Core Viewpoint - Rosen Law Firm is reminding former stockholders of Smartsheet Inc. about a class action lawsuit related to the January 2025 sale of Smartsheet to a consortium including Blackstone, Vista Equity Partners, and Platinum Falcon, with a lead plaintiff deadline set for February 24, 2026 [1]. Group 1: Class Action Details - Former Smartsheet stockholders may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by February 24, 2026 [3]. - Investors are encouraged to select qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Allegations Against Smartsheet - The complaint alleges that Smartsheet's solicitation of stockholder approval for the Buyout involved a false and misleading Schedule 14A Proxy statement, which mischaracterized the company's financial performance [5]. - Defendants are accused of deliberately presenting Smartsheet's quarterly earnings negatively and emphasizing a fabricated financial metric to solicit approval for the Buyout [5].

NEW YORK, Jan. 06, 2026 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of all former stockholders of Smartsheet Inc. (NYSE: SMAR) in connection with the January 2025 sale (the “Merger” or “Buyout”) of Smartsheet to affiliates of investment funds managed by affiliates of Blackstone Inc. (collectively “Blackstone”), investment funds managed by Vista Equity Partners Management, LLC (“Vista Equity Partners” or “Vista”), and Platinum Falcon ...

Core Viewpoint - A class action lawsuit has been filed against Smartsheet Inc. regarding allegations of securities fraud and unlawful business practices related to a recent merger [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Smartsheet and certain officers and directors engaged in securities fraud during the solicitation of stockholder approval for a merger with investment funds managed by Blackstone, Vista Equity Partners, and others [4][5]. - Investors have until February 24, 2026, to request to be appointed as Lead Plaintiff if they purchased Smartsheet securities during the class period [2]. Group 2: Allegations Against Smartsheet - The complaint alleges that Smartsheet issued a misleading Schedule 14A Proxy statement to the U.S. Securities and Exchange Commission, mischaracterizing the company's financial performance to solicit approval for the merger [5]. - The Proxy allegedly presented the company's quarterly earnings negatively and emphasized a financial metric created specifically for the merger approval process [5]. Group 3: Financial Implications - The merger consideration was set at $56.50 per share, which was within the range of a discounted cash flow analysis but below several analyst price targets that had been raised following the company's successes in early 2024 [6].

Core Insights - The U.S. private equity market has demonstrated resilience with a significant increase in deal activity during Q3 2025, despite previous uncertainties and volatility [1] Deal Activity - The deal value in the U.S. private equity market reached $331 billion, marking a 28% increase from the previous quarter and a 38% rise year-over-year, according to a HarbourVest report [2] - The deal count increased by 3.7% from Q2 and nearly 12% from Q3 2024 [2] Financing Conditions - Interest rate cuts in September and October have contributed to reduced acquisition costs, acting as a significant tailwind for deal activity [2] Valuations and Exits - Private equity managers have maintained discipline on valuations, with the average U.S. EV/EBITDA buyout multiple decreasing to 12x from 12.8x in 2024, aligning closer to pre-pandemic levels [3] - Exit values dropped 41% in Q3 compared to Q1, totaling $126 billion, although U.S. exit values for the year had already surpassed the full-year total for 2024 by the end of Q3 [3] Market Confidence - The confidence in the U.S. private equity market is reflected in the synchronized rally of major firms like KKR, Apollo Global Management, and Blackstone, ahead of anticipated Fed rate cuts [4] - A strong performance in the stock market has also indicated investor confidence in the U.S. market [4] Shareholder Returns and Failures - Partners Group Private Equity is preparing for one of its largest shareholder-return programs in years, driven by successful exits [5] - However, the trend of continuation vehicles (CVs) has faced setbacks, with major financial institutions expected to incur a combined loss of $1.4 billion on an investment in a portable toilet rental company [5] Landmark Deals and Investments - Notable deals, such as the $55 billion take-private of Electronic Arts by a global investor consortium, underscore the market's size and investor conviction [6] - There is an acceleration in infrastructure investments, particularly in digital assets and energy transition projects, attracting substantial private capital [6] Future Outlook - The U.S. private equity market is anticipated to see accelerating deal-making in 2026, with private credit emerging as a core financing source and strong capital inflows into infrastructure [7] - Liquidity is expected to be a key theme for private markets in 2026, transitioning from short-term stress to long-term structural changes [8] - Investors are likely to focus on scalable, differentiated AI platforms, while new investment vehicles will broaden access to private markets for a wider range of investors [8]

