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Citigroup has hired Drago Rajkovic, a seasoned dealmaker with over 30 years of advisory experience, as co-head of global M&A, according to an internal memo seen by Reuters. Rajkovic joins from JPMorgan, where he most recently served as Global Chairman of M&A.At Citi, Rajkovic will co-lead the M&A division alongside Kevin Cox, beginning this September,...

According to PwC’s midyear 2025 report, private equity (PE) firms are holding an estimated $1 trillion in unrealized assets, capital that—under normal market conditions—would have already been returned to limited partners (LPs). But high interest rates, persistent tariff uncertainty, and geopolitical volatility have delayed exits and stalled global M&A activity.“In a typical M&A cycle, $1...

Munich-based defense tech start-up Helsing has raised €600 million ($693 million) in its latest funding round, boosting its valuation to $12 billion, according to the Financial Times.The round was led by Prima Materia, the investment firm co-founded by Spotify’s Daniel Ek and early tech investor Shakil Khan — both of whom doubled down on their...

Global IPO activity has slowed sharply in 2025, with total proceeds down 9.3% YoY to $44.3 billion, the lowest level in nearly a decade, according to LSEG data as of June 17. The downturn reflects the heavy drag of rising geopolitical risk, renewed U.S. tariffs, volatile equity markets, and higher interest rates.Regional Highlights:🇺🇸 U.S. IPO...

According to the Financial Times, hedge fund giant Millennium Management is in discussions to sell a 10%–15% minority stake in its management company, in a deal that would value the firm at $14 billion.The company is reportedly working with Goldman Sachs’ Petershill Partners to identify potential buyers. Both Millennium and Petershill declined to comment on...