News (w/e 11/07/25)
CapitalSpring Closes Initial $505 Million Toward $1 B Target for Fund VII
CapitalSpring, the Nashville shop that bankrolls franchise and multi-unit consumer businesses, just hit $505 million on the first close of its new $1 billion fund. Every dollar came from existing LPs—most upsized. That’s loyalty, or at least proof that niche specialization still sells when generalists are starving. CapitalSpring sits squarely in the $10–150 million deal pocket—structured capital, mezz, control—mostly in restaurants and multi-location consumer chains. The fundraise says more about LP behavior than the GP: if you know your lane, stay in it. The money’s still there for focused, repeatable cash-flow machines. Link
Kingswood Capital Gets Minority GP Investment from Bonaccord Capital Partners
Los Angeles-based Kingswood Capital took a passive minority stake investment from Bonaccord Capital Partners, one of the newer GP-stakes players. Terms weren’t disclosed. Kingswood’s built a name doing scrappy operational turnarounds—think Drive DeVilbiss Healthcare and similar mid-market grinds. Bonaccord’s check isn’t a bailout; it’s growth fuel. GP-stakes deals like this are becoming the middle-market version of selling a mezzanine on your own management company: raise non-dilutive capital, professionalize ops, maybe even pre-fund carry. Smart play if you plan to scale when everyone else is downsizing. Link
Blue Owl GP-Stakes Platform Delivers $5.5 B to LPs
Blue Owl’s GP-stakes platform has now distributed over $5.5 billion to its LPs—proof that selling minority stakes in other private-equity firms is no longer a novelty; it’s an asset class. The irony: mid-market GPs, squeezed on fundraising, are suddenly the new product. LPs can’t exit portfolio companies, so they’re trading exposure to the managers instead. Blue Owl’s haul confirms what everyone in Park Avenue boardrooms already knows—cash flow from management fees beats waiting for an exit multiple. Link
Arlington Capital Partners Closes $6 B Fund VII for Defense, Gov Services, and Healthcare
Arlington Capital, a Washington DC-based mid-market specialist, just closed its largest fund yet—$6 billion—focused on defense, government services, and healthcare. That’s nearly double its prior vintage. Arlington’s playbook is clear: own the picks and shovels of the military-industrial complex while the world re-arms and reshuffles supply chains. LPs love the clarity—predictable demand, sticky contracts, limited cyclicality. It’s a reminder that in this market, specialization plus government adjacency beats growth theater every time. Link
Deloitte Survey: 86% of PE and Corporate Dealmakers Now Use Generative AI
Deloitte dropped a survey showing 86% of corporate and PE leaders already use GenAI in their deal process—mostly in target screening and due diligence. Translation: the robots are now analysts. It’s less sci-fi than survival; deal teams are buried under data and need efficiency more than inspiration. Expect AI to become the new operating partner—cheap, tireless, and increasingly accurate. The firms that integrate it fastest will get to good decisions before everyone else even finishes cleaning up CIM PDFs. Link