Group 1: Policy Changes and Economic Impact - Trump's administration is reshaping the flow of capital in the U.S. economy through aggressive policy changes, including deregulation of banks and a shift in funding from renewable energy to traditional sectors [1][3] - The "Big Beautiful" bill and subsequent regulatory adjustments signal a redirection of funds away from renewable energy projects towards pipelines, cryptocurrencies, and traditional finance [3] - The relaxation of capital rules for banks is expected to release up to $219 billion in capital for major banks, allowing them to invest more in government-backed assets [4] Group 2: Housing Market and Privatization - A controversial proposal aims to end government control over Fannie Mae and Freddie Mac, leading to significant stock price increases for these entities [6] - The privatization discussions are complicated by the Treasury's $360 billion preferred equity stake in these companies, raising concerns about potential increases in borrowing costs for consumers [8] Group 3: Cryptocurrency and Digital Assets - The Trump administration's new stance on digital assets includes the signing of the GENIUS Act, which provides a legal framework for stablecoins, potentially expanding the market from $310 billion to $4 trillion by 2030 [9] - Major banks, including JPMorgan, are actively entering the stablecoin market, while concerns arise about the potential outflow of deposits from small banks to stablecoins [9] Group 4: Energy Sector Changes - The "Big Beautiful" bill has led to the cancellation or postponement of $29.3 billion worth of clean energy projects, as the administration shifts focus towards fossil fuels and nuclear energy [10] - Companies in the clean energy sector are facing significant challenges, including layoffs and project cancellations, as federal support for renewable energy diminishes [10] Group 5: Retirement Savings and Alternative Investments - A new executive order aims to unlock $13 trillion in retirement savings by encouraging investment in alternative assets, which could significantly benefit the private equity sector [11] - This shift may lead to increased access for ordinary investors to financial products previously limited to seasoned investors, despite warnings about potential risks [11]

Core Viewpoint - Legence Corp. is conducting a secondary underwritten public offering of 7,000,000 shares of its Class A common stock, with an additional option for underwriters to purchase up to 1,050,000 shares [1] Company Overview - Legence is a leading provider of engineering, consulting, installation, and maintenance services for mission-critical systems in buildings, specializing in HVAC, process piping, and other mechanical, electrical, and plumbing (MEP) systems [5] - The company enhances energy efficiency, reliability, and sustainability in both new and existing facilities, serving over 60% of the Nasdaq-100 Index among its clients [5] Offering Details - The offering will not involve Legence selling any shares or receiving proceeds; instead, it is solely for the selling stockholders affiliated with Blackstone Inc. [2] - Goldman Sachs & Co. LLC and Jefferies are the joint lead book-running managers for the offering, with Blackstone Capital Markets acting as a co-manager [2] - The shares are being offered under a Registration Statement filed with the SEC on December 9, 2025, which has not yet become effective [4]

Financial Performance - Net investment income (NII) per share was $0.82, exceeding the $0.77 quarterly dividend[2] - The company declared a fourth quarter 2025 dividend of $0.77 per share[3] - The annualized net investment income return was 12.0%[11] - The dividend yield was 11.3% based on NAV[11] - Dividend coverage was 106%[11] Portfolio Composition and Investment Activity - 97.5% of the portfolio is first lien, senior secured debt[11] - Non-accrual debt investments represent 0.1% of total investments[11] - New investment commitments totaled $1.3 billion at par, with $1.0 billion funded[15] - The fair value of investments was approximately $13.8 billion as of September 30, 2025[6] Liquidity and Capital Structure - The company has $2.5 billion of liquidity in unrestricted cash and undrawn debt[15] - The total all-in cost of debt was 5.04% in 3Q 2025[15]

Core Viewpoint - Lone Star Funds is in advanced discussions to acquire Hillenbrand Inc., a manufacturer of plastic parts and equipment, with a potential announcement expected soon [1][2]. Group 1: Acquisition Details - Lone Star Funds is reportedly close to finalizing a purchase of Hillenbrand, which is based in Batesville, Indiana, with shares closing at $26.49, giving the company a market value of approximately $1.87 billion [1][2]. - The acquisition discussions are ongoing and may face delays or complications, as indicated by sources familiar with the matter [2]. Group 2: Company Background - Hillenbrand specializes in producing plastic parts and equipment for various industries, including automotive, packaging, construction, and electronics, with notable clients such as Dow Inc. and General Mills Inc. [2]. - In recent years, Hillenbrand has focused on restructuring its portfolio to become a pure-play industrials company, which included selling its Batesville casket business in 2023 and acquiring Schenck Process Food and Performance Materials for approximately $730 million [3]. Group 3: Lone Star Funds Overview - Founded in the 1990s, Lone Star Funds operates globally in private equity, credit, and real estate, managing around $95 billion in assets [4].

Financial Performance - Blackstone Secured Lending Fund reported a strong quarter with net investment income per share of $083[2] - The company's dividend is well-covered, with a coverage ratio of 108%[2,11] - The annualized net investment income return is 121%[11] - The company declared a second quarter 2025 dividend of $077 per share[3] Portfolio Composition and Risk Management - The portfolio is primarily composed of first lien senior secured debt, representing 982% of the investments[2,11,25] - The average loan-to-value ratio is 474%[2,11,25] - Non-accrual debt investments are minimal, accounting for only 03% of the portfolio[2,11,13] - Floating rate debt investments represent 988% of the portfolio[13,26] Funding and Liquidity - The company has approximately $128 billion in investments at fair value[6,26] - Available liquidity is $34 billion, providing material capacity[52]

Group 1 - The Cash Flow Kingdom Income Portfolio aims to achieve an overall yield in the range of 7% to 10% by combining various income streams for a steady payout [1] - Blackstone Inc. (NYSE: BX) has experienced a significant pullback in its share price over the past few months, despite improvements in profitability and healthy operational growth [1] - The portfolio's price may fluctuate, but the income stream remains consistent, indicating a focus on stability in income generation [1] Group 2 - The Cash Flow Club, which includes contributions from analysts focusing on company cash flows and access to capital, offers features such as a personal income portfolio targeting yields over 6%, community chat, and a "Best Opportunities" List [1]