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📊 Weekly Summary
Hi there,
Here's this week's briefing on what moved markets and finance:
Gold overtook US Treasuries as the largest global reserve asset, while Eurozone inflation accelerated to 3.2%, strengthening expectations of an ECB rate hike. Hedge funds bought equities at the fastest pace in six months. Meanwhile, AI-driven demand made AI infrastructure the dominant theme in leveraged finance markets.
Private credit continued expanding, with $560B lent to US businesses since 2023. Elsewhere, Berkshire’s Greg Abel deployed $17B in his first major capital allocation moves as CEO, Vanguard’s VOO became the first ETF to surpass $1T in assets, and Citadel Securities posted another record quarter as trading activity remained elevated.
Let's dive in.
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📈 Recent Finance News
Banks offloaded $1T of credit risk through SRTs last year: Synthetic risk transfer has become a major capital management tool for global banks (YF)
Gold overtook US Treasuries as the world's top reserve asset: Hit 27% of global central bank reserves by end-2025, topping US Treasuries at 22% (BS)
Berkshire's Greg Abel deployed $17B in two deals in first major moves as CEO: Acquired Taylor Morrison for $6.8B, invested $10B in Alphabet (CNBC)
Eurozone inflation hit 3.2% in May, highest since September 2023: Energy surged 10.9%, core inflation climbed to 2.5%, ahead of June 11 ECB meeting (ET)
Vanguard's VOO became the first ETF ever to surpass $1T in AUM: A $1.7B single-day inflow pushed it past the milestone as passive investing dominates (YF)
ECB widely expected to hike rates on June 11: Services inflation jumped to 3.5% in May, signaling price pressures are broadening well beyond energy (IB)
South Korea overtook India as the world's sixth-largest stock market: Soared 86% to $5T powered by Samsung and SK Hynix on AI memory chip demand (BS)
AI data centers dominate leveraged finance: Goldman's head called AI "the number one theme" as $107B+ in committed debt for AI infrastructure (YF)
Hedge funds bought stocks at the fastest pace in 6 months: Net equity buying accelerating as the S&P 500 posted its 9th straight weekly gain (YF)
Wall Street analysts turn skeptical after the two-month rally: Despite US stocks reaching new record highs, they express caution about sustainability (YF)
ASML became Europe's most valuable company ever: The Dutch chip maker hit a $674B market cap, up 60% YTD on AI-driven demand (TVW)
Private credit has lent $560B to US businesses since 2023: An MFA report shows the asset class created 6.5M jobs and $897B in economic activity (YF)
Unrealized losses at US private credit lenders are deepening: Raising valuation opacity concerns in the $3.5T asset class (MSN)
Citadel Securities posted a record $4.3B in Q1 trading revenue: Up 26% YoY, capping a $12.2B full-year 2025 as quant giants widen their lead (CBR)
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🔍 Newly Released Reports
Market Review: Exploring Today's Investment Landscape (MSCI)
The Hidden Bias in Private Equity Benchmarks (Addepar)
Global Pension Asset Allocations and Debt Markets (BIS)
The Cost of a More Fragmented Financial System (WEC)
How to Play the World Cup: US Equity Focus (DB)
OECD Economic Outlook Under Pressure (OECD)
Review of markets over May 2026 (JP Morgan)
Accounting for Bankruptcies Manual (KPMG)
APAC Global Capital Markets Q1-26 (Savills)
Private Markets Review & Outlook (KPMG)
Belgium Corporate M&A 2026 (C&D)
Aviva Private Markets Study (Aviva)
The Sell-Side M&A Playbook (RJ)
Guide to M&A in Greece (L500)
Prospects for 2026 (CE)
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🤝 M&A Activity
UniCredit's hostile bid accepted by enough Commerzbank investors (YF)
Potential Deal Value: $45.4B
AkzoNobel pressing ahead with Axalta merger (GBF)
Potential Deal Value: $25B
Barry Diller's People Inc. offered to buy stake in MGM Resorts (CNBC)
Potential Deal Value: ~$18B
Triton Partners agreed to acquire Flender from Carlyle (GBF)
Deal Value: ~$3.5B
Ithaca Energy held advanced talks to buy BP's UK North Sea assets (RTÉ)
Potential Deal Value: $2.7B
Aluminium Bahrain agreed to acquire Aluminium Dunkerque (WAYA)
Deal Value: $2.2B
Hellman & Friedman closed deal for global B2B events group Hyve (PEW)
Deal Value: ~$1.8B
Sixth Street acquired minority stake in commodities data firm Kpler (YF)
Deal Value: $1B+
Aequita agreed to buy Rheinmetall's automotive division (DFN)
Deal Value: ~$406M
PE-backed Ryan wins bid for Nordic tax adviser Svalner Atlas Advisors (CityAM)
Deal Value: $400M+
Heartland Bank & TSB agreed to merge to create NZ's 7th-largest bank (STF)
Deal Value: NZ$620M (~$370M USD)
Sitecore acquired AI search optimization startup Scrunch (CMS)
Deal Value: $225M
Nestle to take full control of German smart food brand yfood Labs (GBF)
Deal Value: Undisclosed
That wraps up this week’s insights. More coming your way next week.
PE Bro
P.S. What caught your eye most in this week’s update? Hit reply and tell me.
