Deals
Carlyle acquires majority stake in MAI Capital Management for $2.8bn. Cleveland-based RIA, $72.6bn in assets, built from $9.2bn since Carlyle's initial investment through Galway Holdings in 2021. Harvest Partners and Oak Hill exit. Carlyle converts a minority position into full control. CEO rolling 100%
Deals
Apollo acquires Nippon Sheet Glass for $3.7bn. Apollo's largest PE investment in Japan, and less of a buyout than a financial rescue. NSG has been drowning in debt since it bought Pilkington for £2.2bn in 2006. Apollo is injecting $1bn in fresh equity, lenders are swapping
Deals
Lone Star acquires Lonza's capsules and health ingredients division, ~$3bn. A clean carve-out from the Swiss life sciences group. Capsules, health ingredients, vertically integrated manufacturing.....exactly the kind of asset that PE loves: defensible, recurring, and boring enough to avoid disruption risk. PE WIRE
Deals
GIP and EQT take AES Corp private. $33.4bn enterprise value. BlackRock's infrastructure arm and EQT, backed by CalPERS and Qatar, are acquiring the Fortune 500 utility and clean energy producer at $15 per share. The deal is 100% equity-funded, which is unusual at this scale, and
Deals
BlackRock GIP and EQT Target Clean Energy Assets from AES BlackRock’s Global Infrastructure Partners and EQT are circling clean energy assets tied to AES at a moment when renewable valuations have reset hard. After the 2025 drop off, private equity is not retreating. It is re underwriting. The math
Deals
Ariel Alternatives Acquires Front Line Power Construction Ariel Alternatives has acquired Front Line Power Construction, with Cherokee Nation Businesses joining as a minority co-investor. Power grid infrastructure is no longer theoretical. It’s cables, substations, and hard backlog tied to AI data centers and electrification mandates. This isn’t
Deals
Mubadala and TWG Take Clear Channel Outdoor Private in $6.2 Billion Deal Clear Channel Outdoor is being taken private in a $6.2 billion all-cash deal led by Mubadala Capital in partnership with TWG Global. Announced February 9, this is one of the largest leveraged buyouts of the
Deals
None of the following are announced deals. These are themes repeatedly showing up in recent reporting, earnings commentary, banker conversations, and capital-markets behavior. PE Circling Honeywell’s Carve-Out Pipeline There’s increasing chatter around Honeywell as it continues to rationalize its portfolio, with large-cap sponsors like Advent
Deals
Highlander Partners Acquires Tapatio Hot Sauce Highlander Partners acquired the Tapatio hot sauce brand from the founding family in a deal announced this past week. Price wasn’t disclosed, but the logic is pure consumer PE: a cult brand with absurd household penetration, decades of unspent brand equity, and zero
Deals
Dallas-based private equity firm Highlander Partners acquired the Tapatio hot sauce brand a top-5 U.S. condiment with a cult following, from its founding family. The purchase price wasn’t publicly disclosed, but the strategic logic is clear: consumer food brands with deep loyalty and retail shelf presence
Deals
GI Partners Agrees to Acquire Netwatch GI Partners announced this week that it has agreed to acquire Netwatch, the AI-enabled security monitoring business. Netwatch sells into retail, logistics, and commercial real estate—places where theft, liability, and insurance premiums make “doing nothing” the expensive option. This is private equity
Deals
Veritas Capital Buys Majority Stake in Global Healthcare ExchangeVeritas Capital is acquiring a majority stake in Global Healthcare Exchange (GHX), the healthcare supply-chain software platform used by hospitals and suppliers across the U.S. GHX sits in the unglamorous but essential plumbing of healthcare, where scale and data matter