The London-based private equity firm has held initial talks with investment banks about the sale, which may launch in early 2026. The process is still in its preliminary stages, and no final decision has been made, the sources said. Permira, which acquired a controlling stake in Octus from Warburg Pincus in 2022 at a valuation of $1.3bn, is seeking to capitalise on a wave of investor demand for financial data assets. The sector has seen a flurry of high-value deals as global investors and technology companies race to acquire proprietary datasets to enhance their analytics and AI capabilities. Founded in 2013 by CEO Kent Collier, Octus employs journalists, analysts, and legal experts who monitor regulatory filings and court documents to deliver intelligence on corporate restructurings, distressed debt, and credit markets. Its subscription-based model generates consistent, visible revenues from more than 35,000 clients, including law firms, banks, and investment funds. A sale could deliver a strong exit for Permira at a time when private equity firms face increasing pressure to return capital to investors. The deal would follow several major data-sector transactions this year, including S&P Global's $1.8bn acquisition of With Intelligence and BlackRock's $3.4bn takeover of Preqin....

According to restructuring advisers and distressed debt investors, up to 20 mid- and large-cap French companies, most of them private equity-owned, are now on close watch due to leverage and liquidity concerns. Among the names reportedly at risk are EQT's Colisee and Cerba, Partners Group's Emeria, and Apollo's Ingenico. These companies are either actively restructuring their debt or facing pressure to do so. None of the firms involved have commented publicly. France's business insolvency rate has reached its highest level since records began in 1991, according to the Bank of France. The broader European backdrop of rising interest rates, weak cash flows, and post-Covid loan repayments is especially pronounced in France, where leveraged buyouts (LBOs) are more prevalent than in any other major European market. Since 2015, France has seen 4,675 LBOs, far exceeding Germany's 2,786 and Italy's 1,749. Private equity-backed businesses in sectors like telecoms and retail are particularly vulnerable. One high-yield investor noted that hedge funds are now stepping into positions vacated by traditional credit players, with Colisee's and Cerba's debt both trading at distressed levels. Cerba's secured bonds are at 76 cents on the euro, while unsecured bonds have plunged to 22 cents....

Among the strongest contenders are KKR, Hong Kong-based infrastructure investor CKI, hedge fund Covalis Capital, and London-based Castle Water. CKI has reportedly expressed the most serious commitment, proposing a '7bn capital injection. US infrastructure investor Stonepeak, which manages over $70bn in assets, and FitzWalter Capital, known for distressed debt investments, have also submitted proposals but are seen as less likely to proceed with firm bids. The process remains fluid, with all bids currently non-binding. FitzWalter's proposal suggests a minority equity investment in partnership with other investors rather than a full takeover. The firm also holds lower-ranking Thames Water bonds that could suffer heavy losses under the utility's '3bn loan deal with senior creditors. Covalis, another bidder, has been openly critical of how Thames Water and its adviser, Rothschild & Co, have handled the equity raise. Beyond private equity interest, Thames Water's senior bondholders, including US funds Elliott Management and Pimco, are preparing a backup creditor-led bid if the equity raise fails. Some bids may also include options for creditors to convert part of their debt into equity, potentially reshaping the company's financial structure....

The fundraising goal for Strategic Value Special Situations Fund VI was disclosed during a recent meeting of the New Jersey State Investment Council, which committed $100m to the fund. SVP declined to comment on the fundraising efforts. Founded by Victor Khosla in 2001, SVP focuses on acquiring debt from middle-market, asset-heavy companies in legacy industries. According to New Jersey SIC Chief Investment Officer Shoaib Khan, the firm's strength lies in its ability to source investments at competitive prices, particularly through direct sourcing. SVP has significantly increased its direct deal flow, with 80.5% of Fund V investments coming from banks and private credit firms, up from just 7.4% in Fund I. Fund VI is targeting a 15% internal rate of return (IRR), consistent with the performance of its last four funds. The broader distressed debt market has seen increased activity as inflation, economic uncertainty, and higher borrowing costs weigh on highly leveraged firms. Sectors such as retail, real estate, and energy are presenting growing opportunities for private equity and hedge funds focused on distressed assets....