Good morning! Today our Laura Kreutzer kicks us off with a scoop on Bessemer's second BVP Forge private-equity buyout fund, which closed at $1 billion.

Continuing on the fundraising front, our Isaac Taylor offers exclusive news regarding J.P. Morgan Asset Management, which has also collected a $1 billion fund. But this one is specifically for co-investments. 

We have these and many more stories summarized for you below so please slide on down...

Bessemer Venture Partners is doubling down on buyouts with a new $1 billion fund raised by the firm’s BVP Forge strategy, which emphasizes majority stakes in technology and services companies, WSJ Pro’s Laura Kreutzer reports. The final tally for BVP Forge II came in above the $780 million that the firm raised for a predecessor fund in 2022. The new fund attracted commitments from a diverse collection of investors including public pensions, university endowments and funds of funds.

The private-equity group of J.P. Morgan Asset Management has amassed $1 billion for its second fund focused on co-investments in small and midsize companies, WSJ Pro's Isaac Taylor reports. The final tally for PEG Co-Investment Fund II, which included capital from J.P. Morgan Asset Management’s own private-equity group, surpassed a $750 million target. It is also nearly 50% larger than its predecessor, PEG Co-Investment Fund I, which closed in 2021 with $667 million. The new offering doesn't include anticipated leverage, according to Stephen Catherwood, the global co-head of J.P. Morgan Asset Management’s private-equity group, which oversees $36 billion.

WSJ Pro is extending the deadline for nominations to our next annual Women to Watch list by one week to Nov. 26. The list, now in its tenth year, highlights the accomplishments of outstanding women in the private-equity and private-credit fields. We're accepting nominations for the next class of senior deal professionals, rising star deal professionals, as well as limited-partner or fundraising professionals through Nov. 26. Submit your nominations here.

A holding company run by Thomas Tull and Mark Walter, TWG Global, led a more than $1.5 billion growth investment in artificial intelligence computer services provider Lambda, joined by Tull's US Innovative Technology Fund and others, Belle Lin reports for CIO Journal. The deal underscores the amount of cash pouring into AI infrastructure companies as Wall Street lenders, venture capitalists and big tech giants spend hundreds of billions to build out AI data centers with advanced chips. San Jose, Calif.-based Lambda builds computer systems used to train AI systems.

A collection of unnamed investors provided $1.3 billion in fresh capital to Warburg Pincus-backed reinsurer Prismic Life Holding, which is also sponsored by life insurer Prudential Financial. The fresh capital gives the Bermuda-based provider of coverage for insurance company risks more capacity to take on more reinsurance obligations. The company previously raised $1.5 billion to support coverage of roughly $17 billion in Prudential liabilities in the U.S. and Japan. The new infusion is expected to lead to allocations of $15 billion in credit assets managed by Prudential and private-equity assets managed by Warburg Pincus.

Buyout firm Leonard Green & Partners is acquiring a 60% equity stake in the driving-range unit of Topgolf Callaway Brands at a value of about $1.1 billion, confirming an earlier Journal report. Carlsbad, Calif.-based Topgolf Callaway expects to receive net proceeds of about $770 million from the sale of its Topgolf and Toptracer business. Law firm Ropes & Gray advised Leonard Green on the deal.

Atlas SP Partners and LL Funds participated in a $400 million financing deal to support credit-focused Quantum Lending Solutions. The company works with financial institutions and online services providers to support their long-term credit offerings to smaller and midsize businesses.

Medical technology investor Revival Healthcare Capital led financing to provide $150 million in growth capital to robotics developer Distalmotion. The Lausanne, Switzerland-based company makes Dexter robotic surgery system used in outpatient procedures.

Tensile Capital Management is investing over $100 million in manufacturing business Partner Cos. The cash is expected to fuel growth in the company's operations serving industries from defense to medical technology and energy.

The alternatives investment arm of Goldman Sachs led a $100 million investment in insurance technology company Federato, investing through the bank's growth equity strategy. Other participants in the deal included StepStone Group and Emergence Capital.

