M&A Activity

TPG reduced its private equity allocation from 80% to 45% of assets under management while raising over $20 billion in credit strategies, marking a dramatic shift in asset manager positioning. Third Point launched a new private credit pooled fund as firms pivot toward lending markets. The strategic realignment comes as PE deal activity continues with notable transactions including bids for Papa John's and the F&G Life Re acquisition.

A private equity consortium led by EQT Infrastructure and Energy Capital Partners is acquiring AES Corporation in a landmark energy infrastructure deal. The transaction anchors a broader wave of PE dealmaking spanning healthcare, beverages, and financial services, with multiple tender offers underway. PE firms appear to be positioning ahead of predicted equity market corrections.