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On the wire

Markets Edge

Issued Friday, July 31, 2026 · 09:00 UTC Edition 8/day editions · 6 papers From the chopped neck Latest Issue Archive Corporate Accounts
7
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Ranked by the pour ISABELLA'S ISLAY HENRI IV MACALLAN 1926 LOUIS XIII PAPPY 23 JOHNNIE BLUE WELL POUR
Also crossing the wire
ISABELLA'S ISLAYEA's $55B Saudi-backed deal clears regulatory hurdles, closes next weekHENRI IVBlue Owl's AUM hits $319B as private credit redemptions easeMACALLAN 1926Boston PE funds $1B distribution to Harbourfront advisors after acquisitionLOUIS XIIITwo PE megafunds bid $7B for $160B AUM advisory platformPAPPY 23Moody's downgrades US sovereign rating to Aa1; flags bank profitability risksJOHNNIE BLUEDirect lending falls sharply while private credit fundraising reboundsWELL POURZepto defers IPO pricing talks; listing pushed weeks outISABELLA'S ISLAYEA's $55B Saudi-backed deal clears regulatory hurdles, closes next weekHENRI IVBlue Owl's AUM hits $319B as private credit redemptions easeMACALLAN 1926Boston PE funds $1B distribution to Harbourfront advisors after acquisitionLOUIS XIIITwo PE megafunds bid $7B for $160B AUM advisory platformPAPPY 23Moody's downgrades US sovereign rating to Aa1; flags bank profitability risksJOHNNIE BLUEDirect lending falls sharply while private credit fundraising reboundsWELL POURZepto defers IPO pricing talks; listing pushed weeks out
Showing 7 stories
ISABELLA'S ISLAY M&A Intelligence Jul 31, 5:02 AM EDT
Electronic Arts
Kotaku / MSN ↗

EA's $55B Saudi-backed deal clears regulatory hurdles, closes next week

Electronic Arts confirmed that all regulatory approvals required for its $55 billion sale to Saudi Arabia and multiple private equity groups have been obtained, with closing expected the following week.

ReadingPE and sovereign wealth funds have moved past technology and into cultural assets. Valuations for media properties with recurring revenue now assume this buyer class exists.
WatchWithin two weeks, at least one other gaming or entertainment platform will field an acquisition offer at a premium that assumes the EA precedent.
Read full analysis → Original ↗
m&aprivate equitygamingsovereign wealth
HENRI IV Capital Markets Jul 31, 5:02 AM EDT
Blue Owl Capital
Reuters / MSN ↗

Blue Owl's AUM hits $319B as private credit redemptions ease

Blue Owl posted higher second-quarter profit on the back of $319 billion in assets under management, signaling that redemption pressures in private credit are easing despite continued fundraising headwinds.

ReadingPrivate credit operators who broadened their mandate in 2025 are now outpacing pure-play direct lenders. Generalists win when sentiment shifts.
WatchThe next three quarterly reports from Ares, Carlyle, and KKR will confirm whether Blue Owl's stabilization is sector-wide or firm-specific.
Read full analysis → Original ↗
private creditcapital marketsaumfundraising
MACALLAN 1926 M&A Intelligence Jul 31, 5:02 AM EDT
Harbourfront Wealth Group
The Globe and Mail ↗

Boston PE funds $1B distribution to Harbourfront advisors after acquisition

Harbourfront Wealth Group will distribute approximately $1 billion to its advisors, employees, and other shareholders following a strategic investment from a Boston-based private equity firm.

ReadingMid-market RIA rollups are shifting from consolidation plays to minority-stake liquidity events. Partners get paid now while platforms remain independent-looking.
WatchWithin 30 days, at least two other Canadian or regional US advisory platforms will announce similar minority-stake arrangements with PE sponsors.
Read full analysis → Original ↗
m&aprivate equitywealth managementria
LOUIS XIII M&A Intelligence Jul 31, 5:02 AM EDT
Minneapolis-based RIA (unnamed)
InvestmentNews ↗

Two PE megafunds bid $7B for $160B AUM advisory platform

Two of the world's largest private equity firms are in a bidding war to acquire a Minneapolis-based registered investment advisor managing $160 billion in assets, in what could become one of the most significant RIA acquisitions on record.

ReadingRIA valuations have moved past 1.5x revenue. The competition for quality platforms with institutional client bases is driving 2.0x+ bids.
WatchThe winning bidder closes within 90 days. The losing bidder immediately targets the next available platform in the $100B+ category.
Read full analysis → Original ↗
m&aprivate equityriawealth management
PAPPY 23 Capital Markets Jul 31, 5:02 AM EDT
Moody's Ratings
MSN / Investopedia ↗

Moody's downgrades US sovereign rating to Aa1; flags bank profitability risks

Moody's downgraded the United States government's credit rating from Aaa to Aa1, citing concerns about the country's inability to arrest growing debt, while simultaneously downgrading 10 banks and placing six others on negative watch.

ReadingMoody's has confirmed what the Treasury curve already priced: US fiscal capacity is constrained and bank profitability is fragile. Loan pricing will reflect this.
WatchWithin two weeks, at least three regional or mid-cap banks will announce higher deposit rates or customer concessions in response to downgrade signals.
Read full analysis → Original ↗
credit ratingssovereign debtbanking
JOHNNIE BLUE Financial Intelligence Jul 31, 5:02 AM EDT
Private credit sector (multiple)
Reuters ↗

Direct lending falls sharply while private credit fundraising rebounds

Direct lending by US private credit firms fell sharply in the second quarter even as fundraising by such firms rebounded, underscoring a fundamental shift in how the sector deploys capital.

ReadingDirect lending has become a commodity. Firms with pure-play models will face margin compression. Diversified platforms outperform by definition.
WatchBy Q3, at least three direct-lending-only platforms will announce strategic pivots into adjacent asset classes or face flat-to-negative fundraising.
Read full analysis → Original ↗
private creditdirect lendingcapital marketsfundraising
WELL POUR Venture Intelligence Jul 31, 5:02 AM EDT
Zepto (India)
Economic Times ↗

Zepto defers IPO pricing talks; listing pushed weeks out

Zepto is negotiating IPO pricing with large institutional investors and may defer its listing over the coming weeks, according to sources familiar with the discussions.

ReadingLate-stage venture platforms in emerging markets are discovering that public market pricing discipline differs from late-stage round expectations by 20-30%.
WatchIf Zepto closes within 60 days, the IPO market is intact. If it pushes past October, other Asia-Pacific listings will see downward pressure.
Read full analysis → Original ↗
ipoventureindiapricing
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