Apollo hired three managing directors. Carlyle supplied one of them.
Apollo hired three managing directors, one of them from Carlyle. Advent's head of tech strategy now works at the OpenAI venture Advent helped fund.
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Advent sold its last CCC shares at $7.79. GTCR will pay $7.75.
GTCR and Elliott are paying $7.75 a share for CCC. Advent sold its final stake last November at $7.79, down from a $10 SPAC-era price.
Thoma Bravo's Proofpoint pays 53 times free cash flow for Varonis
Proofpoint will pay $49.75 a share for Varonis, 52% above the June close. The multiple is 53 times free cash flow, and the first-half cash flow fell.
EQT's fee-generating assets rose €40bn in a quarter. Coller was €34bn.
Fee-generating assets rose €40bn in the quarter. Strip out the Coller acquisition and the gain is about €6bn.
Two buyout veterans have launched a national security private equity firm
Watch Point Capital has a one-page website and two founders from Madison Dearborn and Platinum Equity. Here is what we can say about the new defence-focused firm.
GP financing, explained. How managers borrow against fees and carry, and why it is so hard to find below $30m
GP financing is a loan or preferred instrument provided at the manager level, to the general partner, the management company or a sponsor affiliate, rather than to the fund. It is secured on what those entities and their owners actually hold, which means equity in the management company, the right
If I were running AI diligence on a PE portfolio right now, I would not ask "are you using AI?"
I would ask which level of the spectrum you are actually on. Because most portcos think they are a 4. They are a 2. And the gap between those two numbers is where the write-down lives. I have sat in enough board meetings where the CEO confidently describes their
If I were building a PE operating model from scratch, I wouldn't start with a value creation plan.
I'd start by killing the theatre. Most operating models are built backwards. There's an ops team that is really a reporting team. There's a "value creation" function that is one person, a recycled PowerPoint, and a heroic ability to say "cross-
“Show me the distributions” is a wonderfully efficient way to shorten an LP presentation.
Saves everyone forty slides on why the portfolio is performing magnificently despite the absence of any money. The valuations are robust. The assets are exceptional. The exit pipeline is encouraging. Lovely. The pensioners have asked whether they can spend the appendix. Private equity gets paid to be patient. Fair enough.
LP meetings have become theatre with better catering.
A lot of LP meetings are no longer really about communication. They are about stage management. The deck is polished. The messaging is tight. The bad news has been moved three clicks deeper into the appendix. The winners get a cinematic retelling. The problems get translated into phrases like timing,
PE conferences are broken. Their floor plans tell you quite a lot about the attitude behind them.
“Value creation” gets top billing on the main stage. Operating partners get a separate room, a different floor, sometimes an entirely separate event. The industry has managed to make the people responsible for delivering the investment thesis a fringe attraction. Quite an achievement. And giving operating partners their own conference
AE Industrial lost two partners in one week, both to operating seats.
AE Industrial lost two partners to company jobs. Everyone else was hiring operators. Senior moves at the 200 largest US PE firms, week to 13 October.
Life
Lifestyle (w/e 5/8/26)
Made-to-measure menswear is having a genuine moment. Brands like J.Mueser in New York and Carter Young in London are dressing Paul Mescal and George Daniel. The "buy less, buy better" crowd finally has enough options to make bespoke feel accessible rather than exclusive. INSIDEHOOK
Life
Lifestyle (w/e 5/1/26)
The bourbon glut is here and it is glorious. Overproduction from the 2010s PE-fuelled boom means five and six-year-old bottles are hitting shelves at prices that used to buy you a three-year-old. Distilleries are cutting production to rebalance, which means right now is the best
Life
Lifestyle (w/e 4/24/26)
The Plaud NotePin S clips to your lapel and transcribes meetings using AI. Press a button, record, get a summary and action items within minutes. No app switching, no laptop open, no pretending to take notes while checking your phone. BUSINESS TRAVELLER
Life
Lifestyle (w/e 4/17/26)
Smart rings are the wearable that doesn't make you look like you're auditioning for a sci-fi film. Health tracking, AI note-taking, AR glasses control.....all from something that looks like jewellery. GADGET FLOW
Life
Lifestyle (w/e 4/10/26)
Smart rings have quietly become the wearable category to watch. Health tracking, AI-powered note-taking, and hands-free control of AR glasses.....all from something that looks like a wedding band. The Pebble Index O1 and Even Realities R1 are leading the category, and the smart ring market is
Life
Lifestyle (w/e 4/3/26)
Tableside service is making a comeback across fine dining. The trolley, the guéridon, the carving cart.....restaurants are putting the theatre back into the meal and treating front-of-house staff as performers, not delivery mechanisms. MICHELIN GUIDE
Life
Lifestyle (w/e 3/27/26)
Menswear is officially done with slim fit. Spring 2026 is all about relaxed, unstructured suiting, wider lapels, and jackets worn over knit polos instead of dress shirts.....basically what Italian men have been doing for decades, now available at every price point from Zegna to Todd Snyder. CNN
Life
Lifestyle (w/e 3/13/26)
The Iran conflict pushed oil prices sharply higher this week, which is worth noting if you're a) invested in energy infrastructure or b) planning to drive anywhere this summer. GUARDIAN
Life
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
Life
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
Life
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-
Life
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