Trump arrives in Beijing with Schwarzman, Fink, Solomon, and Fraser. The first US presidential visit to China in nine years. Seventeen CEOs. Discussions covering tariffs, rare earths, AI supply chains, the Iran war, and bilateral investment frameworks. The November 2025 tariff agreement expires in November 2026. When the heads of Blackstone, BlackRock, Goldman, and Citi all board the same plane, the conversation has moved well past soybeans. CNBC
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.
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.
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.
Fee-generating assets rose €40bn in the quarter. Strip out the Coller acquisition and the gain is about €6bn.
