Mergers & Acquisitions • 8th May 2025

Inflated Infra NAVs Cast Shadow Over Secondaries Transactions

The private infrastructure asset class has a problem with net asset valuations. GPs self-report their portfolios’ worth, third-party accounting firms verify this work, and LPs make investment decisions based on these figures — but many question the methodologies used for these calculations. Says one executive, “It’s a sham.”

Portco News • 17th April 2025

Artificial Intelligence May Slash Operating Teams

Fewer operating professionals will be required to get the same (or better) outputs at the portfolio company level.

Portco News • 4th April 2025

Lessons Learned from 3G’s Historic Burger King Turnaround

Recent quarters have been a bloodbath for PE-backed restaurant chains. 3G’s stewardship of Burger King offers insights for operators.

Portco News • 20th March 2025

Why Most Portcos Are Far From Being ‘AI-Ready’

GPs’ expectations for generative artificial intelligence to drive business growth are high. Do they match portcos’ realities?

Portco News • 14th March 2025

Higher US Employment Litigation Risk for Article 8 and 9 SFDR Funds

The EU law’s operational stipulations for sponsors could prove to be a double-edged sword at the portfolio company level — especially during Trump 2.0.

Portco News • 7th February 2025

Leonard Green’s Twice-Bankrupt JOANN: A Cautionary Tale?

Wrong industry, wrong time? Or a 13-year-long, PE-backed path to bankruptcy? We take a deep dive into Leonard Green’s troubled stewardship of the asset.

Portco News • 30th January 2025

Are All of 2024’s Bad Assets in Continuation Funds?

Common assumption is that operationally-challenged assets are typically rolled into secondaries vehicles rather than exited. What does the research say?

Portco News • 19th December 2024

Portco CFOs Key to Successful Roll-Up Strategies

M&A-oriented growth strategies produce uneven results – but a strong CFO can help guide the way.

Portco News • 12th December 2024

M&A Is Risky, But Operating Partners Choose It Anyways

Over half of exits surveyed in Privitas' “Technology: Value Creation 2024” report chose M&A as a path for growth but saw varied results.

CleanTechIQ • 29th November 2024

Private Sector Uses Public Equities for Biodiversity Protection

This article is the first in a series that is uncovering how investors are incorporating biodiversity and natural capital into their portfolios across asset classes.

Portco News • 10th October 2024

The Unexpected Impact of Family Offices on PE Portco Operations

Family offices have emerged as a worthy competitor to PE for talent, capital, and assets. How is the competition impacting the actual management of assets?

Portco News • 3rd October 2024

Are PE-Backed Companies More Likely To Go Bankrupt? It’s Complicated.

The oft-cited fact stems from a study of pre-GFC data – in recent years, the opposite was true. But post-Covid, things have started to backslide… especially in two key sectors.

Portco News • 26th September 2024

Apollo: “You Can’t Talk in the ESG, Alphabet-Soup Jargon” to CFOs

The firm’s ESG operational team believes the greatest impact on its portfolio won’t come through impact-coded language or hard, science-based targets like Net Zero by 2050.

The Guardian • 15th September 2024

Data center emissions likely 662% higher than big tech claims. Can it keep up the ruse?

Emissions from in-house data centers of Google, Microsoft, Meta and Apple may be 7.62 times higher than official tally

Portco News • 29th August 2024

“We’ve Moved Downmarket”: Behind Riverside’s Unique Roll-Up Strategy

Few companies consider deals below $5 million EBITDA – and even fewer launch roll-ups with an asset that small. But The Riverside Company does just that, with an international edge.

Portco News • 22nd August 2024

US PE’s Outperformance of European PE Is Structural, Not Operational

It’s not that US firms are better operators – there are a number of structural reasons for the performance gap between European buyouts and their American counterparts.

Portco News • 15th August 2024

Why Do Smaller Buyouts Outperform Large Caps? Operations.

Dedicated operating partners are scarce in the small- to mid-market. But counterintuitively, these firms’ operational successes have led them to outperform large buyouts.

Portco News • 2nd August 2024

Does PE Ownership Bear Some Blame for the Healthcare Cyberattack Crisis?

Private equity involvement in healthcare has been controversial for many operational reasons — we can now add digital innovation to the list.

Portco News • 25th July 2024

The Midmarket’s People Problem

2024 has seen a renewed interest in midmarket deals. Successful post-facto value creation, though, will rely on buyout firms’ ability to navigate human capital needs.

Infrastructure Investor • 13th May 2024

Financing the next phase of the data centre buildout

Demand from AI alone poses an almost impossible buildout challenge. While equity is abundant, investors have also turned to a number of debt financing options – including asset-backed securities, project finance and IPOs.

Infrastructure Investor • 3rd April 2024

Large corporations take a bite out of US energy transition infrastructure

Private infrastructure investors on the cutting edge of the energy transition have found themselves both competing and collaborating with large US corporations.

Infrastructure Investor • 25th March 2024

Nearly 30 months post-IIJA, the US PPP market remains stunted

There has been a definite uptick in the amount of public money spent on infrastructure projects with private backing. But investors have had to get creative to access that capital.

Infrastructure Investor • 22nd February 2024

‘It remains very secretive’: US tax credit transfers take off

The tail end of 2023 saw an uptick in IRA-enabled tax credit transfers, with estimates for market size ranging from $4bn-$9bn. That number is expected to grow, despite market inconsistencies.

Infrastructure Investor • 13th February 2024

Why CalSTRS is placing many energy transition investments outside the infra bucket

The public pension fund’s private sustainable investment strategy is scaling up to include more energy transition investments, the strategy’s leaders tell us.