Markets 8-Hour Briefing
×Public Markets
Market Moves
The S&P 500 dropped 1.2% in its worst week since June, marking its first two-week loss since June. Entrata is working with Goldman Sachs and JPMorgan on an IPO, though its drive for subscribers means slower earnings growth. Paramount Skydance is positioning its $111 billion Warner Bros. deal with an unusual mix of investment-grade and junk-rated debt. Zscaler Founder Jay Chaudhry sees AI as an opportunity, not a threat, despite mixed earnings results. Duolingo faces pressure to double daily active users to 100 million by 2028, accepting slower growth for subscriber gains.
Deals & Corporate Action
Francisco Partners completed a $2.2 billion take-private of Jamf, expanding its portfolio. Blackstone is positioning Liftoff Mobile for an IPO, while Compass partnered with Rocket Companies to expand Redfin visibility. SpaceX is targeting a confidential IPO filing as soon as next month, aiming to compete with tech giants dominating Hollywood. Apple announced a $200 billion share buyback, though its growth trajectory faces scrutiny.
Macro & Policy
The FAA is looking to cut flights at Chicago’s O’Hare International Airport, where United and American Airlines are currently battling for supremacy. Ecuador is eyeing a $4 billion bond sale return. Japan may intervene to buy yen amid speculation, while Wall Street posted its worst month since March amid geopolitics, trade, and AI fears. S&P Analyst sees Paramount’s credit rating strained after the Warner deal, even if debt can be cut later.
Private Equity
Leadership Shifts
Sverica promoted Michael Dougherty to partner and Doug Patrican to principal. The firm also hired Matt Johnson as a principal.
Sector Investment
Real Estate Investment
La Caisse appointed a new real estate asset management lead in Europe. The executive joins from Legal & General where he oversaw the UK asset manager's transaction activity in the region.