Ares Raises More Than $7 Billion for Inaugural Credit Secondaries Fund
Ares Management has raised approximately $7.1 billion for its Credit Secondaries strategy, including the final closing of its inaugural Ares Credit Secondaries Fund and affiliated vehicles. The fund attracted about $4 billion in limited partner equity commitments, doubling its original target and marking Ares’ largest inaugural institutional fundraise. Launched to acquire senior secured, private equity-backed private credit portfolios, the fund allocates capital across LP-led transactions and continuation vehicles. Dave Schwartz leads the strategy with Blair Jacobson ...
Read More Monroe Banks $6.1 Billion for Fund V
Monroe Capital has closed its 2025 Monroe Capital Private Credit Fund V with $6.1 billion of total investable capital. The close follows the firm’s prior institutional vehicle, Fund IV, which raised $4.8 billion of investable capital in 2022. Monroe Capital provides senior secured loans, unitranche financings, and mezzanine capital that customers use to fund acquisitions, refinancings, and growth. The firm serves private equity–sponsored and independent lower middle-market companies. Monroe Capital was founded in 2004 by ...
Read More Highland Rim Closes $208 Million Debut Fund Above Target
Highland Rim Capital has closed its debut private equity fund at $208 million, surpassing its initial target and marking a milestone for the lower middle market firm. Limited partners in the new fund include asset managers, pensions, foundations, family offices, insurance companies, and endowments. Highland Rim makes control investments in companies with revenue between $10 million and $100 million and EBITDA ranging from $2.5 million to $10 million. The firm invests on a nationwide basis, ...
Read More Heartwood Closes Continuation Vehicle for Amlon
Heartwood Partners has closed a continuation fund for The Amlon Group, a provider of hazardous waste management and environmental services, with approximately $245 million in capital commitments. The transaction was led by Apogem Capital. New investors in the vehicle include New 2ND Capital, Reinsurance Group of America (RGA), Mercer Investments, Round2 Investment Partners, and Flexstone Partners. Proceeds from the transaction will be used to support future add-on acquisitions and greenfield expansion projects for Amlon. Amlon ...
Read More Peninsula Closes Fund, Invests in Marcus Thomas
Peninsula Capital Partners has made an investment in Marcus Thomas, a marketing communications agency. Peninsula’s investment in Marcus Thomas was structured as a combination of subordinated debt and common equity with capital from the firm’s newest fund, Peninsula Fund VIII LP (Fund VIII), which closed with $400 million in capital in September 2025. Marcus Thomas is a full-service advertising and digital marketing agency that provides creative development, media planning, public relations, and marketing automation services. ...
Read More Northstar Closes $530 Million Across Parallel Funds
Northstar Capital has held a final close of Northstar Mezzanine Partners VIII LP and Northstar Mezzanine Partners SBIC II LP with a combined $530 million of capital. This fundraise follows the prior parallel fundraise that closed in January 2021 with $500 million in combined commitments. Northstar is an active provider of mezzanine debt and equity co-investments to sponsored lower middle market companies with at least $3 million of EBITDA. Sectors of interest include healthcare, industrials, ...
Read More Monogram Hard Caps $350 Million Third Fund
Monogram Capital Partners has held an oversubscribed and hard cap close of its third fund, Monogram Capital Partners Fund III LP, with $350 million of capital. Limited partners in Fund III include endowments, foundations, family offices, and funds of funds, with many long-time investors participating in the new fund. Beverly Hills-headquartered Monogram invests up to $75 million of equity in companies with revenues of $5 million to $250 million. Sectors of interest include food and ...
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J.F. Lehman Acquires Majority Stake in Wellman Dynamics
J.F. Lehman & Company has acquired a majority equity interest in Wellman Dynamics in partnership with TRM Equity, which is retaining a minority ownership position in the company. J.F. Lehman’s investment was made through its sixth fund, JFL Equity Investor VI LP. Wellman Dynamics manufactures large-scale, high-complexity magnesium and aluminum ...
