Private Equity 3d Briefing
×Energy & Commodities
Oil futures dropped 1.3% sifted.eu in early Asian trade as OPEC+ signaled potential output increases, while gold held near $2,340 sifted.eu as a weakening dollar offset risk-on sentiment. A surge in aluminum prices pehub.com pushed China Hongqiao's Zhang Bo past the $48 billion mark, cementing his position among Asia's wealthiest industrialists. Meanwhile, U.S. airline bonds weakened 8% pe-insights.com after jet fuel costs spiked on Middle East supply fears, and Chicago's planned muni bond sale secondariesinvestor.com is testing investor appetite amid geopolitical uncertainty.
Fixed Income
Japanese government bonds extended gains techcrunch.com tracking overnight Treasury rallies as traders increasingly price in a September Fed rate cut. This technical move contrasts with the broader fixed income weakness seen in airline bonds, highlighting divergent market dynamics within the sector.
Private Equity
Founders Fund closed its latest $6 billion growth fund techcrunch.com, less than a year after its $4.6 billion third growth fund, targeting follow-on investments in its successful late-stage portfolio. Meanwhile, Monomoy agreed to buy Shell's Jiffy Lube for $1.3 billion pehub.com, expanding its core oil change offering into automotive maintenance services. Global Infrastructure Partners and EQT acquired AES Corp. for $10.7 billion pe-insights.com, a major all-cash transaction in the power sector. Additionally, Blackstone engaged Citigroup for a potential $1 billion sale of ShyaHsin Packaging pe-insights.com, signaling active divestment activity in industrial assets.
Secondaries & Infrastructure
Step Stone's Matthew Roche highlighted the importance of DPI structures secondariesinvestor.com in bridging slow exits, noting that DPI is IRR today, not the new IRR. Advent International explored a potential $4 billion sale of Ultra Maritime pe-insights.com, its naval defense business, while HIG-backed Coriant made its fourth acquisition with CVS pehub.com, merging Rainham, Zenith, and Tei into a unified industrial maintenance platform. Ambienta acquired Pieco, an industrial water treatment provider pehub.com, and Lone Star bought Lonza's Capsules and Health Ingredients division pehub.com for an undisclosed sum.
Markets & Deals
The Series B pipeline continued its upward trend news.crunchbase.com, moving steadily higher after a 2023 low and showing strength in the current year. Tencent considered fresh funding for the $110 billion Paramount-Warner Bros. deal pe-insights.com, backed by Red Bird, while GIC-backed Greenko weighed a potential $1 billion IPO pe-insights.com for its renewable developer. Altamon Capital Partners invested in Key Container pehub.com, a provider of specialty corrugated packaging, and FFL Partners formed Pioneer HOA pehub.com, a holding company for its homeowners association property management investments.