The sale marks the end of a decade-long investment for KKR, which first acquired Goodpack in 2014 through a privatisation of the then Singapore-listed group. The Lam family is understood to have retained a minority stake following that transaction. KKR had explored options to exit Goodpack since 2020 and formally put the business up for sale in October 2024. Infrastructure investor I Squared Capital was previously reported as a frontrunner, with Brookfield Asset Management and Apollo Global Management also said to have shown interest. Founded in 1980, Goodpack operates a global leasing model for reusable pallet-sized intermediate bulk containers used to transport high-value payloads by road, rail, and sea. The business serves multinational clients across industrial and logistics supply chains. A source said the buyback reflects the family's belief that Goodpack is entering a new phase of growth as global customers redesign supply chains to improve resilience, efficiency, and sustainability....

A Russian proverb I heard growing up translates to something like 'Those who recall the past will lose an eye.' Dwelling on bygone events, it suggests, is dangerous. My family of post-Soviet refugees seemed to believe it, and mostly passed down their history in loose, cinematic anecdotes. I'd piece together what their lives were like before we immigrated to Los Angeles from images of barbed-wire obstacle courses, ransacked apartments, and sudden deaths. Lore was rarely presented in a matter-of-fact way'so when I was 11, and my grandmother told me plainly that her father had died of a heart attack, I grew suspicious. When I confronted my mother about the story, she admitted what she knew of the truth: My great-grandfather had actually been declared an enemy of the state and abducted by the KGB, never to be seen again. My grandmother, to whom I was very close, had lied to me, forcing me to strong-arm my way into our family's history. Many of my immigrant friends remember similar fabrications about their relatives' lives, ostensibly made up to protect them. None feel that they were better for it. This kind of concealment is common among refugee families: There's no foolproof roadmap for determining when and how to disclose traumatic events, especially to children, and for many who leave their home country, keeping the past in the past can feel like a way of safeguarding the future. But the secrecy of a parent or grandparent can inflict its own potent wounds....

According to accounts filed in Luxembourg, the book value of Steflot S.a r.l., the family's main wealth vehicle, rose sixfold in 2024 to '1.37bn. The entity held assets worth nearly '2.2bn at the end of the year and generated profits of '202m. The surge followed the sale of some shares in a CVC buyout fund to public investors, coinciding with the IPO of a Jersey-based CVC entity in Amsterdam. Van Rappard did not sell any of his personal 6.7% stake in CVC, which was valued at about $1.2bn based on the IPO price. Founded in 2003, Steflot operates as a Luxembourg SPF structure, a regime designed to attract family offices through tax exemptions on income, capital gains, and dividends. Luxembourg has increasingly positioned itself as a hub for private equity-linked family wealth, benefiting from the growth and liquidity events of Europe's largest buyout firms. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....

Anta submitted the proposal several weeks ago and has secured financing should a transaction proceed. However, one source said discussions have stalled, and there is no certainty a deal will be agreed. The stake is held through Artemis, the investment vehicle controlled by the Pinault family, which also controls luxury group Kering. Artemis acquired the Puma holding in 2018, when Kering spun off the sportswear brand to focus exclusively on luxury. Artemis has been seeking a valuation exceeding '40 per share for its Puma stake, a person with knowledge of the talks said. Puma's shares rose as much as 9% following the Reuters report, lifting its market capitalisation to about '3.3bn, or roughly $3.9bn. The company's valuation remains down about 50% year-on-year amid falling sales and weak demand for recent product launches. Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....