Private Equity Bros Weekly

📊 Weekly Summary

A roundup of the biggest financial and economic headlines this week:

US Q4 GDP growth was revised up to 2.4% YoY. However, economic uncertainty looms as the US risks default by August without debt-ceiling action, and over half of CFOs expect a recession in H2 2025. Meanwhile, the UK government is weighing potential tax hikes on pensions and wealth if economic conditions deteriorate.

In markets, banks are chasing $38B in junk LBO deals to boost fee revenue, while active ETFs have reached a historic $1T in AUM. The US announced 25% tariffs on auto imports starting April. On another note, China has raised a record $200B in bonds, signaling a push for economic stimulus.

Let’s break it down.

📈 Recent Finance News

US Q4 GDP growth was revised up to 2.4% YoY: Increases in consumer and government spending were partly offset by a decrease in investment (BEA)

US announced 25% tariffs on auto imports: Effective from 2 April, with Trump promising it would spur US jobs and investment (BBC)

Fee-starved banks are chasing $38B of junk LBO deals: Big-ticket debt sales, incl. a €7.45B debt sale and a $4.3B debt, are already in the market (BBG)

US risks default by August without debt-ceiling action: "Extraordinary measures" are being explored to delay a default (CBS)

Over half of CFOs expect recession in H2 2025: CFOs are pessimistic on the state of the US economy and stock market uncertainty (CNBC)

Fed urged to explore hedge fund bail out tool for basis trade: The emergency program would exit trades during a US Treasury market crisis (BBG)

UK government could tax pensions and wealth if economy worsens: It would take effect in the Chancellor’s autumn budget (Guardian)

China industrial profits fell YTD through February: Challenging period ahead for businesses facing deflation and escalating US trade war (RT)

China raised record $200B in bonds YTD in stimulus signal: Suggests major policy moves to boost growth (YF)

Active ETFs AUM reach historic $1T milestone: Driven by regulatory changes and innovative products, capturing 30% of recent inflows (Finimize)

🔍 Newly Released Reports

• A Startup’s Handbook for Non-Dilutive Funding (Deloitte)

• Dimensions of Successful Business Transformation (MB)

• European Insurance M&A Barometer (FTI Consulting)

• The Year Confidence Returned to Media M&A (BDO)

• Tapping Private Credit Opportunities in India (PwC)

• Mid-market Debt Report H1-2025 (AlixPartners)

• Global Insurance Survey 2025 (Goldman Sachs)

• Canadian Venture Financing Report (Torys)

• M&A Trends in Consumer & Retail (KPMG)

🤝 M&A Activity

Shanghai Dazhong Public Utilities' offer to take ENN Energy private (RT)
Potential Deal Value: $11.6B

Blackstone-backed compliance tech firm ISN explores sale (Verdict)
Potential Deal Value: $6B

AT&T in talks to acquire Lumen Technologies' consumer fiber operations (CRN)
Potential Deal Value: $5.5B

PAI Partners and Bain Capital consider bids for Nestlé’s water business (PEW)
Potential Deal Value: $5.4B

Insight Partners explore sale of PDI Technologies (Investing)
Potential Deal Value: $4.5B+

Tencent acquires a 25% stake in ‘Assassin’s Creed’ maker Ubisoft (YF)
Deal Value: $4.3B

Vitol considers selling its US shale business, VTX Energy Partners (Upstream)
Potential Deal Value: $3B

Merck Inks bets on China’s Hengrui Pharma for next big heart drug (YF)
Deal Value: $2B

Bain Capital acquires majority stake in Italian software firm Namirial (PitchBook)
Deal Value: $1.2B

Brigade Capital and Macellum Capital buy Family Dollar from Dollar Tree (BW)
Deal Value: $1B