The deal brings Equine Network into a portfolio that already includes stakes in La Liga, Ligue 1, the Women's Tennis Association, Volleyball World, Six Nations Rugby, Premiership Rugby, and the United Rugby Championship. CVC said the addition strengthens Global Sport Group's exposure to the US market while diversifying into a new sport. Founded by Tom Winsor, Equine Network has built a commercial platform spanning around 40 owned competitions and more than 800 sanctioned third-party events across Western and English disciplines. CVC estimates the US equestrian sports market at about $2.5bn. 'CVC's investment experience in sports spans over twenty years and, while much has changed in that time, sports IP remains a very attractive opportunity in which we continue to see significant potential for further innovation and growth,' said Gemma Wright, partner in CVC's sports, media and entertainment team. 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....

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....

The company said it aims to generate '1bn, or about $1.2bn, in incremental revenue over the next three fiscal years, driven by annual growth of up to 15% on a constant-currency basis. Asia-Pacific is expected to double in size, while the Americas and EMEA regions are forecast to grow at double-digit rates. Chief executive officer Oliver Reichert has emphasised disciplined growth, maintaining demand above production capacity to support pricing and avoid discounting. The group's vertically integrated manufacturing base in Germany gives it greater control than most footwear peers. Private equity firm L Catterton remains the majority shareholder, holding more than half of outstanding shares. Birkenstock also plans to repurchase $200m of stock during fiscal 2026, subject to market conditions. 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....

Chief financial officer Bret Johnsen has held talks with existing private investors since December to explore the feasibility of a listing, the newspaper said. While founder Elon Musk has historically favoured keeping SpaceX private, the company's surging valuation and the rapid growth of its Starlink satellite internet unit are understood to have shifted internal thinking. Reuters reported last week that SpaceX is lining up four Wall Street banks to lead the transaction. A successful offering would mark a landmark liquidity event for the company's private backers and employees. The move comes as US equity capital markets rebound after several subdued years, with investors bracing for a wave of large-scale listings. Artificial intelligence groups including Anthropic and OpenAI are also laying early groundwork for potential IPOs. 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....