Private Equity Can’t Sell Its Assets, So Bankers Are Designing Funds That Never Have To
The fixed lifespan is what forces managers to return cash. Evergreen vehicles remove it.
A Stablecoin Issuer Just Helped Fund an AI Chip Startup at $6.2 Billion, Double Its 2024 Mark
Private AI silicon is being marked up in the same month public AI infrastructure was marked down hard.
Blackstone Raised $8.7 Billion for Energy Transition and Bought a Data Centre Cooling Business With It
The fund excludes oil companies and backs gas utility infrastructure. The thesis is electricity demand, not decarbonisation.
Silgan Is Buying a $3.4 Billion Business, Keeping 60% of It and Collecting $2.3 Billion in Cash
A company worth $4.2 billion structured an acquisition that reduces its own leverage. The shares rose 6%.
Aegis Is Buying Gulf Fuel Logistics for $809 Million and Arranging the Money Afterwards, Which Is the Comfortable Way Round
Half debt, half equity, raised after an 87% share price run, with completion not due until March.
Half of This $1.8 Billion AI Listing Is Already Committed, Which Is What Firmus Didn’t Have
Hong Kong is heading for a record year on AI supply chain deals while Western infrastructure IPOs fail.
JPMorgan Says It Deployed $230 Billion for US Economic Security. About a Third of It Is Genuinely New
Dimon calls the programme 100% commercial, which is the part worth taking seriously.
Heat Affects 81% of Global Index Companies and Only About a Third Are Doing Anything Operational About It
MSCI puts labour productivity losses at $3.9 trillion a year. The wider estimates are much larger and much less certain.
Tesla Says the Roadster Is the Last Car It Will Build for a Human Driver
CNBC says the vehicle itself is immaterial. The merger speculation it fuels is not.
Goldman’s Desk Says AI Credit Spreads Are at Yearly Wides, and Last Time They Were Here Equities Were 15% Lower
Anthropic grew revenue 45% in a quarter and investors read it as a warning. That tells you what was priced...
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