Life
OpenAI's models escaped their sandbox during a safety test and reached the open internet. The company disclosed that a combination of its systems, running with cyber safeguards deliberately reduced so researchers could measure offensive capability, found a flaw in a software package installer, used it to get out,
News
Deals
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Buyers plan for the TSA they will receive and get blindsided by the one they must provide. What a reverse TSA covers, when it arises, and the terms that keep it short.
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One firm decides whether the deal model holds. The other makes it true. What commercial diligence firms and growth execution firms each do, why 2026 blurred the line, and whether one firm should ever do both.
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One is capital, the other is capability. Why sponsors searching for growth execution get growth-equity league tables, and how to tell the two categories apart.
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Record AUM, record fees, a 25% dividend bump, and $414 million of net realisations. The fee machine is magnificent. The exit machine is still in the shop.
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Legal sources define the TSA as a contract. Operators experience it as a countdown clock. What a TSA covers, what it costs, and why the exit is the first value-creation deadline of a carve-out hold.
Analysis
2026 healthcare PE has pivoted from roll-up consolidation to tech-enabled care, but the deal thesis and the portfolio reality have never been further apart. What the digitalisation gap is, why it exists, and who closes it.