General Atlantic has backed its first growth investment in a Japanese company, acquiring a minority stake in SmartHR from Coral Capital for roughly $96 million. Coral Capital retained an interest in the company as well. SmartHR offers cloud-based human resource services to companies in Japan.

Temasek Holdings in Singapore and Walden Catalyst Ventures led an $80 million growth commitment backing data center power infrastructure developer Amperesand, joined by others including SG Growth Capital. The Singapore-based company builds solid-state transformers used in power supply systems.

Long Ridge Equity Partners led a $45 million growth investment in dental office staffing company GoTu Technology, joined by the asset management arm of JPMorgan Chase & Co. The transaction was designed to back the company's nationwide expansion.

Buyout firm KKR & Co. is acquiring a majority stake in Dutch information technology services provider Techone from the Nedvest family office in Amsterdam, which has backed the company for around six years. The company serves more than 35,000 small and midsize businesses in the Netherlands.

Thoma Bravo is taking a majority stake in Azul Systems, an enterprise software company offering Java-based technology products. The company’s existing backers Vitruvian Partners and Lead Edge Capital will reinvest in Azul and retain minority stakes in the business.

Private-equity firm Integrum Holdings is backing executive search business True, which has more than $350 million in revenue. Integrum executives Ursula Burns, Jeff Livingston, Tagar Olson and Dan Rozenfeld will join True’s board of directors.

Growth investor BGF is backing mobile data company TMT ID with a $30 million commitment. The London company supplies age verification services to wireless phone network operators to check eligibility for certain services accessed through smartphones and other connected devices.

HarbourView Equity Partners, which invests in sports entertainment and media, is backing a partnership with Grammy-award winning hip-hop music artist and record producer Hit-Boy, who has concluded an 18-year publishing deal with Universal Music Publishing Group.

Nordic Capital is set to become the majority owner of protein analysis technology developer Evosep in Denmark. Nordic's growth investment is expected to help the company expand its services to biologics and life-sciences companies.

Tiger Infrastructure Partners is backing ELM Utility Services with a growth investment to help the business expand the 13 states where it currently offers locating services for buried gas and electric conduits. ELM has over 1,400 vehicles in its fleet operating mostly in Midwest and Western U.S. states.

Midmarket investor H.I.G. Capital in Miami is backing healthcare-focused financial management company GT Independence, investing alongside the founding Carmichael family. The Sturgis, Mich., company assists families in hiring and managing long-term care services.

Specialist investor CM Equity Partners is backing cybersecurity company ShorePoint, which provides services to federal agencies from its headquarters in Herndon, Va.

Private-equity firm MFG Partners is backing commercial contractor Regency Electric. The company provides services in the Denver area.

Our add-on deal interactive tool allows you to sort and analyze volumes of add-on deal data compiled by WSJ Pro. View more.

BeatBox, a maker of highly alcoholic packaged drinks whose backers include Concentric Equity Partners and family office Darco Capital, is in talks with strategic buyer Anheuser-Busch InBev, the Journal reports, citing people familiar with the matter. The deal under discussion would value the company at around $700 million, the people added.

Lumexa Imaging Holdings, whose backers include Welsh, Carson, Anderson & Stowe fund manager WCAS Management, registered for an initial public offering of shares without saying how many it plans to sell or at what price range. New York-based Welsh, Carson first invested in the medical imaging company in 2018.

Satellite maker York Space Systems, held by AE Industrial Partners since 2022, has registered for an initial public offering of shares, without specifying how much stock it plans to sell or at what price range. The Denver-based company supplies spacecraft and mission services to both government and commercial customers.

Infrastructure-focused DigitalBridge Group in Boca Raton, Fla., has closed DigitalBridge Partners III with more than $7.2 billion plus co-investment commitments totaling $4.5 billion so far from limited partners backing the fund. The total raised for the strategy, which includes investing in hyperscale data centers and artificial intelligence-enabling infrastructure, comes to $11.7 billion including general partner contributions.

