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Carlyle and Bain Capital are competing to acquire Wealth Enhancement, a US wealth management platform overseeing nearly $160bn in client assets, in a deal that could value the business at approximately $7bn including debt, according to a report by the Financial Times.
Private investment major Blackstone and activist hedge fund Donerail are among the investment firms competing in the final round of bidding for US yacht retailer MarineMax, according to a report by Reuters citing unnamed people familiar with the matter.
Jonathan Bock has stepped down as co-chief executive of Blackstone’s flagship private credit fund, a move that leaves Brad Marshall as the vehicle’s sole chief executive, according to a report by Bloomberg.
Blackstone is planning to open an office in Dubai’s International Financial Centre as the US alternative investment firm seeks to expand its presence across the Gulf, according to a report by Reuters citing unnamed people familiar with the plans.
Bain Capital has agreed to acquire British vitamins and supplements company Vitabiotics, in a transaction that values the business at approximately £900m, according to a report by Bloomberg citing unnamed people familiar with the matter.
Fundraising by Asia-based private credit managers has fallen to its lowest level in more than a decade, as concerns over corporate defaults and high-profile bankruptcies prompt investors to favour larger, established US firms, according to a report by the Financial Times.
Los Angeles-based private equity firm LLCP has closed its fourth lower-middle-market fund – LLCP Lower Middle Market IV– at its $2bn hard cap after attracting commitments well above its original $1.7bn target.
GCM Grosvenor has secured $1.2bn for its first dedicated strategy focused on private credit secondaries, as growing demand for liquidity creates new opportunities in the expanding private credit market, according to a report by Bloomberg.
Blackstone’s assets under management climbed to $1.35tn in the second quarter as strong fundraising and gains from artificial intelligence-related investments helped the alternative asset manager outperform earnings expectations, according to a report by Reuters.
Cerberus Capital Management is relocating managing director Rahul Sangwan from London to Mumbai to lead its operations in India, as the alternative investment firm expands its focus on the country’s growing private credit market, according to a report by Bloomberg.
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