Private Equity Bros Weekly

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📊 Weekly Summary

Here’s a recap of this week’s major news in finance and economics:

The Fed cut rates by 25 bps to 3.75%–4%, marking a second straight reduction as policymakers balance inflation risks and growth support. The S&P 500’s $17T rally fueled debate over valuations, while global M&A rose 10% year-to-date as sentiment improved and lower rates boosted dealmaking momentum.

Private credit faced renewed scrutiny after the First Brands collapse. HSBC warned of contagion risks even as lenders downplayed systemic threats. Nvidia hit a $5T market cap in a historic first, while Apple and Microsoft both reached $4T. Elsewhere, mining firms raised equity at the fastest pace since 2013, and hedge funds turned to antitrust tactics in distressed debt deals.

Let’s dive in.

📈 Recent Finance News

Fed cut rates again by 25 bps to 3.75%-4%: The move marks a second straight cut as policymakers balance inflation risks and growth support (CNBC)

S&P 500’s $17T rally sparks debate over staying long: Investors weigh record valuations against optimism for Fed easing and tech strength (FP)

Private credit defends itself after First Brands collapse: Major lenders dismiss talk of systemic risk and call criticism overblown (Inv.)

HSBC warns on contagion from private credit blow-ups: The bank flagged leverage and liquidity risks building in private markets (HW)

Global M&A rose 10% YTD through September: Improving sentiment and lower rates drive dealmaking momentum worldwide (BT)

Mining firms raise equity at fastest pace since 2013: Commodity producers seek capital to fund expansion amid high metals demand (Mitrade)

Nvidia reached a $5T market cap in historic first: The AI chipmaker cements its dominance as markets bet on next-gen computing (CNBC)

Saudi PIF shifts focus to logistics, minerals, and AI: Saudi Arabia plans to refocus $925 billion fund after giga-project delays (RT)

Apple and Microsoft hit $4T valuations: The two tech giants extend their lead as AI enthusiasm powers mega-cap growth (CNBC)

Hedge funds use antitrust laws in distressed debt fights: Firms test legal strategies to gain leverage in European restructurings (PYMNTS)

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🔍 Newly Released Reports

• Alternatives: Looking Beyond Traditional Investments (SC)

• Howard Marks Memo: A Look Under the Hood (Oaktree)

• Energy, Natural Resources & Chemicals Outlook (KPMG)

• Global Asset Allocation Viewpoints (T.RowePrice)

• The Strategic Value of Secondaries (Churchill)

• Capturing Value of Cross-Border Deals (BCG)

• The Brave New World of Dealmaking (BCG)

• Economic Outlook: Flying Blind (Moody’s)

• Value Creation in Private Equity (KPMG)

• CRE Market Review & Update (FT)

🤝 M&A Activity

Thermo Fisher acquires clinical trial data firm Clario (MTD)
Deal Value: $8.9B

Huntington Bancshares to merge with US Cadence Bank (YF)
Deal Value: $7.4B

Trian & General Catalyst bid to take Janus Henderson private (HW)
Deal Value: $7.2B

Banijay Group buys majority of German sports-betting firm Tipico (PEI)
Deal Value: $5.4B

Blackstone invests in Saudi AI company Humain with data center push (Blackstone)
Deal Value: $3B

Bending Spoons buys internet pioneer AOL from Apollo (Axios)
Deal Value: $1.5B

Microsoft takes 27% stake worth $135B in OpenAI amid restructuring (YF)
Deal Value: Undisclosed

Apple suppliers Skyworks and Qorvo merge to create $22B radio-chip giant (CNBC)
Deal Value: Undisclosed

Bain Capital takes minority stake in Canadian managed accounts provider (PEI)
Deal Value: Undisclosed

American Water Works buys Essential Utilities in $63B mega-merger (YF)
Deal Value: Undisclosed

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