private equity

New On The Block OpenAI isn’t for sale. However, a $97.4 billion offer is hard to ignore. That’s the number Elon Musk asked fellow billionaire Mark Zuckerberg to help him reach to buy the parent company of ChatGPT. Neither Zuckerberg nor Meta Platforms, Inc. (NASDAQ:META) ultimately...

Imagine being Jerome Powell this week. On Friday, August 22, the Federal Reserve chairman will step onto the stage at the Jackson Hole Economic Policy Symposium — the most closely watched monetary retreat in the world — with markets, politicians, and even building contractors staring him down....

New On The Block Francisco Partners is reportedly testing the waters for a multibillion-dollar sale of BeyondTrust Software. This Georgia-based cybersecurity firm has about $500 million in annual recurring revenue and could command a price anywhere from five to 20 times sales. The sale process is...

New On The Block Performance Food Group (NYSE:PFGC) is typically the buyer in deal talks, having recently inked the $1.8 billion acquisition of Cheney Brothers, a move aimed at expanding its distribution reach. Recently, it’s been a target. US Foods (NYSE:USFD) made a takeover approach,...

New On The Block MEG Energy is officially on the auction block, and the oil sands drama is heating up like a rig in August. According to the Financial Post, the $6.8 billion company has set a Monday deadline for bids. Cenovus Energy is in the lead, despite still lugging around an immense amount of...

New On The Block Tylenol and Listerine maker Kenvue Inc. (NYSE:KVUE) just named board member Kirk Perry as interim CEO, replacing Thibaut Mongon, as part of a strategic review to boost shareholder value. The company, once a part of Johnson & Johnson (NYSE:JNJ) and now a top-five favorite in...

New On The Block Abry Partners hired JPMorgan Chase to find a buyer for physician social network Sermo, Axios reports. Bids are expected to be between $600 million and $800 million. Boston-based Abry first invested in Sermo in 2019. Verint Systems Inc. (NASDAQ:VRNT), a provider of call center...

Investment advisor and CEO of Gerber Kawasaki Wealth and Investment Management, Ross Gerber, has sharply criticized the new tax cut bill – One Big Beautiful Bill Act, which was passed by the House and awaits pending approval from the Senate. What Happened: In an X post, Gerber labeled it...

New On The Block Bahama Breeze may soon be gone with the wind. Darden Restaurants (NYSE:DRI) is considering selling the Caribbean-inspired chain or repurposing all its locations. The decision comes after Darden closed 15 Bahama Breeze restaurants in May, leaving just 28. Guru Focus reported that...

New On The Block Spanish La Liga club Getafe is considering a sale, per The Telegraph. On the buyside is Fenway Sports Group (FSG), the Boston-based firm led by billionaire John W. Henry. FSG already owns Liverpool FC, the Boston Red Sox and Pittsburgh Penguins. Ángel Torres, Getafe's current...

Sen. Elizabeth Warren (D-Mass.) has raised concerns about a major retirement plan provider’s intent to offer private equity and credit investments within 401(k) accounts. What Happened: In a letter obtained by Axios, Warren, the top Democrat on the Senate Banking Committee,...

Harvard and Yale Universities are offloading significant portions of their private equity (PE) holdings, a move that, despite occurring at a discount, highlights a booming secondary market where buyers employ a technique known as “NAV squeezing” for potentially massive returns, reported...

New On The Block Bankers say these biscuits are worth billions. The $1.5 billion asking price for Bojangles, the fried chicken and biscuit fast-food chain, is about triple what private equity firms Durational Capital Management and TJC paid in 2019—just four years after the chain went public....

New On The Block Byron Allen's Allen Media Group has hired Moelis & Company to explore a sale of its TV stations across 21 markets. The company spent over $1 billion acquiring Big Four network affiliates (ABC, NBC, CBS, FOX) over the past six years. It is now looking to cash out and reduce...

Thoma Bravo has raised $34.4 billion across three funds, marking one of the largest fundraising hauls in recent private equity history. What Happened: According to the Wall Street Journal, the investment giant secured $24.3 billion for its flagship buyout fund. The effort matches its 2022 total and...