Permira is in advanced talks to sell Italian luxury sneaker brand Golden Goose to HongShan Capital Group, in a deal expected to value the company at more than €2.5bn ($3bn), Reuters reports.

The negotiations, first reported by Italian media, are ongoing, with both firms declining to comment. If completed, the deal would mark one of the largest consumer brand acquisitions by a Chinese investor in Europe this year.

Permira acquired Golden Goose in 2020 for around €1.3bn from Carlyle and has since expanded the Venice-based company’s international presence, particularly in Asia and the US. The brand, known for its deliberately scuffed sneakers priced above €500, reported €655m in revenue and €227m in adjusted EBITDA in 2024.

Clearlake Capital has agreed to acquire investment manager Pathway Capital Management, a move that will more than double its assets under management to $185bn and strengthen its position across private credit, secondaries, and co-investments.

The deal terms were not disclosed, though the Wall Street Journal reported that Clearlake is paying about $1bn for the Irvine-based manager, which oversees more than $95bn across private equity, private credit, and infrastructure mandates.

Clearlake said the acquisition will expand its reach among institutional and wealth clients, reflecting broader industry efforts to grow private markets distribution beyond traditional LP channels.

Read more here.

Neuberger Berman has announced the final close of its fifth private debt fund, NB Private Debt V, raising $7.3bn including leverage and exceeding its initial target.

The fund will invest primarily in senior secured, first-lien, and unitranche loans to private equity-owned companies in the US, continuing the firm’s strategy of focusing on high-quality borrowers and capital preservation.

“We are deeply grateful for our investors’ ongoing trust and support,” said Susan Kasser, Head of Private Debt at Neuberger Berman. “Capital preservation is our first priority. Since inception, our annualized default and loss rates remain low at just 0.02% and 0.01%, respectively, as our assets under management continue to grow.”

Read more here.

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