Consumer-focused Monogram Capital Partners in Beverly Hills, Calif., has closed on $350 million for its third flagship vehicle, Monogram Capital Partners Fund III. The firm reached its upper limit for the fund, which brought its regulatory assets under management to about $1.75 billion. Monogram typically backs family and founder-led consumer businesses and their supply chains.

Broad Creek Capital has held a first close for BCC Multifamily Advantage Fund I, from which the Arlington, Va., firm invests in multi-family residential properties. Broad Creek has a $150 million target for the vehicle and recently reported in a regulatory filing that it raised at least $25 million for the pool.

Multi-family office Cresset Capital Management has added a wealth adviser team from Goldman Sachs, where it oversaw roughly $1.8 billion. The newly added group is led by Jamie Gilbert, Jean Wright and Max Ripans, who are joining the firm's Atlanta office and will establish a presence for the firm in the resort area around Jackson, Wyo.

Advisory firm Campbell Lutyens has brought on Hannah Gore-Randall as a managing director in its GP capital advisory practice, based in London, according to an emailed news release. She was most recently with assets manager Legal & General Group.

Regimen Equity Partners said Matthew Miller has been promoted to managing director and joined the firm’s partnership. Miller has been with the firm, which focuses on small Canadian businesses, for three years.

Britain's market regulator is looking into private markets firms as the sector comes under increased scrutiny, Justin Cash reports for sister publication Financial News in London. The Financial Conduct Authority is examining potential conflicts of interest and issues involving fair treatment of customers by asking select firms to answer questions about their business by Jan. 2, according to people familiar with the matter.

Private equity or private credit are the most likely sources of a global credit crisis, Miriam Mukuru reports for Dow Jones Newswires, citing Bank of America's fund manager survey for November. About 59% of participants in the poll pointed to private markets as likely credit crisis sources, the highest proportion since the bank began asking the question in 2022. MarketWatch's Jules Rimmer reports that the No. 1 tail risk named by survey respondents was an AI bubble, with 20% saying that hyperscale artificial intelligence companies are overinvesting in the technology.

Amundi, Europe’s largest fund management group, has acquired a 9.9% economic stake in London-listed buyout firm ICG as part of its push into the fast-growing private credit market, David Ricketts reports for sister publication Financial News in London. Amundi will be the exclusive global distributor of certain ICG products to wealthy clients, under a 10-year deal tied to the investment. Based on ICG's market capitalization, a 9.9% stake would be worth roughly £550 million, or about $723.5 million. ICG manages assets totaling about $125 billion.

East Rock Capital, a New York-based investment firm for a group of wealthy families, is backing the formation of Mirror Partners, a secondary firm focused on small deals, namely limited partnership positions with aggregate values of less than $10 million. Thomas Melly, who founded Mirror Partners in 2024, previously worked at secondary firm Kline Hill Partners.

Syndicated private-credit investments in companies with high, or investment-grade, credit ratings are expected to total $150 billion this year, surpassing last year’s record of $125 billion, WSJ Pro's Luis Garcia reports for Dow Jones Newswires, citing BlackRock. Deals range from unsecured debt to asset-based financing, but tighter pricing is developing as competition for deals rises.

The South Korean government got a 2022 order that called for the nation to pay damages of $216.5 million plus interest to Lone Star Funds annulled, Reuters reported, citing Prime Minister Kim Min-seok. The order issued by the International Centre for Settlement of Investment Disputes concerned Lone Star's sale of Korea Exchange Bank. The Texas firm had sought payment of $4.68 billion in a 2012 claim, Reuters said, and had expressed disappointment at the size of the ICSID order.

Private-equity funds in Africa have assets of about $31.9 billion and account for nearly two thirds of private markets funds on the continent, with infrastructure vehicles a distant second, according to a survey by asset servicer Ocorian.

Victor Capital Partners has acquired four security services businesses and combined them into a national holding company that offers manned guarding, alarm system and video monitoring services as well as private investigations, background checks, and supplying executive body guards.

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