The separately managed account is being distributed through Morgan Stanley's wealth platform and combines exposure to private equity, private credit, and real assets in a single structure. According to the firms, this is the first US product that allows private-wealth clients to invest across multiple private-asset classes through one account. Investors can choose between three portfolio options based on risk appetite, ranging from income-oriented to growth-focused strategies. The account allocates capital to seven existing funds managed by BlackRock, its credit arm HPS Investment Partners, and Partners Group. Fees will be charged on the underlying funds, but not at the account level. Jon Diorio, BlackRock's head of alternatives for its US wealth business, said the structure offers a 'holistic private markets solution for financial advisors to help their clients access the broader opportunity set and achieve better portfolios outcomes.' 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....

Last year, the company's profit fell 45% compared with 2024, driven in large part by falling sales of its electric vehicles. Investors anticipated the decline in sales, but Tesla still beat Wall Street earnings and revenue estimates thanks to its energy storage business. Big, stationary batteries like the Megapack and Powerwall, along with solar installations, now drive nearly a quarter of Tesla's gross profit. Last quarter alone, the Megapack contributed $1.1 billion of the storage business' $3.8 billion in gross profit for the entire year. Storage and energy generation revenues were up 26.5% to $12.8 billion. Large energy storage projects, like those installed for utilities or data centers, tend to be milestone-based, and revenue from the projects is recognized when certain milestones are achieved. In its 10-K filing with the SEC, Tesla said it expects to recognize $4.96 billion this year in deferred revenue from projects already underway. That's more than double what the company recognized in deferred revenue from storage projects in 2025....

3i said Action's like-for-like sales rose 6.1% in the first four weeks of 2026 compared with the same period last year, signalling a rebound after an autumn slowdown. The update eased investor concerns over performance in France, which accounts for about one-third of Action's business. For 2025, Action delivered net sales of '16bn, or roughly $17.3bn, up 16% year on year. Earnings before interest, tax, depreciation, and amortisation rose 14% to '2.4bn, or about $2.6bn. Like-for-like sales growth outside France reached 7.2%, driven by strong performance in the Netherlands, Poland, Austria, and southern Europe. France remained the outlier, with like-for-like sales growth of 2.1% in the opening weeks of 2026, compared with 1.3% for the full year. Sales had been flat in December after declines in October and November. Action now accounts for around four-fifths of 3i's private equity portfolio and is valued by the firm at just over '35bn, or about $44bn. The retailer's scale has turned it into a proxy for 3i's share price....

Tesla's profit fell 46% in 2025 compared to the prior year, as CEO Elon Musk assumed a role in the Trump administration and federal electric vehicle subsidies were killed off by Congress, causing sales to plummet. The electric vehicle company reported Wednesday that it recorded just $3.8 billion in profit across 2025, its lowest tally in years. Total revenue from car sales fell 11% year-over-year, too. Tesla already revealed that it shipped 1.63 million cars globally across 2025. That marks the second year in a row that its sales have declined, after Musk spent years promising average annual growth of 50%. Investors largely expected the decline in sales in Tesla's fourth quarter and full-year results for 2025, and the company beat Wall Street's estimates for earnings and revenue, sending shares up in after-market trading Wednesday. It's been largely buoyed by strength in its other industries and investments, including energy capabilities and AI, as Tesla has continued to lure investors' attention away from its stalled-out automotive business....