S&P Global Market Intelligence offers our top picks of global private equity news stories and more published throughout the week.
A turbulent macroeconomic backdrop marked by trade tensions, war and the uncertain impact of AI is testing private equity investors, but it may also be an opportunity for some value-creation strategies to shine.
For Brookfield Asset Management Ltd.'s David Nowak, president of the firm's private equity group, value creation starts with targeting "misunderstood" businesses.
"It allows you to invest in value. And then we try to run them better," Nowak said in a conversation with S&P Global Market Intelligence on the sidelines of the recent SuperReturn North America conference in Miami.
Common operational improvement strategies employed by Brookfield at portfolio companies include digitalization, centralization of procurement and aligning production capacity with demand. Nowak said Brookfield is also putting less debt and more equity into its private equity investments, an approach that keeps more options open if a portfolio company needs help navigating an uncertain period for the global economy.
Read more of the Q&A with Brookfield's Nowak.
CHART OF THE WEEK: Evergreen fund launches peaked to 10-year high
⮞ The 123 evergreen private market funds recorded in 2025 represented the highest total in a decade, according to a Market Intelligence analysis of Preqin data.
⮞ Private debt and private equity evergreen funds accounted for more than half of the launches.
⮞ Evergreen fund structures make alternative assets more accessible to individual investors.
TOP DEALS
– An investor group led by Apollo Global Management Inc.-managed funds agreed to buy a 37% minority stake in Germany-based packaging technology company Syntegon Technology GmbH from CVC Capital Partners PLC. As part of the deal, CVC will continue to own its 63% majority shareholding in Syntegon.
– Funds managed by Apollo also agreed to acquire Japan-based glass manufacturer Nippon Sheet Glass Co. Ltd., with an enterprise value totaling about $3.7 billion. The transaction is expected to close around March 2027.
– Blackstone Inc., Aditya Birla Group, Bolt Ventures and The Times of India Group agreed to purchase Royal Challengers Sports Pvt. Ltd., the operator of the Royal Challengers Bengaluru cricket teams in the Indian Premier League and Women's Premier League, from United Spirits Ltd. The deal values the franchise at 166.6 billion Indian rupees. A&W Capital and Moelis were financial advisers to the buying consortium, with Khaitan & Co. serving as legal adviser. Citi India advised United Spirits as financial adviser, while AZB Partners was its legal adviser.
TOP FUNDRAISING
– Inflexion Private Equity Partners LLP is set to close Inflexion Buyout Fund VII with roughly €4.5 billion, Private Equity News reported, citing people familiar with the matter. The middle-market private equity firm sought to raise up to €4 billion for the fund.
– Lead Edge Capital Management LLC raised $3.5 billion at the close of Lead Edge Capital VII. The firm will target investments of between $50 million and $400 million in software, internet and technology-enabled businesses.
– Pictet Alternative Advisors SA held the final close for its first direct private equity fund, Pictet Private Equity Entrepreneur Capital I, securing €403 million. The fund's investor base includes foundations, pension funds, institutional family offices and entrepreneurs. The strategy targets investments in lower midmarket, as well as founder- and family-owned businesses in Germany, Austria, Switzerland and the UK.
– Hong Kong-based Gaw Capital Partners seeks to raise $400 million for its Gaw Tamkeen Nexus Fund, With Intelligence reported. The vehicle will invest in technology-enabled companies across the Gulf Cooperation Council countries.
MIDDLE-MARKET HIGHLIGHTS
– Diversis Capital LLC bought LTi Technology Solutions Inc., a software company for the equipment finance industry. KeyBanc Capital Markets was LTi Technology's financial adviser on the deal.
– A&M Capital added records management provider Contemporary Information Corp. to its portfolio. Contemporary Information will be combined with A&M portfolio company One Source Technology LLC, doing business as Asurint.
– Epiq Systems Inc. acquired business communications monitoring AI company LitLingo Technologies Inc. LitLingo was backed by LiveOak Ventures and Breyer Capital LLC.
FOCUS ON: STRIPES' LATEST GROWTH EQUITY FUND
Middle-market private equity firm Stripes LLC raised more than 70% of its $1.5 billion target for its Stripes VII LP growth equity fund, With Intelligence reported, citing sources.
The firm aims to invest $10 million to $150 million in minority or control stakes in consumer products businesses.
The fund's limited partner base includes Louisiana State Employees' Retirement System, Texas Permanent School Fund Corp., Boston Retirement System and Fresno County Employees' Retirement Association.
The vehicle's predecessor, Stripes VI LP, raised about $1.4 billion and has invested in companies including film studio A24 Films LLC and Medicare advisory Memoir Inc., according to With Intelligence data and media reports.
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For further private equity deals, read our latest "In Play" report, which looks at potential private equity-backed M&A, including rumored transactions, each week.
For private debt news, see our latest private debt newsletter issued twice per month.
With Intelligence is a part of S&P Global Market Intelligence.
