Good morning dealmakers, it's Obey Martin Manayiti here with the US edition of the Wire from the New York newsroom. GI Partners has closed a majority investment in Otodata, a provider of remote monitoring and vehicle tracking technology. Existing shareholders, including Renovo Capital and Otodata's management team, will retain a minority stake. Founded in 2010 and headquartered in Montreal, Otodata has an installed base of more than 3.5 million monitored tanks across North America, Europe, Latin America and the Middle East. The company also operates Tag Tracking, a provider of vehicle tracking and stolen-vehicle recovery services in Canada. "We see strong tailwinds in IoT from artificial intelligence, automation, and digitization," said Jerry Stapp, managing director at GI Partners.

Buyouts revisited its 2020 Women in PE list. A 2025 Columbia Business School Study found that out of 661 US private equity firms, only 5 percent were led by women. Michelle Noon, founder and managing partner of Clearhaven Partners, has raised about $1 billion over two funds and acquired sixteen companies. Ashley Evans left Carlyle Group to join Francisco Partners as a partner.

Regarding SBA proposals, I spoke with John Prairie, a partner at Mayer Brown, on how new rules proposed by the US Small Business Administration could impact private equity deal cycles.