Private capital firms are losing ground to traditional investment banks as a surge in initial public offerings and mergers drives bank shares to record levels, marking a sharp reversal from the outperformance of alternative asset managers in recent years, according to a report by the Financial Times.

The UK government has held discussions with several leading private equity firms as it seeks to encourage more portfolio companies to list on the London Stock Exchange, amid continuing concerns over the decline in UK IPOs and the migration of listed businesses overseas, according to a report by the Financial Times.

Japanese private equity firm Advantage Partners is targeting investments in large domestic companies operating in strategically important sectors, seeking to capitalise on Japan’s growing emphasis on economic security and protection of critical technologies, according to a report by Bloomberg.

Goldman Sachs is marketing a new financing structure that would allow institutional investors to purchase capital call loans linked to their own private market funds, in a move that could reshape a growing segment of the fund finance market, according to a report by Bloomberg.

Law firm Jones Day has reached a settlement with private equity firm Centre Lane Partners over a lawsuit seeking $9.6m in allegedly unpaid legal fees, bringing the dispute to an end without the terms of the agreement being disclosed, according to a report by Reuters.

Private equity firms are placing greater emphasis on physical climate risk as increasingly severe weather events begin to influence investment performance, portfolio valuations and exit planning, according to a report by Bloomberg.

Private investment firm Arlington Capital Partners has launched Highwater, a global naval services platform focused on vessel preservation, repair and specialist sustainment services for US, Australian and allied fleets.