Read More Schill Grounds Management Switches Sponsors
TruArc Partners has acquired Schill Grounds Management, a provider of commercial landscaping services, from Argonne Capital Group. Schill’s services include landscape maintenance, snow and ice removal, landscape enhancement, and hardscaping. The company’s services are used primarily by property managers overseeing multifamily residential communities, retail and office complexes, healthcare facilities, industrial ...
Read More Gryphon Backs Fortreum in Cybersecurity Growth Deal
Gryphon Investors has acquired Fortreum in partnership with the founders of the cybersecurity services firm. Fortreum provides cybersecurity services that help companies meet federal and commercial compliance standards. Its work spans regulatory audits, security advisory support, and technical testing, including penetration testing – where professionals simulate real-world cyberattacks on a ...
Read More Align Acquires Armko Industries
Align Capital Partners (ACP) has acquired Armko Industries, a provider of building envelope, roofing and waterproofing consulting services. Armko is an engineering and consulting firm that provides technical services centered on the building envelope, the physical barrier separating a building’s interior from the exterior environment. The company advises building owners, ...
Read More J.C. Flowers Closes Big Buy
Admiral Group has completed the sale of its U.S. motor insurance business to J.C. Flowers & Co. The transaction includes both Elephant Insurance Company and Elephant Insurance Services. Elephant Insurance is a direct-to-consumer auto insurer with a range of vehicle insurance products, including liability insurance, collision and comprehensive coverage, and ...
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An Economy Moving Forward, Unevenly
The U.S. economy is still pulling in two different directions. Manufacturing remains weak, with the ISM Manufacturing PMI around 48 in December, another month below the line that separates growth from contraction. PMI readings are straightforward: numbers above 50 mean activity is generally growing, while numbers below 50 mean it’s ...
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PIK and Preferred Equity Financing Structures: Balancing Flexibility with Risk
The Rise of Non-Cash Pay Capital Structures In an environment where interest rates remain elevated and exit timelines have extended, private equity sponsors are seeking new ways to balance liquidity needs against operational realities. As a result, Configure has observed an increase in non-cash pay capital structures. Payment-in-kind (PIK) instruments, ...
Read More Deloitte: PE Loves AI
A new national survey from Deloitte shows that 86% of corporate and private equity firms have adopted generative artificial intelligence in their M&A workflows, with most respondents expecting to increase related investment over the next 12 months. The new survey, Deloitte’s first-ever 2025 GenAI in M&A Survey, gathered responses from ...
Read More A Rose by Another Name: McCarthy Capital Rebrands as M-One
Middle-market-focused McCarthy Capital has rebranded as M-One Capital. The Omaha-based firm’s new name reflects its ongoing focus on backing founder- and management-led businesses, while signaling a broader investment approach across sectors and regions. McCarthy Capital was founded in 1986 as a fundless sponsor, making majority and minority investments of less ...
Read More The 401(k) Revolution: Private Equity’s Boom or Bust Moment?
he idea of integrating private equity (PE) into 401(k) plans is back in the spotlight, and the question isn’t just can it be done, it’s should it be done, and who will choose it? The U.S. government has signaled that it is open to allowing these investments within defined contribution ...
Read More Tri-Imaging Switches Sponsors
Quilvest Capital Partners has sold Tri-Imaging Solutions to DirectMed Imaging, a portfolio company of Frazier Healthcare Partners. Tri-Imaging provides parts, on-site service, technical support, and training for diagnostic medical imaging equipment. The company supplies replacement components for MRI, CT, ultrasound, mammography, CATH/Angio, and X-ray systems and supports customers seeking alternatives to original equipment manufacturers for aftermarket parts and services. The company has in inventory of more than 100,000 MRI, CT, and X-ray parts. Tri-Imaging also offers data analytics tools that help customers monitor equipment performance and manage maintenance activity, and it operates training programs for imaging ...
