View this email online 

Investcorp closes deal with Corsair; PGA Tour in talks with Fenway, Mets’ Steve Cohen, RedBird’s Gerry Cardinale

Good morning, Hubsters. MK Flynn here with the Wire.

Holiday shopping always shines a spotlight on the retail sector at this time of year, and now a potential big deal takes retail center stage.

I’m curious to hear what the board of Macy’s makes of the reported $5.8 billion bid from an investor group led by Arkhouse Management and Brigade Capital. We’ll stay tuned to that one.

Switching sectors, there’s big news in infrastructure investing from Investcorp and Corsair. We’ve got the details on that, below.

And in sports, the PGA Tour is advancing talks with an investor group.

Planes, trains and automobiles

In the US, infrastructure investing continues to rise in prominence since the passage of the $1 trillion Infrastructure Investment and Jobs Act two years ago.

Earlier this morning, Investcorp said it has completed the acquisition of a 50 percent stake in Corsair’s global infrastructure business and has established Investcorp Corsair Infrastructure Partners.

Subscribers to the premium version of the Wire will find more details on the partnership, including high-profile projects.

Tee time

Investing in sports continues to heat up, as PE Hub has been reporting recently. NFL ownership rules could pave the way for more deals.

A golf deal is also getting a lot of attention today.

To find out more about that, upgrade to the premium version of the Wire.

That’s all for today. I’ll be back with more tomorrow, and Chris Witkowsky will write to you on Wednesday, Craig McGlashan on Thursday and Obey Martin Manayiti on Friday.

Happy dealmaking,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

In the midst of one of the worst fundraising markets of all time, a hint of optimism has emerged as new firms continue to be formed. (Buyouts)

Bifurcated fundraising market causes headaches across 2023: Private Equity International's story of the year.

Climate Fund Managers has been appointed fund manager for the GAIA blended finance debt vehicle, which will be advised by Pollination and has a $1.48 billion target. (Agri Investor)

Britain’s infrastructure reputation has taken a beating in recent years thanks to changing governments, Brexit and water utilities in disrepute, to name but a few reasons. But there is a silver lining. (Infrastructure Investor)

The defined benefit pension scheme of one of the world’s largest oil and gas companies is close to offloading a portfolio of private market fund stakes, Secondaries Investor has learned. BP’s DB pension has been shopping a portfolio around $700 million to $800 million, according to two sources familiar with the matter.