&A deal in 2026 and the largest-ever takeover of a Warsaw-listed company.

Princess of Wales's favourite handbag maker close to stake sale. (Sky News)

Scottish luxury handbag brand Strathberry is nearing a deal to sell a significant minority stake to private equity firm Soho Square at a valuation of close to £100m ($136m). The transaction could be completed in the coming weeks.

Existing investor BGF, which invested £8m ($10.9m) in 2021 when Strathberry was valued at around £32m ($43.6m), is expected to sell its stake as part of the deal.

Eni, BP aim for final investment decision on Egypt's gas discovery in a few months. (Reuters)

Eni is working with BP and Egyptian Petroleum Corporation toward a final investment decision on Egypt’s Denise West gas field within the next few months, following the offshore discovery announced in April 2026.

First gas could be produced in less than two years. Eni is also advancing the Cronos gas project in Cyprus, with production expected to be processed through Egypt’s Damietta LNG facility.

British fund management giants vie to run £1bn Scale-Up Fund. (Sky News)

M&G Investments and Schroders are among the firms competing to manage a new £1bn ($1.36bn) UK Scale Up Fund aimed at investing in promising British science and technology companies.

The government-backed vehicle will be funded by pension schemes including LPPI, Border To Coast, Railpen and Nest, with support from the British Business Bank. Other asset managers and early-stage investors have also applied to manage the fund.

APAC

Owner of Indonesian coal mining giant Bayan in talks on sale. (Bloomberg)

Billionaire Low Tuck Kwong is in discussions to sell a majority stake in Indonesian coal miner Bayan Resources to a consortium led by rival tycoon Haji Isam, in what could become one of Indonesia’s largest coal transactions. Bayan has a market value of about $28bn.

Low owns about 40% of Bayan, while his daughter holds a further 22%. Other potential buyers have also expressed interest, while discussions remain ongoing and may not result in a transaction.

BNP Paribas, KB Kookmin in talks for $2bn Vietnam Techcombank stake. (Reuters)

BNP Paribas and KB Kookmin Bank are separately exploring the acquisition of at least a 15% stake in Vietnam’s Techcombank, in a transaction that could be worth around $2bn. Techcombank is expected to select only one of the two potential strategic investors.

Valuation remains a key hurdle, with Techcombank seeking about two times book value. No formal agreement has been reached, with a potential transaction expected by the end of 2026 or during the first half of 2027.

Medicover India hospitals to be profitable in 18 months, eyes 20-25% margins. (Reuters)

KKR agreed earlier in August to acquire Medicover’s Indian hospital business for €1.2bn ($1.4bn), expanding its healthcare portfolio in India. The transaction remains subject to regulatory approvals.

Medicover plans to use proceeds from the deal to expand its existing facilities and increase operational bed capacity. The India business, which operates 25 hospitals with 6k beds, will also be renamed following completion.

Hong Kong tycoon Peter Woo looks to sell $1bn of PE stakes. (Bloomberg)

Peter Woo’s family office is exploring the sale of around $1bn of private equity fund stakes as it considers reducing parts of its investment portfolio.

The potential sale could include holdings in funds managed by HSG, formerly Sequoia Capital China, and Vista Equity Partners. The process remains at an early stage, and the final portfolio has not been determined.

Australia's FleetPartners gets $582m bid as Sumitomo-led group joins race. (Reuters)

FleetPartners has received an AUD813.1m ($582m) takeover offer from a consortium led by Sumitomo, becoming the fourth bidder for the Australian vehicle leasing company in less than a month. The consortium offered AUD3.85 ($2.75) per share in cash.

The proposal exceeds AUD3.80-per-share ($2.72) bids from ORIX and Element Fleet but remains below SG Fleet’s AUD4.00 ($2.86) offer. FleetPartners has granted the Sumitomo consortium limited due diligence access while continuing discussions with other bidders.

India's Tilaknagar open to another large deal after Imperial Blue buyout. (Reuters)

Tilaknagar Industries is open to pursuing another major acquisition following its nearly $500m purchase of the Imperial Blue whisky brand from Pernod Ricard, as consolidation accelerates across India’s spirits market.

The company is evaluating opportunities across spirits categories, with a particular focus on craft brands in the super-premium and luxury segments, while maintaining a disciplined approach to financing future deals.

China's Moonshot in talks with Microsoft, Amazon, Google over K3 revenue sharing. (Reuters)

Moonshot AI is in early discussions with Microsoft, Amazon and Google over revenue-sharing agreements that would allow the US cloud providers to host its Kimi K3 artificial intelligence model. The Chinese startup is seeking up to 30% of revenue generated from K3-related services.

The talks come as Moonshot prepares for a potential Hong Kong listing after raising more than $2bn in May 2026. Discussions remain preliminary, with revenue sharing, data access and usage auditing among the issues still being negotiated.

GIC-backed MioTech eyes IPO following merger with Moody's China unit. (DealStreetAsia)

MioTech is targeting an initial public offering around 2028 following its merger with Moody’s operations in China. The ESG analytics startup uses artificial intelligence to provide sustainability data, carbon tracking and related solutions.

The company is backed by investors including GIC, Moody’s, JP Morgan Asset Management and HSBC, with the merger representing a key step toward its planned public listing.

Gaja Alternative Asset hits $261m valuation on debut. (DealStreetAsia)

Gaja Alternative Asset reached a valuation of $261m in its market debut, becoming the first alternative asset management company to list in India.

The milestone follows the firm’s growth in private markets, supported by backing from global development finance institutions across its previous funds.

Bollywood-backed wedding fashion retailer to sell shares in IPO. (Bloomberg)

Purple Style Labs, operator of luxury fashion retailer Pernia’s Pop-Up Shop, is preparing to launch an initial public offering in India next week, seeking to capitalize on growing demand for wedding and occasion wear.

The Shah Rukh Khan and Salman Khan-backed company plans to raise up to INR6.8bn ($71.1m) through new shares priced at INR546–INR575 ($5.71-$6.02) each.

Granite Asia raises $500m for private credit fund. (Bloomberg)

Granite Asia has raised more than $500m for its Asia-focused private credit strategy, exceeding the initial capital committed when the fund launched in mid-2025.

The Libra Hybrid fund attracted investors including Temasek subsidiary Aranda Principal Strategies, DBS Private Bank, Khazanah Nasional and the Indonesia Investment Authority.

Australia's sovereign wealth fund CEO Raphael Arndt steps down. (Reuters)

Australia’s Future Fund has launched a global search for a new CEO after Raphael Arndt announced plans to step down at the end of 2026 following six years in the role and almost two decades at the sovereign wealth fund. Arndt plans to return to the private sector.

The Future Fund manages AUD356bn ($255bn) in assets and delivered a 14.8% return in the year ended June 30, above its government-mandated target of 8%.

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