Markets 24-Hour Briefing
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Market Turmoil
Asian stocks plunged the most in nearly a year, led by the biggest South Korean crash since the global financial crisis in 2008, as mounting concerns over the Iran war triggered an exodus from some of the world's hottest markets. South Korean stock trading was temporarily halted as the KOSPI slid over 11%, with Samsung shares sliding further after reports of US chip production delays. The Taiwan dollar dropped to its weakest since May as stock outflows surged amid Middle East war fears.
Oil and Energy Crisis
Oil prices extended sharp gains as Middle East conflict widened, with Qatar shutting the world's largest LNG plant after drone attack and Saudi oil storage filling fast on Hormuz disruption. The Iran war is sending shock waves through the global aluminum industry, with manufacturers facing a spike in prices and traders expecting widespread suspensions of supply contracts. Coal prices rose as Iran conflict stoked fears of energy crisis, while Asian LNG prices surged to three-year peak over Iran conflict.
Currency and Bond Markets
The India rupee fell to a record low as oil rise sparked regional meltdown, while the Singapore dollar weakened amid broadening Middle East conflict. Indonesian central bank intervened to support the rupiah as Iran war hit emerging market assets. Municipal bonds saw their biggest decline since tariff-fueled selloff as geopolitical unrest roiled US Treasuries. European bond selloff deepened as traders boosted bets on ECB hike amid Middle East turmoil.
Tech and AI Sector
Nvidia backed another UK driverless startup in $103 million round, while MongoDB shares fell over 20% after weak forecast revived concerns. OpenAI is developing an alternative to GitHub, and Anthropic's Claude became the most popular free app on iPhone and Android amid fallout from Trump fight. PagerDuty CEO said the current environment requires flexibility from leadership and workers, noting that 98% of Pager Duty developers are using AI coding tools.
Corporate and M&A News
Raízen's owners abandoned talks to rescue struggling fuel producer after co-owners Cosan SA and Shell Plc failed to agree on a capital raise plan. Pat McGrath agreed to a deal to pull her cosmetics company out of bankruptcy but had to give up control. Ziff Davis will sell its connectivity division to Accenture for $1.2 billion, including Ookla's Speedtest and other brands.
Fed and Monetary Policy
Federal Reserve officials said US-Israeli attacks on Iran introduced another element of uncertainty for policymakers, with the most important question centering on how long energy prices remain elevated. Bond traders curbed rate cut bets as war stoked inflation worries, while JPMorgan named winner and loser sectors from Iran conflict. Goldman Sachs Chairman David Solomon said he's been surprised by the "benign" reaction in financial markets to Middle East conflict.
Emerging Markets and Global Trade
China factory activity contracted in February, while private gauge showed broad expansion. China's foreign minister told Israeli counterpart that attacks on Iran must end. China's abrupt yuan reversal revealed anxiety over war and oil shock, as Iranian conflict forces Chinese policymakers into abrupt shifts. Russia gets a chance to boost oil income as war disrupts Hormuz, with soaring prices and potential for renewed Indian buying boosting Kremlin's war chest.
Financial Services and Banking
Blackstone played down private-credit risks but was hit with outflows topping inflows by a record $1.7 billion in its $82 billion private-credit fund. Barclays Global Chairman of Research expects markets to be down for a bit amid Middle East tensions. Cantor Fitzgerald recommended buying shares of United Arab Emirates banks despite regional conflict, calling the stocks "low-risk, high-return" investments.
Private Equity
Mega-Deals & Exits
Blackstone consortium has submitted a non-binding $1.5 billion cash offer for UK aerospace supplier Senior Plc, joining a consortium to acquire the British components manufacturer. Separately, Thoma Bravo is acquiring logistics firm WWEX Group from a seller group that includes CVC Capital Partners and Providence Equity Partners. In a secondary sale, American Securities agreed to sell manufacturers CPM Holdings and MW Components to Rosebank Industries, with the deal expected to close in Q2 2026. An Arlington Capital-backed aerospace parts maker, FSG, was sold to JF Lehman, highlighting continued sector consolidation.
Sector Strategies: AI, Healthcare & Consumer
AI and data technology remains a key focus. Kohlberg-backed Riveron invested in Cuesta Partners, while Neuberger Berman led a $500 million Series E round for Nvidia-backed Ayar Labs at a $3.75 billion valuation. In healthcare, Jacmel-backed VTG acquired Vector Tech Group, an IT and cloud services firm. TPG invested $250 million in social care platform Findhelp through its Rise Fund. On the consolidation front, PE-backed 360training.com acquired assets of Canadian Food Safety Group, and Esperion, backed by PE, will buy biopharma firm Corstasis for $75 million upfront with potential milestone payments. Consumer-focused deals include TDR Capital-backed David Lloyd Leisure acquiring Aspria, and New State buying Vast Coworking Group in a carveout.
Fundraising & Continuation Funds
Major fundraising continues apace. Carlyle AlpInvest is seeking to raise $60 billion as part of a broader push to secure over $200 billion in capital inflows by 2028. Charterhouse Capital secured a €1 billion first close for its new European mid-market fund. On the secondaries front, Ares Management closed an $850 million continuation fund to hold Convergint Technologies amid a record $240 billion secondaries wave. The rising acceptance of continuation vehicles means time is right for new PE entrants, according to New Mountain’s Costello, who spoke at the NEXUS conference.
Operational & Platform Build-Outs
Private equity firms are adapting their playbooks for an AI-driven environment. Brookfield’s David Nowak emphasized that operational improvements at portfolio companies will be the defining factor for winners and losers. Several firms are building out platforms with new capital. Gryphon Investors backed HR tech firm HRSoft, where existing backer Bow River Capital retained a minority stake. Resurgens invested in vacation rental operations platform Breezeway to broaden its product and AI capabilities. LGPS co-invested with Vista Equity in Joblogic, a cloud-based software provider for contractors. In energy, BCI, Norges Bank and Brookfield jointly launched Northview Energy, an equally owned platform.
Special Situations & Geopolitical Shifts
Geopolitical tensions are influencing investment theses. VCs say the Iran war underscores the urgency for Europe to build its defense capabilities. In a separate public-private expansion, Capital Group and KKR launched their first equity strategy, building on their partnership. On the exits side, EBRD, Morphosis Capital and CEECAT exited Romanian retailer La Cocos to Schwarz Group. Meanwhile, a novel AI valuation mechanism is allowing some startups to manufacture unicorn status by selling the same equity at two different prices, according to Tech Crunch Venture.
Sector Investment
Real Estate Investment
ADIA maintains current fund investment levels for 2026 while ART increases allocations. LACERA has issued an RFP seeking real estate consultants for portfolio advice.
Infrastructure Markets
Sydney Network brought together infrastructure stakeholders for strategic talks. Amid US market uncertainty, some LPs are redirecting capital away from American markets toward alternative global destinations.