Presented by:
Hello {{first_name|friends}}, Tuesday brought a wave of capital deployment announcements across the PE landscape, so strap in.
Mubadala Capital and TWG Global are taking Clear Channel Outdoor private in a $6.2 billion take-private, while Ares arranged a $2.4 billion debt facility for Vantage Data Centers. General Atlantic is taking European Wax Center private, Carlyle made a strategic majority investment in India's Edelweiss Housing, and Lone Star closed its $3.8 billion acquisition of Hillenbrand.
On the financing side, Stoke Space extended its Series D to $860 million, Coller Capital led a $1.3 billion private credit continuation vehicle with Ares, and Golub Capital expanded its BSL CLO business to Europe.
Platform building was active too—Trinity Hunt launched workforce services platform Allvia, Agellus Capital added Crux Consulting to its fire & life safety platform, and Kingswood Capital acquired Coveris' paper unit, rebranding it Paragon Print and Packaging.
Let's break down these and more.
Mubadala Capital +TWG Global
Clear Channel Outdoor
Mubadala Capital, in partnership with TWG Global, agreed to acquire Clear Channel Outdoor in an all-cash transaction valuing the company at $6.2 billion enterprise value.
Shareholders will receive $2.43 per share, representing a 71% premium to the unaffected share price. The deal brings approximately $3 billion of equity capital to the U.S. out-of-home advertising leader. Wade Davis, a media and technology veteran, is expected to join as Executive Chairman.
Apollo-managed funds committed preferred equity, while JPMorgan and Apollo provided debt financing. The transaction is expected to close by the end of Q3 2026.1
Ares
Vantage Data Centers
Ares arranged a $2.4 billion debt facility to Vantage Data Centers, a leading global provider of hyperscale data center campuses.
Ares holds approximately $1.6 billion of the commitment and funded approximately $330 million at closing. The facility will refinance existing debt and support development, construction, and operation of data centers across Vantage's North America portfolio. The portfolio spans 17 campuses with 4 GW+ of IT load capacity, 100% leased under long-term agreements with leading hyperscale customers.2
Carlyle
Edelweiss Housing
Carlyle became a strategic majority investor in Edelweiss Housing, a leading Indian housing finance company, positioning the firm to support Edelweiss' growth in India's expanding housing finance market.3
General Atlantic
European Wax Center
General Atlantic agreed to take European Wax Center private in an all-cash transaction with an implied equity value of approximately $330 million.
Stockholders will receive $5.80 per share, representing a 45% premium to the prior day's closing price. General Atlantic has been a strategic partner since 2018 and currently owns approximately 42% of the company. The transaction is expected to close mid-2026.4
Stoke Space
Washington Harbour
Stoke Space Technologies extended its previously announced Series D financing to $860 million, with Washington Harbour participating in the extension. The company is developing reusable rocket technology for space launch services.5
Coller Capital
Ares
Coller Capital led a private credit continuation vehicle for Ares U.S. Direct Lending's 2018-vintage fund with more than $1.3 billion in total commitments. The continuation vehicle comprises a diversified portfolio of first-lien, floating-rate loans to U.S. middle-market companies backed by leading private equity sponsors.6
ARA Partners
Liberty Mutual
Liberty Mutual Investments and ARA Partners formed a strategic partnership. LMI will support ARA Partners' Energy and Infrastructure investment platforms, collaborating on existing and future investments including JET (fuel retail network in Germany and Austria), Centric Fiber, natural-gas-fired power assets in the Northeast U.S., ethanol production facilities, and an anchor investment in Ara Energy Fund I.7
Gladstone Investment Corporation announced a notes offering due 2031, with proceeds intended to repay a portion of its revolving credit facility, fund new investment opportunities, and support general corporate purposes.8
Potentia Renewables
Potentia Renewables closed financing for the Skyview 2 Battery Energy Storage System in Ontario, a 411 MW project representing the largest battery energy storage project in Canada. KfW IPEX-Bank and Desjardins Group provided approximately C$542 million in construction and long-term operational financing.9
Fortress
Fortress Investment Group led a $96 million whole loan for Jasper, a newly developed 296-unit Class A multifamily community in Downtown Los Angeles.10
Gauge Capital
Gauge Capital announced a strategic growth investment in Affordable American Insurance (AAI), a provider of insurance solutions.11
From our Sponsor:
ChatGPT chokes when large, complex datasets are on the line. Brightwave doesn't.
