The start of the year has seen the market pick up from where it left off in December, shrugging off macro and geopolitical concerns to stage an impressive equity rally as investors remain confident central banks will cut rates this year. Technology in particular has turbocharged this rally as excitement continues to build surrounding the potential transformative impacts of AI which has led to the Magnificent 7 leading from the front as the S&P 500 reached all-time highs at the start of the year. Taking a step back, there are still several macro questions lingering from the end of the year that are yet to be resolved, namely if/when central banks will begin to cut rates after a series of rapid hikes in 2023. After the late rally in rates towards the end of 2023, investors have pared back expectations as to how aggressively central banks will cut rates this year, and as a result sovereign bonds have experienced modest negative returns since the start of the year due to the repricing of duration. Even so, the consensus remains that the Federal Reserve (“Fed”), European Central Bank (“ECB”) and Bank of England (“BoE”) are likely to cut rates later this year, although there is less clarity with regards to the pace of these cuts.
Montagu raises €2 billion continuation vehicle to support Wireless Logic’s next phase of global growth
CVC Credit supports the acquisition of Rentokil Workwear France by H.I.G. Capital
CVC announces sale of majority of CVC Capital Partners VII’s stake in Tipico to Banijay Group
CVC DIF and Jersey Telecom to acquire Manx Telecom Group, the integrated incumbent digital-infrastructure platform on the Isle of Man
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CVC DIF to divest Portuguese highway concessions Norte Litoral and Algarve to Igneo Infrastructure Partners
CVC DIF to acquire CARMA Corp., a leading Canadian submetering and essential building services platform