Top private equity news of the week

Advent has agreed to acquire Sapiens International Corporation, a global provider of SaaS-based software for the insurance industry, in an all-cash transaction valuing the business at $2.5bn.

Sapiens shareholders will receive $43.50 per share, a 64% premium to the company’s undisturbed closing price on 8 August 2025.

Formula Systems will retain a minority stake in Sapiens, which will become a privately held company once the deal closes. Advent has secured $1.3bn in equity commitments alongside committed debt financing, with completion expected in Q4 2025 or Q1 2026, subject to regulatory and shareholder approval.

Porsche Automobil Holding SE and Deutsche Telekom AG are in advanced discussions to anchor a €500m ($586m) venture capital fund dedicated to European defence technology, according to a report by Bloomberg.

The fund will be managed by Hamburg-based DTCP, a former Deutsche Telekom unit spun off a decade ago. Its size and investor composition could still change, sources said.

Porsche SE, the holding company for the billionaire family behind Porsche AG and Volkswagen AG, announced plans to create a dedicated defence investment vehicle, dropping its previous restriction on backing only dual-use technology.

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Affinity Partners, the private equity firm founded by Jared Kushner in 2021, has agreed to acquire an 8% stake in UK-based digital bank OakNorth from an undisclosed existing investor, according to SkyNews.

The deal, expected to close in the coming weeks, marks a significant private equity investment in one of Britain’s most prominent digital lenders, which is targeting rapid expansion in the US.

OakNorth began lending in the US in 2023 and has already issued around $1.3bn in loans. Earlier this year, it agreed to acquire Michigan-based Community Unity Bank in an all-share transaction pending regulatory approval.