PE Hub Wire

A look at dealmaking in the healthcare sector with a report from Bain & Company; our weekly update on companies for sale; Houlihan Lokey’s Q2 environmental services update, which touches on a liquid waste management company we covered coming up for sale among several Audax portfolio companies.

Capstone anticipates an influx of deal activity through the fourth quarter of 2025 and into 2026, as companies and fund managers digest recent economic and political volatility and these pressures subside.

Talking with KKR partner Ali Satvat about his firm's acquisition of HealthCare Royalty Partners, which invests in commercial-stage and near-commercial-stage biopharmaceutical assets; insights from Jamie Kaufman, a partner at NexPhase, on his firm's investment in Magic Science Corporation, a New York-based health sciences company behind the skincare brand Magic Molecule; Carlyle agrees to buy a provider of practice management services to financial advisory firms from Intelliflo.

Lightrock is providing equity financing in return for a minority stake in Previse Systems, a Swiss energy trading and risk management software provider.

For months, we’ve had anecdotal evidence that April’s tariff rollercoaster ride took a toll on dealmaking. Today, we’ve got the numbers to prove it.

Also, we have dealmaking insights from Bailey & Company’s Q2 2025 Healthcare M&A Spotlight report.