Their autonomous research agents surface patterns competitors miss, flag critical risks automatically, and deliver share-ready deliverables on-demand across preliminary research, due diligence, and ongoing monitoring.
Investors, from top-5 PE megafunds to boutique firms, are seeing research-intensive workflows, like CIM review, IC memo creation, and contract review, reduced from hours to minutes.
This is AI built for professionals who need to understand the world's most complex problems. Try it right now for free.
Lone Star - Completed its acquisition of Hillenbrand, a leading provider of highly-engineered, mission-critical processing equipment and solutions, in an all-cash transaction with a total enterprise value of approximately $3.8 billion.
KPS Capital - Signed a definitive agreement to acquire The Wells Companies, a leading designer, manufacturer, and installer of above-grade architectural and structural precast concrete solutions in the United States. Wells operates 13 manufacturing facilities and employs approximately 2,700 people. The transaction is expected to close in Q1 2026.
Kingswood Capital - Entered into a definitive agreement to acquire Business Unit Paper from Coveris, rebranding it Paragon Print and Packaging. Paragon produces sustainable paper-based packaging solutions including self-adhesive and linerless labels, lined board, cartons, and trays.
CapVest - Entered exclusive discussions with HLD on the proposed acquisition of a majority stake in TSG, a European leader in technical services for critical energy infrastructure. TSG operates in over 30 countries with over 7,000 employees and annual revenues exceeding €1.4 billion. HLD and management will retain significant minority stakes.
Trinity Hunt - Trinity Hunt launched Allvia, a workforce services platform, through its investment in Melita Group, a human resources, benefits administration, and payroll provider headquartered in San Jose, California.
Agellus Capital - Agellus completed the acquisition of Crux Consulting, an Omaha-based fire & life safety design, engineering, and consulting provider. Crux will join Bluejack Fire & Life Safety and be combined with Orcus Fire & Risk to operate under the Orcus Fire & Risk brand.
Bertram Capital - Bertram joined the ownership group of Querétaro F.C., a professional soccer club based in Querétaro, Mexico. The investment marks Bertram's fourth platform in its Ignite fund and represents the firm's first sports club investment.
Singletrack - Singletrack acquired Mediasterling, combining AI-first client engagement with expert content creation to transform how capital markets firms deliver advisory services. The acquisition builds on a partnership dating back to 2012.
Insight Partners - Portfolio company Tavily entered into a definitive agreement to be acquired by Nebius. Insight co-led Tavily's $20M Series A in August 2025.
Warburg Pincus – Sven Mulder will join portfolio company Infoniqa as CEO on May 1, 2026, taking over from Hans-Jürgen Wels. Mulder brings over 20 years of international tech leadership experience, most recently as Managing Director of SAP Germany.
Warburg Pincus – Ralph Haupter was appointed as a Senior Advisor. Haupter will partner with the European Technology Group, evaluating new investment opportunities across software and technology sectors.
TJC – Portfolio company Lindsay Precast named Charles Bozduman as CEO to support continued growth and expansion across critical infrastructure markets.
Apollo – Diego De Giorgi was named incoming Head of EMEA. De Giorgi brings more than 30 years of experience in the European financial services sector.
Bregal Sagemount – Will Breskman was promoted to Partner. Breskman joined the firm in 2017 and has played a central role in building and scaling the platform.
Hidden Harbor Capital Partners – SuperHero Fire Protection, a portfolio company, announced a planned leadership succession. Robert Blake-Ward was appointed CEO, bringing more than 20 years of leadership experience in the commercial services industry.
Golub Capital - Golub appointed Tyler Wallace as Managing Director, European Broadly Syndicated Loans. Wallace brings over 20 years of credit experience, most recently as Managing Director and Portfolio Manager of CLOs at Fair Oaks Capital in London.
|
Share Private Markets Minute Know a colleague who should be reading this? Send them your link.
Your referrals: {{rp_num_referrals}} |
That's the wrap. More deals coming your way tomorrow.
- Private Markets Minute Team