Software-focused private equity major Thoma Bravo is closing in on a deal to acquire Itel, a GTCR-backed insurance technology provider specialising in property and casualty claims, in a transaction that could value the company at approximately $1.3bn including debt, according to a report by Bloomberg.

Carlyle Group is bolstering its Tokyo bench, lining up 10 additional investment professionals as deployment begins for the firm’s fifth Japan buyout fund, a JPY430bn (circa $3bn) vehicle that closed late last year, according to a report by Bloomberg.

Strathcona Resources, which is controlled by private equity firm Waterous Energy Fund, has tabled a CAD5.93bn ($4.25bn) cash-and-scrip offer for MEG Energy, targeting a merger of two of Canada’s largest pure-play thermal-oil-sands operators, according to a report by Reuters.

London-listed Primary Health Properties (PHP) has lobbied a sweetened offer for FTSE 250 healthcare REIT Assura, valuing the target at circa £1.68bn and eclipsing the agreed KKR/Stonepeak all-cash proposal, according to a report by Bloomberg.

Lotus Infrastructure Partners, a private equity firm focused on energy infrastructure, has agreed to sell a portfolio of seven natural gas generation assets to Vistra Corp in a $1.9bn deal, as the utility giant positions itself to meet ballooning US electricity demand, according to a report by Reuters.