KKR is reportedly close to acquiring OSTTRA, the post-trade services joint venture between CME Group and S&P Global, in a deal valued at approximately $3 billion, according to recent reports. This potential acquisition highlights private equity’s continued interest in financial technology infrastructure assets even amid market uncertainties.
In another significant development, CVC Capital Partners, one of Europe’s largest private equity firms, has reportedly explored a potential acquisition of Golub Capital, a major independent private credit lender in the US. This potential deal signals growing interest in the consolidation of the private credit space, which has seen substantial growth in recent years as an alternative to traditional bank lending.
Tech Sector Sees Major PE Interest
In the technology sector, Intel has agreed to sell a 51% stake in its Altera business to Silver Lake in a transaction valuing the field programmable gate array specialist at $8.75 billion. This deal establishes Altera as the largest standalone company focused exclusively on FPGA semiconductor solutions.
Meanwhile, aerospace is emerging as a hot sector for potential exits, with private equity firm AE Industrial Partners reportedly considering a sale of York Space Systems that could value the satellite manufacturer at more than $2 billion.
Market Outlook Remains Cautiously Optimistic
Despite these notable deals, overall US private equity activity has had a slower start in 2025. Deal counts through February were below those for the same period in the past five years, according to market analysis from Ropes & Gray. However, many industry observers expect deal activity to accelerate in the coming months.
The implementation of the Trump administration’s new tariff policies has created some uncertainty in the market, with approximately 25% of general partners reporting tariff-related delays or withdrawals of add-on deals. Nevertheless, many private equity firms are maintaining a higher-than-average risk tolerance and readiness to capitalize on new opportunities.
Private equity firms entered 2025 with significant momentum and approximately $1.6 trillion in dry powder, creating pressure to deploy capital. While broader market volatility may limit deal activity in the near term, firms with strong operational capabilities and sector expertise are well-positioned to find attractive opportunities in this environment.
