Private Equity Bros Weekly

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📊 Weekly Summary

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

Jamie Dimon warned that the Fed may need to raise rates further, while global regulators called for leverage limits on hedge funds. The US announced sweeping new tariffs: 50% on copper and 200% on pharmaceuticals. Meanwhile, gold ETFs saw their largest inflows in five years as investors sought refuge from rising uncertainty.

In markets, Nvidia became the first company to reach a $4T valuation. PE-backed IPOs returned with high leverage, but VC-backed listings are on pace for a decade low. Dutch pension funds plan to offload $150B in government bonds, and investors are watching European earnings for signs of resilience amid trade turmoil.

Let’s break it down.

📈 Recent Finance News

Jamie Dimon warned of risk of higher Fed rates: Dimon said his higher probability was based on price pressures (YF)

Investors look for signs European earnings can defy tariff turmoil: Q2 earnings may reveal how companies are adapting to trade volatility (RT)

Dutch pension funds are set to sell $150B of European government bonds: The Dutch pension sector is moving to a defined contribution model (SLG)

US plans to impose a 50% copper tariff and 200% pharma tariff: This would mark the 4th across-the-board tariff Trump has imposed during his 2nd term (CNN)

Global banks projected to see a 10% trading revenue boost on tariff turmoil: The projections follow a 15% gain in trading revenue in Q1 for 12 banks (RT)

PE-backed US IPOs return with plenty of leverage: Debt-heavy private equity exits are testing market appetite as listings resume (AInvest)

VC-backed firms on track for fewest US IPOs in a decade: Venture firms cite uncertainty about the US public market, trade policy, and economy (PYMNTS)

Gold ETFs saw the largest inflows in five years in H1: Inflows hit $38B in H1 2025, with collective holdings rising by 397.1 metric tons of gold (WGC)

Nvidia becomes first company to hit a $4T market cap: The company's growth is driven by its leading role in AI technology (YF)

Global regulator says hedge funds should face limits on leverage: FSB warns excessive hedge fund borrowing poses systemic financial risks (RT)

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🔍 Newly Released Reports

• Brand Valuation of IPL and Franchisees (Houlihan Lokey)

• Global Investment and M&A Outlook (Brown Advisory)

• EMEA Non-Performing Loan Market Monitor (EBCI)

• London’s Niche Financial Sector (Knight Frank)

• Debunking Junior Capital Myths (Nuveen)

• Fundraising for Startups Guide (PwC)

• Global Investment Outlook (Fidelity)

• Industrials M&A Update (RL Hulett)

• The Rise of Private Markets (Carlyle)

• Fundraising Report H1-25 (PEI)

• IPO Watch EMEA H1-25 (PwC)

🤝 M&A Activity

Merck to acquire Verona Pharma in all-cash respiratory deal (YF)
Potential Deal Value: $10B

Starbucks evaluates offers for potential sale of China unit (MSN)
Potential Deal Value: $10B

OpenAI acquires Jony Ive’s AI device startup io Products (TV)
Deal Value: $6.5B

Meta buys 3% stake in Ray-Ban maker in AI glasses push (YF)
Deal Value: $3.5B

Ferrero nears deal for WK Kellogg cereal unit (YF)
Potential Deal Value: $3.1B

Stonepeak in talks to invest in Warburg-backed Princeton Digital (MT)
Potential Deal Value: $1B

TopBuild to acquire Progressive Roofing for $810M (USH)
Deal Value: $810M

Autodesk considers takeover of $25B-listed rival software firm PTC (YF)
Deal Value: Undisclosed

Aquiline seeks sale of personal finance firm Quicken (Inv.)
Deal Value: Undisclosed