Markets Edge — Capital flows, CMO moves, M&A

ISABELLA'S ISLAY M&A Intelligence Aug 27, 5:02 PM EDT

nVent Electric

nVent paid $1.75B for Maverick Power, plus $550M earn-out

NVent Electric agreed to acquire Maverick Power for $1.75 billion, subject to customary adjustments, with up to another $550 million in cash tied to performance milestones.

ReadingData center operators locked in pricing power the moment nVent signed the check. The secondary market for power assets will reset within 90 days.

WatchIES announces a competing acquisition within six weeks, or announces it cannot.

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HENRI IV Capital Markets Aug 27, 5:02 PM EDT

Jefferies Credit Partners

Crypto Briefing ↗

Jefferies raised €1B for secondaries fund as direct lending shrinks

Jefferies Credit Partners is raising roughly €1 billion for a new private credit secondaries fund, targeting loan acquisitions and new lending opportunities.

ReadingSecondaries private credit funds are the hospital ward for last cycle's DTC-grade credit decisions. Jefferies is walking toward the patients, not away.

WatchBlue Owl and Ares announce secondaries fund sizes within the same quarter. The pattern becomes the trade.

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MACALLAN 1926 M&A Intelligence Aug 27, 5:02 PM EDT

IES Holdings

Yahoo Finance ↗

IES plans $650M acquisition of DBM Global for data center growth

IES outlined continued growth in data center-related markets and plans for its largest acquisition to date, acquiring DBM Global for approximately $650 million.

ReadingElectrical infrastructure contractors not yet part of a data center portfolio should expect M&A conversations from private equity within 120 days.

WatchA third firm announces a data center acquisition at a lower multiple. That sets the new floor.

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LOUIS XIII Venture Intelligence Aug 27, 5:02 PM EDT

Indian Family Offices

MSN ↗

Indian family offices set to grow assets 1.5x in three years

Indian family office assets are set to grow 1.5x in 3 years, reaching Rs 1.05 lakh crore, with a shift toward alternative assets like private credit and venture.

ReadingOperators with India exposure should map alternative asset allocation shifts now. The dry powder arrives before the manager depth does.

WatchThree Singapore-based VCs announce Indian fund sleeves within the same quarter.

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PAPPY 23 Financial Intelligence Aug 27, 5:02 PM EDT

Blue Owl Capital

MSN ↗

Blue Owl BDC cut base dividend to $0.31, signaling portfolio stress

Blue Owl Capital's BDC already cut its base dividend to $0.31, raising questions about whether other BDCs will follow suit as portfolio pressures mount.

ReadingBDC investors need to reset expectations on distributions. The old payout ratios were never sustainable.

WatchTwo more BDCs announce dividend reductions within 30 days.

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JOHNNIE BLUE Luxury Sector Aug 27, 5:02 PM EDT

Luxury Auction Houses

Road and Track ↗

Monterey Car Week posted $762M in sales as luxury sector contracts

Monterey Car Week posted a record $762 million in auction sales, with a Shelby Cobra Daytona Coupe topping the charts at $42.9 million, even as the wider luxury industry has lost 50 million buyers.

ReadingMid-market luxury operators face two years of pressure before the category stabilizes. Collectible asset specialists will outperform.

WatchAuction house valuations for collectibles from other categories rise in the same quarter. That confirms the asset class rotation.

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WELL POUR Technology Intelligence Aug 27, 5:02 PM EDT

Institutional Crypto Investors

MSN ↗

Institutional crypto demand returns via ETF flows, not leverage

Institutional capital is returning to crypto after months of cautious positioning, with ETF flows providing evidence that professional investors are re-engaging on a healthier foundation than previous rallies.

ReadingCrypto market stabilization is real until the moment it is not. Institutional flows can reverse at the speed of a Fed comment.

WatchThree weeks of sustained positive Bitcoin ETF flows, or the outflow cycle resumes and the narrative flips again.

Read full analysis → Original ↗

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