The San Diego Padres are poised to change hands in a landmark $3.9bn transaction, with the Seidler family agreeing to sell the Major League Baseball franchise to José E Feliciano, co-founder of private investment firm Clearlake Capital, and his wife Kwanza Jones, according to a report by the Wall Street
AirAsia Aviation Group is testing investor appetite with a $230m private credit transaction arranged by Deutsche Bank, as the airline sector faces renewed pressure from rising fuel costs, according to a report by Bloomberg citing unnamed people familiar with the deal.
Flow Capital Partners plans to offer its $150m private credit fund on a Singapore-based blockchain platform, marking one of the first moves by an Asian asset manager into tokenised private credit, according to the firm.
TPG has invested $100m in Zum, valuing the US student transportation and mobility company at approximately $1.7 billion. The investment, through TPG’s Rise Funds impact investing platform, increases Zum’s total capital raised to around $430m, according to a report by Reuters.
US private equity firms KKR and Apollo Global Management are among several potential bidders exploring an acquisition of Portuguese packaging company Logoplaste, according to a report by Bloomberg citing unnamed people familiar with the matter.
European private investment major EQT is restarting the sale of its mainland China contact lens business Ginko International, targeting a valuation of at least $1bn, according to a report by Reuters citing unnamed people familiar with the matter.
Oaktree Capital is set to lose one of its most senior Asia-based credit executives, with Pedro Urquidi expected to depart in the coming months, according to a report by Bloomberg citing unnamed people familiar with the matter.
Intertek has rejected an unsolicited buyout proposal from Swedish private equity firm EQT, which valued the UK-listed testing and certification company at around £7.9bn ($10.74bn), saying the offer materially undervalued the business, according to a report by Reuters.
Private credit funds are facing increasing pressure as banks including JPMorgan Chase, Goldman Sachs and Barclays tighten leverage terms and more aggressively reassess collateral values, adding strain to a sector already dealing with investor withdrawals, according to a report by Bloomberg.
Goldman Sachs expects private credit to continue attracting capital over the long term, despite recent episodes of investor withdrawals and growing concerns around liquidity in the sector, according to a report by Bloomberg citing comments by the firm’s global head of alternatives for wealth Kristin Olson.
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