CRH Nears $8B+ Deal for Arcosa, Its Largest-Ever Takeover
Building-materials giant CRH is reportedly close to buying Arcosa for $8B+, what would be its largest acquisition and a major US infrastructure roll-up.
Capital Markets
Explore how companies and governments raise money through equity and debt markets. Read coverage of financing, public offerings, transactions and market structure alongside educational guides. Find your way around ECMSource.
Fox to Buy Roku for $22B; Arb Spread Hints at Deal Doubt
Fox’s $160-a-share cash-and-stock bid for Roku closed Friday at $138.07 — a 14% spread that says traders are not convinced the deal closes clean.
Kalshi Eyes IPO at $22B Valuation as Revenue Triples
Kalshi is in early IPO talks at a ~$22B valuation after annualized revenue tripled to about $2B in seven months. Here is the case and the risk.
IPO Window Reopens: Kardigan Pops, Deep Fission Lags
Five IPOs priced and five new S-1s filed the week of June 15, 2026 — biotech soared, nuclear stumbled, and Brookfield queued a $650M data-center deal.
Secondaries Hit Record $240B as GP-Led Deals Take Over
Global secondaries volume hit $240B in 2025, a 48% jump driven by GP-led continuation funds. Jefferies sees a $300B run rate within 24 months.
First Brands Liquidation Cleared: A $2.3B Private Credit Hit
A Houston judge cleared First Brands’ liquidation on June 12, 2026, after $2.3 billion vanished. Here is what the failure exposes about private credit.
Capital Structure Waterfall: Who Gets Paid First in Default
Senior debt, subordinated bonds, preferred stock, common equity — here is the exact order claims get paid when a company defaults, with the GM 2009 worked example.
Carry Trade Explained: How It Works and Why It Blows Up
How the carry trade works in plain English: borrow in a low-rate currency, invest in a higher-yielder, pocket the spread — and what causes the unwinds.
Partners Group Caps $8.6B Fund as Q2 Gates Spread to PE
Partners Group gated its $8.6B Global Value SICAV after 9.8% redemption requests, dragging Blackstone, KKR and Apollo lower as BCRED also tightens back to its 5% cap.
Crescent Capital Closes Record $10.8B Direct Lending Fund
Crescent’s CDL Fund IV closed at $10.8B in investable capital — more than double its 2022 predecessor — as Apollo and Ares cap BDC redemptions.