Read More Heartwood Sells Sur-Seal to Brodie Generational
Heartwood Partners has completed the sale of Sur-Seal to Brodie Generational Capital Partners, marking the fifth portfolio company exit for Heartwood in the past 13 months. Sur-Seal provides engineered sealing, thermal management, and custom material converting services for use in electric vehicles, HVAC, medical, and industrial technology markets. The company’s product capabilities include precision die-cutting, adhesive applications, thermal interface materials, gasketing, and EMI shielding. Customers of Sur-Seal include global OEMs and tier-one suppliers. Sur-Seal, led by CEO Pete Futia, was founded in 1965 and is headquartered in Cincinnati with multiple operating facilities in the United States ...
Read More Arlington Sells Tex-Tech to Michelin, Spinning Out FMI Industries
Arlington Capital Partners has agreed to sell Tex-Tech Industries to Michelin and will simultaneously spin out FMI Industries as a separate Arlington portfolio company. Tex-Tech Industries develops and manufactures specialty textiles and engineered materials used in aerospace, defense, medical and industrial applications where components must perform under extreme conditions. The company traces its roots to 1904, and its headquarters are located near Winston-Salem in Kernersville, North Carolina. Tex-Tech’s products include thermal protection systems used for space vehicle insulation, coated and laminated fabrics used for sealing and protective barriers, and woven and non-woven textiles used in applications ...
Read More Tropical Cheese Acquires Cibao Meat Products
Tropical Cheese Industries, a portfolio company of Avance Investment Management and AUA Private Equity, has acquired Cibao Meat Products. Avance Investment Management and AUA Private Equity acquired family-owned Tropical Cheese in December 2024. Cibao Meat Products produces popular Hispanic-style meats including salami, longaniza, chorizo, and jamoneta. Salami is a cured, tangy sausage; longaniza is a spiced pork sausage, often fried; chorizo is a bold, chili-seasoned sausage used in many dishes; and jamoneta is a sliced, ...
Read More Clearlake’s PrimeSource Acquires Advantage Industries
PrimeSource Brands, a portfolio company of Clearlake Capital, has acquired Advantage Industries, a manufacturer of gate and pool safety hardware products. Advantage Industries is a manufacturer of gate and pool safety hardware sold under the Safetech Hardware brand. The company’s product portfolio includes self-closing hinges, pool safety latches, heavy-duty gate hardware, and decorative accessories used in residential, commercial, and institutional settings. Source: Advantage Industries Advantage’s products are often used in situations where pool and perimeter ...
Read More Cornell’s PureStar Buys Emerald Textiles
PureStar, a provider of commercial laundry services and a portfolio company of Cornell Capital, has acquired Emerald Textiles, a portfolio company of Pacific Avenue Capital Partners. Emerald Textiles is a provider of healthcare laundry and linen management services. The company provides pickup, processing, and delivery of linens and textile products to hospitals, clinics, and healthcare systems. The company processes traditional linens as well as specialty items such as mops, mats, scrubs, and isolation gowns designed ...
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Salt Creek Capital Acquires Thermal Printer Maker Nanoptix
Salt Creek Capital has acquired a controlling interest in Nanoptix, a manufacturer of thermal printing technologies serving the global gaming, lottery, and kiosk industries. The transaction involves the sale of a majority stake by company founder and CEO Daniel Vienneau, who is stepping into an advisory position. Nanoptix designs and manufactures thermal printing hardware used in high-transaction settings such as casinos, self-service terminals, and amusement systems. Its ...
Read More Peterson Farms Acquires Blue Point’s Country Pure Foods
Blue Point Capital Partners has completed the sale of Country Pure Foods, a manufacturer of juice and beverage products, to Peterson Farms which is co-owned by the Peterson family and Mubadala Capital. Country Pure Foods was founded ...
