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| In today's Daily Pitch, you'll find: | | | | | |
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| Are take-privates taking off again in 2024? | |  | | (Epixx/Getty Images) | | | Take-private dealmaking may not have reached the same dizzying heights last year as 2021 and 2022, but it was still a strong year.
Several take-private mega-deals—including the two largest PE buyouts of the year—pushed through along with a wave of smaller deals, encouraged by lower valuations. Will we see more of the same in 2024? | | | | | | | | | Blended-wing aircraft designs could fuel change | | | The aviation industry has a carbon emissions problem, but the solution may not be that far off. Our latest analyst note dives into blended-wing aircraft. This more fuel-efficient design has been around for decades, but it's now finding support among startups looking to disrupt the aerospace sector. | | | | | | | |
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| 2024 PitchBook Media Kit released | | Volatility is on the rise, everywhere. Dealmakers are looking for insights, services and tools to navigate challenging, complex market environments—and you can help them. By partnering with PitchBook Media, you can reach over two million industry professionals spanning the C-suite to flagship GP offices. Customize a unique array of options from the brand-new 2024 PitchBook Media Kit, including: - Sponsorship of market-leading reports such as the PitchBook-NVCA Venture Monitor
- Placement in the most widely read industry newsletters such as the Weekend or Credit Pitch
- Sponsored columns to share your specific message or thought leadership
- Bespoke research options for unique, in-depth analysis
Talk to us | | | | | | | |
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| The AI and machine learning startups most likely to go public | |  | | (Alexander Spatari/Getty Images) | | | The IPO window remains shut despite Instacart and Klaviyo's listings last year. But an AI-driven frenzy may be just the thing to restart the flow for startups.
Using our VC Exit Predictor, we've assembled a list of the AI and machine learning unicorns most likely to go public this year. | | | | | | | | | Orioles to join PE-backed pro sports ranks with $1.7B+ Carlyle deal | |  | Carlyle co-founder David Rubenstein
(Anna Moneymaker/Getty Images) | | | Baltimore Orioles owner John Angelos has reportedly agreed to sell the pro baseball franchise to a group led by David Rubenstein, co-founder of The Carlyle Group. The deal values the team at $1.725 billion and includes backing from Ares Management co-founder Michael Arougheti.
If the buyout is approved, the Orioles would become the 10th MLB team to be backed by private equity, according to our dashboard of PE's pro sports ties. Currently, 30% of MLB teams have PE backing and an additional 30% are owned by individuals with ties to the industry.
The deal must receive approval from 75% of the league's 30 teams, and the process could take months, according to reports. Peter Angelos, John Angelos' father, purchased the team for $173 million in 1993. | | | | | | | | | Correction: M&A marks 2nd-worst year in a decade | |  | | (Alexander Spatari/Getty Images) | | | Total M&A deal value in 2023 was among its lowest since 2013. At an estimated $3 trillion, it is second only to dealmaking during the lockdown-induced global slump of 2020. Sectors feeling the effects include B2C businesses, healthcare and financial services.
(A previous version of this article misstated the combined value of deals announced in 2023. The total was $3 trillion, not $3 billion. Updated Jan. 31, 2024.) | | | | | | | | | Repricing wave hits Europe's leveraged credit market | |  | | (Abstract Aerial Art/Getty Images) | | | | A repricing wave has hit the European leveraged loan market, allowing issuers of riskier debt to shave costs. The surge partly reflects how the loan investor market is becoming less averse to risk, which in turn is driving trading prices higher in the loan secondary market. | | | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 617 Deals | 2525 People | 1181 Companies | 35 Funds | | | | | | |
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The Daily Benchmark:
2017 Vintage Non-US PE Funds | | | | | | |
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Metronome, a usage-billing startup for SaaS companies, has raised a $43 million Series B led by NEA. OpenAI and Nvidia also participated in the deal.
Oasis Security, an Israeli cybersecurity company, has received $40 million led by Sequoia.
San Jose-based Incognia, a cybersecurity startup, has raised a $31 million Series B led by Bessemer Venture Partners.
Utah-based Halia Therapeutics, which develops drugs to treat inflammation, has raised a $30 million Series C led by angel investor Todd Pedersen.
Madrid-based home energy software startup Clevergy has raised €1.5 million in a round led by Zubi. | | | | | |
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New York's TJC, formerly known as The Jordan Company, raised $6.85 billion for its latest buyout vehicle, Resolute Fund VI, exceeding its $6 billion target, The Wall Street Journal reported.
Templewater is seeking up to $800 million for two funds that would target midsize Asian businesses and clean energy technology companies, Bloomberg reported. | | | | | |
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