Veritas won Bodycote by 25 pence, and the market wants a recount.
Two bids sat a penny apart for a month. Veritas found 25 more, and the shares now trade above the price that won.
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Every CEO exit is a sales lead with better stationery.
The most creative people in private equity are not operators.
Heidrick spent 22 years as the only publicly listed SHREK firm.
Every line below is said about you, in a room you are not in, by someone with the budget.
Partners Group can raise money faster than it can give it back
A record $16 billion raised, carry guidance cut to 20-25%, and gates on the funds clients most want out of. The fee machine is fine. The exit machine is guiding for 2027.
The Operating Partner Backlash Has Arrived, and It's Coming From Operators
The sharpest critique of the operating partner model is now coming from operators, on the record. What they are saying, why now, and how to tell a real model from a decorative one.
KKR's first core private equity bet just proved itself by ending.
Aon is paying $17 billion for USI, and KKR is calling the exit proof that its long-term holding vehicle compounds. Nine years, ninety acquisitions and two very different return numbers tell a slightly different story.
Who Actually Fixes Digital and Data in a PE Portfolio Company? (2026 Field Guide)
Six kinds of firm pitch for the same digital and data problem, at prices 20x apart. The field guide: what each tier does, the symptom that sends you there, and what it costs.
KKR explored a $10 billion exit. Apollo bought in, and KKR stayed.
Atlantic Aviation has more than doubled in value since 2021. The proof is a stake trade between two sponsors who both kept a seat.
Marketing Agency vs Embedded Operator: What a PE Portfolio Company Actually Needs
Two different purchases that get compared as if they were the same purchase. Written to the operating partner, not the CEO.
Why the Vocabulary Gap Is Getting Expensive
Get The Brochure If you read Not Very Private Equity, the language is already familiar. But following the language and running the room on it are two different skills, and many people in exactly these seats are still working off the first one. A founder gets a letter of intent
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Lifestyle (w/e 3/27/26)
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Lifestyle (w/e 2/19/26)
Vox on the rise of “admin nights” — friends hanging out while doing life chores (budgeting, emails, meal prep), i.e., the new nightlife for people with calendars and back-to-back calls. link Reuters on “sober raves” taking off with Gen Z — earlier nights, no hangovers, still a proper dance
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Lifestyle (w/e 2/13/26)
Vogue’s remix of Gainsborough portraits vs the runway is a tidy reminder that “quiet luxury” is just 300-year-old status signaling with better lighting. link Travel + Leisure says solo travel is surging (and the “trending” list is basically California + a few obvious staples), which is your permission slip
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Lifestyle (w/e 2/6/26)
Vogue’s “literary chic” is the rare trend that works for real life: sharp, grown-up, and quietly expensive without screaming about it. link Travel + Leisure pulled Tripadvisor’s Top 10 U.S. destinations for 2026 — a ready-made “where should we go?” list that doesn’t require a 40-
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Lifestyle (w/e 01/30/26)
Las Vegas quietly keeps winning the “midweek dinner that turns into a night out” category, Eater’s roundup of the latest openings is basically a cheat code for your next conference trip. link Edinburgh just got crowned the UK’s best nightlife city (based on Uber late-night data), which
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Digital Luxury Accessories Are Quietly Becoming the New Status Signal
A new rundown of high-end tech accessories highlights what’s replacing traditional “status buys”: premium headphones, elevated everyday carry, and wearables designed to integrate into work and travel, not shout for attention. Luxury is shifting from logo-centric to performance-centric. Link
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How “Unplugging” Became Luxury’s Most Valuable Currency
A growing slice of the wealthy are trading always-on connectivity for analog retreats, no-phone dinners, and even dumb phones, turning intentional disconnection into a new form of status. In a culture saturated with feeds, notifications, and AI everything, the real flex isn’t having access to every app,
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6 Luxury Goods Even the Wealthy Are Rethinking in 2025
Even high-net-worth buyers are shifting away from loud, traditional status symbols and redirecting spend to utility, privacy, and experiences, a reflection of how tech culture, minimalist design, and the “stealth wealth” aesthetic have redefined modern luxury. As pop culture moves from logo-flexes to lifestyle-flexes, the affluent