Read More Heartwood Closes Continuation Vehicle for Amlon
Heartwood Partners has closed a continuation fund for The Amlon Group, a provider of hazardous waste management and environmental services, with approximately $245 million in capital commitments. The transaction was led by Apogem Capital. New investors in ...
Read More Truelink Capital Sells Koch Filter to Atmus for $450 Million
Truelink Capital has agreed to sell Koch Filter Corporation to Atmus Filtration Technologies for $450 million in cash. Koch Filter is a subsidiary of Air Distribution Technologies (ADTi), a portfolio company that Truelink acquired in June 2024 ...
Read More Torque Races to Orbit with Latest Buy
Torque Capital Group has acquired Joe Gibbs Manufacturing Solutions from Joe Gibbs Racing. Following the close of the transaction, the acquired business will be rebranded as JGA Space & Defense. This transaction marks an exit for Joe ...
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Trive Capital Forms Vendor Management Platform
Trive Capital has acquired Illumis Global as a new platform in the vendor management and accounts payable recovery sectors. Illumis Global provides software and auditing services that help large corporations recover lost profits hidden within their accounts payable ledgers. The company scans thousands of vendor invoices, purchase orders, and contracts to detect billing ...
Read More Truelink Carves SouthernCarlson from Kyocera
Truelink Capital has agreed to acquire SouthernCarlson from publicly traded Kyocera Corporation. The transaction is a corporate carve-out, separating the Omaha, Nebraska-based distributor from its Japanese parent company, which originally ...
Read More Southfield’s Osprey Landscape Group Acquires Earthworks
Osprey Landscape Group, a portfolio company of Southfield Capital, has acquired Earthworks, a Texas-based provider of commercial landscaping services. This marks Osprey’s third acquisition since its formation in December 2021. ...
Read More HighPost Capital Promotes David Weston
West Palm Beach-headquartered HighPost Capital has promoted David Weston to senior managing director, expanding his leadership responsibilities while he continues to oversee investment sourcing and evaluation across the firm’s core consumer-focused sectors. The promotion follows Mr….
Periscope Elevates Luke Elder to Principal, Harry Waddoups to Vice President
Periscope Equity has promoted Luke Elder to Principal and Harry Waddoups to Vice President. The promotions reflect internal advancement within the investment team and follow several years of portfolio work across technology-enabled business services companies….
Piper Sandler Adds Dan Wolf to Healthcare Investment Banking Team
Piper Sandler has added Dan Wolf as a managing director in its healthcare investment banking group. Mr. Wolf will advise healthcare technology companies on mergers and acquisitions, strategic partnerships, and capital raising, strengthening the firm’s…
O2 Promotes Thomas Girdler to VP
O2 Investment Partners has promoted Thomas Girdler to Vice President, reflecting his performance and expanded responsibilities within the firm. The promotion follows another active year for O2 and supports its continued growth entering 2026. Mr….
Lovell Minnick Promotes Three
Lovell Minnick Partners, a financial services and fintech investor, has promoted Scott Shebelsky to Partner and appointed Alex Lovell and Roumi Zlateva to Principal. Ms. Zlateva was also named Head of Capital Markets as part…
Odyssey Announces Senior Promotions
New York City-based Odyssey Investment Partners, an industrial and business services investor, has promoted Henry Bendit to managing principal. The firm also promoted Spencer Marks and Tyler Miller to vice president and elevated Eitan Lewittes…
Portage Point Names Adam Pollak Head of Advisory
Portage Point Partners has added Adam Pollak as head of advisory and a member of the executive leadership team. Pollak will oversee transaction advisory services, valuations, transaction execution services, office of the CFO, and performance…
Abacus Enters 15th Year with Series of Promotions
Abacus Finance Group has promoted Seth Friedman and Eric Petersen from managing director to senior managing director and Greg Scanlon from senior associate to vice president. Abacus specializes in financing sponsor-led transactions in the lower…