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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

Authentic Brands Group, after buying Reebok, raises $3.5 billion

Illustration: Eniola Odetunde/Axios

Brand management firm Authentic Brands Group on Monday announced that a group led by private equity firms CVC Capital Partners and HPS Investment Partners acquired a significant ownership stake at an enterprise value of $12.7 billion.

Why it matters: The lofty price tag and the deal's structure are a departure from the kind of traditional leveraged buyouts that have been prevalent in the retail sector.

55 mins ago - World

U.S. will give Russians written response to NATO demands, Blinken says

Blinken and Lavrov shake hands in Geneva. Photo: Russian Foreign Ministry / Handout/Anadolu Agency via Getty Images

Secretary of State Antony Blinken confirmed after a meeting with his Russian counterpart on Friday that the U.S. will provide written answers to Russia's security demands next week.

Why it matters: Russia claims to be waiting for "concrete answers" to its demands that NATO rule out further expansion and roll back its presence in eastern Europe before deciding its next steps on Ukraine. But the U.S. and NATO have called those proposals "non-starters," and Friday's meeting offered no breakthroughs, so it's unclear how written answers might change the equation.

More surprises await scientists at Antarctica's "Doomsday Glacier"

Cliffs along the edge of the Thwaites Ice Shelf in West Antarctica. Photo: James Yungel/NASA

Researchers like David Holland, an atmospheric scientist at New York University, are in a race to understand the fate of a massive glacier in West Antarctica that has earned a disquieting nickname: "The Doomsday Glacier."

Why it matters: Studies show the Thwaites Glacier (its official name) could already be on an irreversible course to melt during the next several decades to centuries, freeing up enough inland ice to raise global sea levels by at least several feet.