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Illustration: Sarah Grillo/Axios

CVC Capital Partners agreed to buy Glendower Capital, a London-based private equity secondaries firm that manages around €8 billion in capital commitments.

Why it matters: This highlights a major consolidation push in the private equity secondaries market, with at least five announced deals so far in 2021.

Details: Glendower spun out of Deutsche Asset Management in 2017, and has been raising $3.5 billion for its fifth fund. It invests both in LP fund portfolios and GP-led transactions, and will continue to operate independently under the Glendower name.

The bottom line: CVC adds AUM and diversification that could be helpful were it to eventually follow the IPO path of British buyout peers Bridgepoint and EQT.

Go deeper

Minority-owned banks score more roles in large Wall Street deals

Illustration: Aïda Amer/Axios

Wall Street has long had a reputation for being a boys club with a diversity problem. But recently, the biggest banks have done something surprising: elevated women and minority-owned banks as partners in deals.

Why it matters: Firms owned by underrepresented groups are getting a real shot at demonstrating what they bring to the table when it comes to raising capital for blue-chip American companies.

Americans' concern about climate hits all-time highs

The flooded Major Deegan Expressway following a night of heavy rain from remnants of Hurricane Ida on Sept. 2, 2021, in New York City. Photo: Spencer Platt/Getty Images

After disaster-filled summer, a record number of Americans are concerned about global warming, according to a new poll from the Yale Program on Climate Change Communication.

Driving the news: The number of Americans who said they are “very” or “somewhat worried” about global warming has reached an all-time high of 70%, the Yale group found as part of a survey it has been conducting since 2008.

Senators to grill top Pentagon leaders over Biden's Afghanistan exit

Photo: Carolone Brehman/Pool/AFP via Getty Images

Defense Secretary Lloyd Austin, Joints Chiefs of Staff Chairman Gen. Mark Milley, and the head of U.S. Central Command, Gen. Frank McKenzie, are testifying publicly this week for the first time since the chaotic U.S. withdrawal from Afghanistan.

Why it matters: The Pentagon's top leaders have come under intense scrutiny over the series of disasters that followed the U.S. exit, including the Taliban's seizure of Kabul, the ISIS-K terrorist attack that killed 13 U.S. service members and scores of Afghans in August, and a retaliatory U.S. drone strike that killed 10 civilians.