A power line went down outside of Washington, DC, this week. Normally, the grid would only need a few seconds to recover from such an event. But this one took more than 10 minutes because more than 3 gigawatts of data centers stopped drawing power nearly simultaneously. The event caused voltage across the PJM grid to spike from Northern Virginia to Chicago, according to data collected by Ting Labs, a startup that runs an IoT sensor network out of people's electrical sockets. The event didn't cause a blackout, but it did cause lights across the region to flicker. The incident demonstrated the effect that data centers can have on the grid ' an outcome that experts believe will become more frequent. The event echoes one that happened two years ago, also on PJM's grid, and it could foreshadow larger events if data centers aren't built to more elegantly handle disruptions to power supplies. The PJM Interconnection manages grids from New Jersey to Illinois and serves 67 million customers, making it the largest grid operator in the United States....
The transaction, which values the UK-based company at around '3.5bn ($4.6bn), allows Montagu to retain control of Wireless Logic beyond the typical private equity holding period through a new secondary vehicle. The firm is rolling over most of its existing stake from a previous continuation fund, a rare 'CV-squared' structure in the secondary market. Founded in 2000, Wireless Logic provides smart connectivity solutions that enable companies to connect, control, and secure IoT devices across multiple networks. Under Montagu's ownership since 2018, the company has expanded from a UK-focused provider into a global market leader through 15 acquisitions across Europe, the Americas, and Asia-Pacific. Wireless Logic is the 'natural acquirer of choice in its space, and has used M&A to expand from being a UK leader to a European leader, and today as a global leader,' said Montagu Managing Partner Ed Shuckburgh, noting that the business continues to grow at roughly 30% per year. The continuation fund structure reflects a growing trend among buyout firms seeking to hold high-performing assets for longer amid limited exit opportunities. Earlier this year, PAI Partners completed a similar transaction for Froneri, its '15bn ice cream venture with Nestle....
We will publish a summary of our series about interpretability and announce a new, exciting series. We are going to dive deep into DeepSeek's new OCR model that is making quite a bit of noise. In the opinion section we are going to explore a crazy crazy thesis: will OpenAI launch a crypto token' This week's AI releases feel less like isolated features and more like a quiet re'wiring of the software stack around agents. OpenAI's Atlas reframes the browser as an automated workspace; Anthropic's Claude Code on the Web promotes coding agents from autocomplete to orchestrators; DeepSeek'OCR suggests a path to scaling context without brute'forcing token counts; and LangChain's new $125M round'paired with LangChain/LangGraph 1.0, an Insights Agent, and a no'code agent builder'signals that the ecosystem is standardizing the agent stack from design to deployment. Taken together, they compress the loop from goal ' plan ' act ' audit into something teams can run continuously'and cheaply'inside normal tools....
The new continuation vehicle, managed by Investcorp, was oversubscribed and anchored by Hayfin Capital Management and Coller Capital. It includes participation from ITP employees, existing LPs, and new investors. Members of HWG Sababa's management team will retain a significant stake alongside the continuation fund. Founded in 2008 and headquartered in Verona, HWG Sababa is a leading independent cybersecurity provider in Southern Europe. The company specialises in security operations for IT, IoT, and OT environments, serving clients across critical infrastructure, energy, finance, and manufacturing. Since ITP V's investment in 2022, HWG Sababa has grown revenues sixfold and completed four acquisitions, including the strategic purchase of Sababa Security in 2023. 'The creation of a dedicated continuation fund for HWG Sababa highlights the company's strong growth and our successful partnership with Enrico, Alessio, and the team,' said Gilbert Kamieniecky, Head of European Private Equity at Investcorp. 'We're pleased to partner with Hayfin and Coller Capital to support its continued growth.'...
