Industrials

In today's edition, LPs are seeking reassurances over defence exits; ChatGPT creator OpenAI says GPs are among its busiest users; A European buyout shop hits its hard-cap.

Firm targets portfolio companies primarily in the South and Midwest, where leaders of smaller businesses tend to focus more on long-term partnership and 'thoughtful stewardship,' managing partner tells Buyouts.

While deal volume figures from earlier this year looked gloomy, data from the third quarter suggests activity may be picking up.

European governments have sharply ramped up defence budgets this year, leading to LPs and GPs alike undergoing a mass sentiment shift in favour of the sector.

Truelink Capital II is expected to hold a first, and possibly final, closing in the first quarter of next year, according to pension documents.

'We are expecting some private equity managers to be investing in this area and we have been scanning their ESG policies,' says SPFF chief executive Timo Löyttyniemi.

Efforts to expand US retail access may be facing fresh political opposition; yet another LP is seeking to accommodate defence opportunities; India's secondaries landscape appears to be thriving.

Launched in the summer, OceanSound Partners Fund III has a hard-cap of $2.9bn and is expected to hold a first close 'imminently,' sources told Buyouts.

Rolled out in September, O2 Investment Partners Fund V is expected to hold a first close before the end of the year, a source told Buyouts.

Lexington is the lead buyer, with Hamilton Lane participating as a co-lead on the deal, which has received strong pricing, sources tell Secondaries Investor.