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📊 Weekly Summary

Hi there,

Here is a recap of this week’s highlights in global markets and finance:

Global M&A hit a record $1.3T in Q1, with 22 mega deals driving momentum as sponsors and strategics pushed ahead despite volatility. At the same time, PE-backed firms continued extracting value through $94B of dividend recaps, while IPO pipelines stayed active in pockets like India.

Bond traders shifted toward slower growth expectations as oil prices rose. Foreign central banks sold US Treasuries, and capital rotated unevenly across regions, with outflows from India and Taiwan ETFs. In private markets, PIK structures delayed defaults in private credit, while gold traders posted record profits and SpaceX IPO speculation lifted aerospace valuations.

Let’s dive in.

📈 Recent Finance News

Global M&A volume hit $1.3T in the best Q1 on record: Larger transactions and equity stakes kept activity humming despite volatility (FM)

A record 22 mega deals were agreed in Q1: Dealmaking rebounds as sponsors and strategics shake off caution to pursue large-scale transactions (OI)

Gold traders made a record $3.9B last year: Precious metal merchants cash in on historic price rally amid central bank buying and geopolitical demand (LP)

Foreign central banks sold US Treasuries after Iran tensions: Official outflows signal shifting reserve strategies and pressure on US funding markets (YF)

PE-backed firms borrowed $94B for dividend recaps last year: Sponsors continued extracting value despite tighter credit conditions (PEW)

Jamie Dimon says US must prioritize success in Iran: JPMorgan CEO argues geopolitical objectives trump short-term financial considerations (FB)

BlackRock weighs HSBC’s Canary Wharf tower for a new London HQ: The potential move shows continued demand for prime financial real estate (CAM)

Private credit delays reckoning with PIK concessions: These options help borrowers delay defaults, a sign of rising stress in the sector (RT)

India IPO filings defy stock downturn with near-record March: Pipeline remains robust despite broader market weakness as issuers rush to go public (TP)

Bond traders ditched inflation bets as oil surge threatens growth: Positioning shifted toward slower growth scenarios amid rising energy prices (YF)

SpaceX IPO buzz lifts aerospace shares on spillover bets: Public listing speculation around Elon Musk's rocket company boosts sector valuations (MSN)

India and Taiwan ETFs saw a record exodus last month: Investors pull capital from Asian markets amid shifting emerging market allocations (MSN)

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🤝 M&A Activity

McCormick agreed to buy Unilever’s foods business (BT)
Deal Value: $44.8B

Estée Lauder in talks to merge with Puig (YF)
Potential Deal Value: $40B+

US foodservice distribution firm Sysco acquires Jetro Restaurant Depot (YF)
Deal Value: $29.1B

Intel buys back stake in Ireland manufacturing plant from Apollo (TB)
Deal Value: $14.2B

Apollo nears acquisition of Atlantic Aviation from KKR (Inv.)
Potential Deal Value: $10B

Amazon in talks to acquire satellite group Globalstar (YF)
Potential Deal Value: $8.8B

Eli Lilly buys sleep disorder drugs maker Centessa Pharmaceuticals (CNBC)
Deal Value: $7.8B

Biogen agreed to acquire Apellis Pharmaceuticals (Inv.)
Deal Value: $5.6B

KKR to privatize Japanese chemical manufacturer Taiyo via tender offer (Inv.)
Deal Value: $3.3B

Carlyle enters deal for majority stake in MAI Capital Management (YF)
Deal Value: $2.8B

Blackstone and Colony acquire Accor real estate stake (HN)
Deal Value: $1.1B

Franklin Templeton acquires digital assets investment firm in crypto push (CNBC)
Deal Value: Undisclosed

That wraps up this week’s insights. More coming your way next week.
PE Bro

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