Top storyVenture
OpenAI has cut its latest funding round target by $10 billion to about $20 billion, with a desired valuation of $1.25 trillion, according to the FT. A UAE investor consortium including MGX is expected to be the largest participant, with Founders Fund, Coatue, Sequoia and Andreessen Horowitz also expected to take part.
$43.4B in 18 final closes
Full league table →Lantern and Fortress raised $150 million for Bluejack.
ACORE launched Acore Capital Wealth Solutions to give wealth investors access to institutional-quality real estate private credit and equity. ACORE also closed its second opportunistic credit fund on $1.1 billion.
PERE · also Alternative Credit Investor, AltAssets +6
ICM Asia and Concord Capital Management launched a U.S. Sunbelt industrial real estate fund targeting warehousing and industrial facilities tied to semiconductor manufacturing in Phoenix and other Sunbelt markets.
CAPTRUST has acquired Pacific Sage Partners to strengthen its presence in the Pacific Northwest.
Ares held a first close of more than $8bn in equity commitments across its latest US senior direct lending program, combining Fund IV and the open-ended Core vehicle. The first close is 80% of target and about 60% larger than the prior vintage's first close.
Thrive Holdings agreed to acquire home security provider ADT in a $7.6bn all-cash transaction at $10 per share, a premium of nearly 46%. Funds managed by Apollo Global Management affiliates are providing financing, valuing ADT at $15.3bn including debt.
Private Equity Wire · also TechCrunch, Global Legal Post +1
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