Private Equity 3d Briefing
×M&A Activity
BlackRock's GIP pe-insights.com and EQT are in advanced discussions to acquire US power producer AES in a deal valued at approximately $12.4 billion. Volkswagen pe-insights.com has received preliminary bids around €8 billion for its diesel engine unit Everllence, with Blackstone, CVC, and Brookfield among the contenders. Searchlight Capital pehub.com and Abry have agreed to take IoT company Kore private for $726 million, while Advent International pe-insights.com has finalised its acquisition of Southeast Europe’s tbi bank following regulatory approval.
Fundraising & Capital Markets
KKR’s FSK fund pe-insights.com reported an increase in troubled loans and lower fourth-quarter results, prompting a $400 million bond issuance by a Blackstone private credit fund pe-insights.com amid software sector volatility. Carlyle Group pe-insights.com set a $200 billion inflow target by 2028 as its turnaround strategy gains traction, and Arcmont Asset Management pe-insights.com secured $1.62 billion for its European private credit strategy. Meanwhile, FS KKR Capital Corporation pe-insights.com continues adapting its portfolio, with FT analysis highlighting how its filings reveal broader unravelling in buyout deals ft.com.
Firm Updates
Sverica Capital pehub.com promoted Michael Dougherty to partner and Doug Patrican to principal, also hiring Matt Johnson as a principal. DPI pehub.com named Sofiane Lahmar as its new CEO, while Astorg pehub.com saw its mid-cap co-head Edouard Pillot depart, leaving Lionel de Posson in sole control. Permira pehub.com appointed Giorgio Dinaro as head of its Milan office, succeeding Francesco Pascalizi.
Market Trends & Secondaries
Calpers pe-insights.com remains confident in its $1.8 trillion private credit exposure despite AI-driven software risks, even as Toyota pe-insights.com plans to unwind ¥3 trillion in cross-shareholdings. Insights from the NEXUS conference highlighted a "Goldman handful pehub.com" of secondary buyers and explored credit GP-led deal opportunities secondariesinvestor.com, with industry eyes on a 2026 blueprint involving increased LP selling secondariesinvestor.com. Clearlake Capital pehub.com noted that AI disruption has made software buyouts feel