Private Equity Bros Weekly

📊 Weekly Summary

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

The Fed held rates steady at 4.25%-4.5% and reaffirmed expectations for two cuts this year, while the ECB’s tightening cycle appears done. US consumer sentiment fell to a two-year low, and retail sales posted the biggest drop since 2021. Meanwhile, gold hit a new all-time high, and global investors slashed US stock allocations.

Google acquired Wiz for $32B in one of the largest cybersecurity deals ever, Morgan Stanley is laying off 2,000 employees, and Kirkland & Ellis partners reportedly earned over $9M in 2024. On the restructuring front, Purdue Pharma filed a new bankruptcy plan for its $7.4B opioid settlement, and Oaktree made a distressed play on Sunnova Energy.

Let’s break it down.

📈 Recent Finance News

US consumer sentiment fell to a two-year low: Concerns over inflation and policy weighed on confidence (CBS)

Retail sales disappoint with biggest drop since 2021: Signals potential softness in consumer demand (MarketWatch)

Fed held rates steady at 4.25%-4.5%: Policymakers projected two cuts in 2025, despite inflation concerns (CBS)

Investors cut allocation to US stocks by the most ever: Volatility and economic fears push capital to short-term debt (YF)

Kirkland & Ellis partners earned over $9M last year: Reinforcing the pay gap between elite law firms and others (FT)

Morgan Stanley will cut 2k jobs: Cost-cutting continues in banking amid weak deal activity (Investopedia)

Goldman, McKinsey see Europe as a bright spot in M&A: Relative macro stability draws attention from dealmakers (Bloomberg)

Oaktree acquired $400M in distressed Sunnova Energy debt: The fund moves in ahead of expected creditor talks (Bloomberg)

VCs set for 20,000% return after Google's $32B Wiz deal: One of the largest security exits of all time (CTech)

Purdue Pharma filed revised bankruptcy plan for $7.4B opioid deal: A key step in resolving years-long legal battles (US News)

🔍 Newly Released Reports

• 2025 Institutional Investor Digital Assets Survey (EY)

• Private Equity in Perspective (Neuberger Berman)

• Global Fixed Income Bulletin (Morgan Stanley)

• 2025 CFO & CIO Collaboration Survey (KPMG)

• Navigating Data Migration in M&A (KPMG)

• Semiconductor Industry Outlook (KPMG)

• Macroeconomic Outlook (DBnomics)

• Guide to the Markets (J.P. Morgan)

• Thoughts from the Road (KKR)

🤝 M&A Activity

Google (Alphabet) to acquire Wiz to boost cloud security (Reuters)
Deal Value: $32B

Walgreens Boots Alliance LBO by Sycamore (Latham & Watkins)
Deal Value: $23.7B

QXO to acquire Beacon Roofing Supply (Reuters)
Deal Value: $11B

Brookfield frontrunner for Colonial Pipeline (Reuters)
Potential Deal Value: $10B

SoftBank to acquire Ampere Computing (SoftBank)
Deal Value: $6.5B

KKR & Warburg submitted bid for Gerresheimer (US News)
Potential Deal Value: $3.4B

Vocus wins approval to buy TPG's fiber business (Reuters)
Deal Value: $3.3B

BlackRock-led group to acquire Viridium from Cinven (Allianz)
Deal Value: Undisclosed

Sixth Street takes 10% stake in San Francisco Giants (ESPN)
Deal Value: Undisclosed

CVC in talks to acquire Fortress Investment Group (Bloomberg)
Deal Value: Undisclosed