Private Equity Bros Weekly

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📊 Weekly Summary

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

Goldman Sachs is opening access to hedge fund giant Millennium with a new $1M entry structure, while Michael Burry of Big Short fame revealed fresh bullish bets in Q2. In markets, China equities surged past $300B in turnover, and global investors continued to rotate into non-US assets, shifting $13.6B in July.

Japan’s economy surprised with 1.2% growth in Q2. Meanwhile, the Fed’s reverse repo facility dropped to its lowest since April 2021. On the private markets side, private credit funds are struggling to deploy capital, and discounts on London-listed PE funds have raised concerns over hidden risks in 401(k) exposure.

Let’s break it down.

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📈 Recent Finance News

Goldman Sachs is offering clients a stake in Millennium for just $1M: The structure democratizes access to the global top-tier hedge fund (BT)

Japan GDP grew 1.2% YoY in Q2 despite US tariffs: The economy grew faster than expected, helped by a rush of exports ahead of US tariffs taking effect (Inv.)

Fed’s reverse repo facility fell to $28.8B, its lowest since April 2021: A sign of tightening liquidity in money markets (Mitrade)

Private credit funds struggle to find deals to deploy capital: Blackstone Secured Lending Fund deployed 51% less in Q2 compared to last year (IN)

Private equity funds traded in London hint at hidden 401(k) risk: London-listed PE discounts highlight valuation and liquidity risks in 401(k)s (NAI 500)

Debt market jitters signal caution for high-flying stocks: Tight spreads and macro concerns are triggering increased caution (RT)

China stocks turnover tops $300B as bulls take charge: Rising optimism fuels rally in mainland equities (NDTV)

'Big Short' investor Burry turned more bullish in Q2: Michael Burry revealed fresh bets on Meta, Alibaba, and UnitedHealth (YF)

Global investors flock to non-US markets: Investors shifted $13.6B to non-US equity funds in July, driven by better returns in Europe and emerging markets (RT)

Saudi PIF’s AUM jumped 19% but returns slipped to 7.2%: The write-down comes amid lower global oil prices and a growing fiscal deficit (CNBC)

🔍 Newly Released Reports

• Investment Guide for Portfolio Construction (CMS)

• Private Markets Chartbook (Partners Group)

• Non-Performing Loans Watch in Asia (ADB)

• Mid-year Private Equity Review (Vanguard)

• Guide for Plan Sponsors (Goldman Sachs)

• Pharma and Biotech M&A Outlook (Y&P)

• Auto Retail and M&A Trends (Presidio)

• Guide to Venture Philanthropy? (UBS)

• Credit Fundraising at a Glance (PW)

• Mid-year Credit Outlook (Apollo)

🤝 M&A Activity

BlackRock-led group to invest in Saudi Aramco gas project (GIP)
Deal Value: $11B

KKR to launch sale of UK-based recycling group Viridor (PEI)
Potential Deal Value: $9.5B

Advent International to take-private Israeli insurance software firm Sapiens (PEI)
Deal Value: $2.5B

Apollo to acquire German cooling equipment maker Kelvion from Triton (PEW)
Deal Value: $2.3B

Centrica and Energy Capital Partners to acquire UK’s Grain LNG terminal (BBC)
Deal Value: $2.3B

Gildan Activewear to acquire US underwear maker Hanesbrands (CPI)
Deal Value: $2.2B

RBC, BMO explore sale of payments processor Moneris (YF)
Potential Deal Value: $2B

BNP Paribas in advanced talks to acquire Mercedes-Benz leasing unit Athlon (MF)
Potential Deal Value: $1.2B

The Trump administration is reportedly considering taking a stake in Intel (CNN)
Deal Value: Undisclosed

Temasek-backed ST Telemedia weighing sale of 34% stake in GDS (BT)
Deal Value: Undisclosed