UK-based private equity professionals received a record £5.4bn in carried interest and other profit-related payments during the 2024-25 tax year, a 50% increase on the previous year, as managers moved to crystallise gains ahead of increases to the carried interest tax rate, according to a report by Bloomberg.
Blackstone’s flagship private credit vehicle is maintaining its 5% quarterly redemption limit after investors sought to withdraw around 10% of the fund during Q3, highlighting continued liquidity pressure across the non-traded private credit market, according to a report by Reuters.
The Benetton family has secured regulatory approval to launch a new European private markets platform, 21 Next, with approximately €3bn in assets under management, according to a report by Bloomberg.
Alternative asset manager Arini has strengthened its private credit capabilities with the appointment of Ben Kunstler as head of hybrid capital, as the firm expands its private capital offering, according to a report by Alternative Credit Investor.
Thoma Bravo is exploring a potential sale of Foundation Software, a provider of software to the construction industry, in a process that could value the company at more than $2bn, according to a report by Reuters.
TPG-backed healthcare provider Asia OneHealthcare has confidentially filed for a potential initial public offering in Malaysia that could raise as much as MYR10bn ($2.5bn), according to a report by Bloomberg.
Thoma Bravo-owned Proofpoint is in discussions to acquire cybersecurity software provider Varonis Systems, according to a report by Reuters citing an unnamed person familiar with the matter.
US private credit portfolios showed some signs of stabilisation in the second quarter, but lenders continued to reduce valuations on selected loans, particularly in the software sector, while the amount of debt no longer generating income increased, according to a report by Reuters.
KKR has agreed to acquire A1 Garage Door Service, a US provider of residential garage door repair and replacement services, in a transaction valued at around $2bn, according to a report by Reuters citing unnamed people familiar with the deal.
Australian asset manager IFM Investors is planning a major expansion into Asian private credit markets, with the firm targeting the deployment of up to half of a roughly $1bn open-ended fund across the region, according to a report by Bloomberg.
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