Morgan Stanley expects default rates in direct lending markets to climb to around 8%, driven in part by mounting pressure on software companies from artificial intelligence disruption, according to a report by Bloomberg.
Vintage Stone Capital, a PE firm focused on the industrial, light manufacturing, and B2B services sectors, has appointed Kevin K Albert as senior partner and head of capital markets, as the firm looks to scale its industrial acquisition platform.
Global alternative asset manager ICG, which invests across structured capital, private equity secondaries, private debt, credit, and real assets, has appointed Luke Schlafly as Global Head of Insurance within its Client Solutions Group (CSG).
Ethos Capital, which takes majority and minority positions in middle market companies across North America and Europe, has named Marc Puglia as Partner and Chief Financial Officer, joining the firm’s Senior Executive Committee.
Warburg Pincus is exploring a potential sale of subprime auto lender Exeter Finance that could be valued at between $2.5bn and $3bn, according to a report by Bloomberg citing unnamed people familiar with the matter.
EQT is preparing a binding offer for the owners of Royal Challengers Bengaluru, potentially valuing the Indian Premier League team at around $2bn–$2.1bn, according to a report by NDTV Sports citing unnamed people familiar with the matter.
Blackford Capital has launched a new platform focused on HVAC, electrical, and diversified construction services, consolidating its recent acquisitions, Habco Partnership and Moro Corporation, to create a scalable, integrated service provider.
Perpetual Limited has agreed to sell its wealth management arm to Bain Capital in a deal valued at AUD500m ($350m) upfront, as apart of a to strategy streamline its operations and focus on its core businesses, according to a report by Reuters
Davidson Kempner Capital Management has warned that financial stress across the private capital industry is deeper than many on Wall Street recognise, with a “substantial portion” of private equity firms already under pressure, according to a report by the Financial Times.
Triton Partners has closed its sixth flagship mid-market fund (T6) at its fundraising target of €5.5bn, making it the firm’s largest fundraise to date, after securing capital commitments from new and existing investors globally.
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