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TOP STORY: Two major private equity firms, KKR and CVC, have submitted bids exceeding €3bn for B&B Hotels, a French budget hotel chain that was founded in Brest, Brittany in 1990, and has since expanded to 17 European countries, according to a report by the Times.

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Blackstone Group, the world’s largest buyout firm, has emerged as a major player in the acquisition of bank loans critical to the private equity industry, despite exposing itself to risks generated by its own operations in the process, according to a report by the Financial Times.

Intel

Paramount Global is in exclusive negotiations to sell its Black Entertainment Television network to an investor group led by BET CEO Scott Mills and Chinh Chu, head of the New York-based private equity firm CC Capital, according to a report by Bloomberg.

Intel

New York-headquartered alternative investment firm New Mountain Capital has held the final close of its seventh control-oriented fund, New Mountain Partners VII, with $15.4bn in capital commitments.

Intel

BlackRock has agreed to acquire Preqin, a UK-based independent provider of private markets data for £2.55bn ($3.2bn) in cash, combining Preqin’s data and research tools with Aladdin’s workflow functions into a single platform.

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Private investment major KKR & Co is gearing up to secure approximately $20bn from investors for its latest flagship North America private equity fund, North America Fund XIV, according to a report by Reuters. 

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Private equity giant Blackstone plans to double its European Private Credit Fund within the next year after raising €1bn from the region’s affluent investors, aiming to mirror the success of its $54bn US flagship fund, according to a report by the Financial Times. 

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The Carlyle Group and Goldman Sachs Private Credit have extended a $1.1bn payment-in-kind loan to global fund administrator Apex Group, according to a report by Bloomberg. 

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Global investment firm HPS Investment Partners has raised $21.1bn for its flagship Specialty Loan Fund VI, which includes commitments from investors totalling $14.3bn, according to a report by the Financial Times. 

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Carlyle Group and KKR have emerged as final bidders for Discover Financial’s $10bn portfolio of US student loans, underscoring private investment firms’ growing interest in filling the lending void left by traditional banks, according to a report by the Financial Times. 

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