Good morning and TGIF! Today our Luis Garcia reports on EIG's accelerated investment activity in the energy sector and its focus on MidOcean Energy as the company pursues a Gulf Coast LNG terminal development with Energy Transfer that's expected to cost around $13 billion.

Next our colleague Brian Gormley reports on the rising rate of M&A involving healthcare technology companies, which boomed during this year's first half.

We have those and many more deals, exits, fundraisings, people moves and other news for you below, so please scroll on down...

Private fund manager EIG Global Energy Partners has been investing at a fast pace across the energy industry while making a particular effort to expand MidOcean Energy, its liquefied natural gas business, including a multibillion-dollar commitment to a Gulf Coast LNG project, its first in the U.S., WSJ Pro's Luis Garcia reports. Washington-based EIG has made 51 deals with a total value of $36 billion during the past four years, according to Blair Thomas, chairman and chief executive. Now the firm is focusing much of its attention on MidOcean and its participation in the $13 billion Gulf Coast LNG project with Energy Transfer.

Healthcare-technology mergers and acquisitions are rising, delivering liquidity to venture capitalists and consolidating an industry that swelled during the pandemic investment boom, WSJ Pro’s Brian Gormley reports. Globally, there were 102 healthtech M&A deals in the first half of this year, nearly as many as the 112 in all of last year or the 109 in 2023, according to market tracker PitchBook Data.

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Sixth Street Partners and billionaire investor Dean Metropoulos have agreed to buy into the National Football League's New England Patriots franchise at a valuation of more than $9 billion, CNBC and Sportico report, citing people familiar with the deal, which needs league approval. Robert Kraft acquired the team in 1994 for about $172 million and he and his family will retain a more than 90% interest in the organization. CNBC said Sixth Street, which also has invested in the Boston Celtics basketball team and the San Francisco Giants baseball club, would get a roughly 3% stake in the Patriots while Metropoulos, whose family-run investment company owns major consumer brands such as Morton salt and Pabst beer, would get about 5%.

Singapore sovereign-investment fund GIC joined with Norges Bank Investment Management and Dutch pension investor APG to pledge as much as €9.5 billion, or roughly $11.15 billion, in equity funding for the German power grid operated by TenneT, based in the Netherlands. The commitments will be paid out partly at closing and then over ensuing years. The investors will obtain a 46% interest in the assets at a valuation of about  €40 billion.

Industrial investor Aker in Norway led a​​ $1.1 billion growth investment in technology services provider Nscale, joined by existing backers including Sandton Capital. Blue Owl Capital and Fidelity Management & Research were also among the participants. The U.K. company operates data centers and offers related services to clients worldwide.

Thomas Tull’s US Innovative Technology in Pittsburgh led a $250 million growth investment in software developer Modular, joined by DFJ Growth and General Catalyst, among others. The transaction valued the artificial intelligence-focused startup at $1.6 billion, or roughly triple its value in the previous investment round.

Insight Partners led a $100 million growth investment in software developer Inspiren, legally named All Inspire Health, which develops applications used to manage nursing homes and other organizations supplying residential quarters for older people. The New York company offered its first all-in-one package for senior living companies earlier this year.

Healthcare investors RA Capital Management and Forbion led a $95 million growth investment in therapeutics developer Sparrow Pharmaceuticals, joined by existing investors including OrbiMed. The Portland, Ore., company is developing treatments for certain types of diabetes.

Left Lane Capital joined a $92 million growth investment in software maker WeTravel led by Sapphire Ventures. The San Francisco company supplies programs to travel agencies and other businesses involved in arranging multiday journeys and events.

Growth investor JMI Equity is backing software company EdSights with an $80 million investment. New York-based EdSights works with more than 250 public and private universities to implement applications designed to encourage student engagement and persistence as a way of reducing dropout rates and improving learning outcomes.

New Enterprise Associates joined several other firms including Sequoia Capital in a $50 million growth investment in software company Factory at a $300 million valuation. The San Francisco business builds artificial intelligence-powered agents used in developing software.

Energy-focused Canadian private-equity fund manager ARC Financial has offered to acquire shares of OTC-listed STEP Energy Services that it doesn't already own. ARC holds about 55% of the Calgary, Alberta, company's equity. STEP shares jumped 27% to close at 5.41 Canadian dollars a share Thursday in Toronto, equivalent to $3.88.

Healthcare-focused Archimed has acquired majority stakes in biologic therapeutics businesses ExcellGene and Magellan Biologics & Consulting, according to an emailed news release. The two businesses were co-founded by Florian and Maria Wurm and provide manufacturing and other services.

Midmarket firm Emerald Lake Capital Management has backed CORE Transformers, a Seneca, S.C.-based provider of new and reconditioned transformers and repair services for customers in the renewable energy, data-center and other commercial or industrial end markets.

Travel- and leisure-focused investment firm KSL Capital Partners is buying the Westin Hilton Head Island Resort & Spa through the firm’s tactical opportunities strategy, which supports transactions that fall outside of KSL’s traditional equity and credit funds.

Technology investor Theatre Capital and Trajectory Capital Management, a technology fund, have acquired key assets of Association Analytics, a maker of data analytics. They plan to work with Association Analytics leader Alex DeBarr to expand the newly named A2 Holdco

Backcast Partners is joining Turnspire Capital Partners in supporting the growth of Daniel Measurement and Control, providing capital to help the Houston company expand. Backcast previously supported the company when it was acquired by Turnspire in 2021.

Shore Capital Partners has made a growth investment in climate control and plumbing services provider Comfort Temp in Gainesville, Fla.

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

Carlyle Group and Nomura Capital Partners unloaded their stakes in Orion Breweries as the beer producer listed its shares in Tokyo, Jason Chau reports for Dow Jones Newswires. The company's initial public offering of 31.7 million shares priced at ¥850 and raised close to ¥27 billion, or $181 million. Carlyle and Nomura acquired the brewer and soft-drink maker in 2019, by which time it had expanded into the hospitality and tourism industry.

Francisco Partners-backed software company Kyruus is being acquired by Frazier Healthcare company RevSpring. Boston-based Kyruus develops data-management systems used by healthcare providers. Francisco invested in Kyruus in 2020.

Partners Group and insurance and annuities provider Lincoln Financial have set up Lincoln Partners Group Royalty Fund, an evergreen vehicle to provide U.S. individual investor access to Partners investments in royalties across sectors including music, pharmaceuticals, media and energy transition. A Lincoln unit will manage distribution of the fund, including through financial advisers.

Stonepeak aims to raise $4 billion for its second Asia-focused  investment fund, Reuters reported, citing a source with direct knowledge of the New York firm's plans and confirming an Ion Analytics report in May. The amount would make Stonepeak Asia Infrastructure Fund II significantly larger than its predecessor, which closed on $3.3 billion early last year. Reuters said the firm aims to reach $1 billion for the vehicle by a first close expected this month. In August, the firm invested $1.3 billion in Singapore-based data-center developer Princeton Digital Group.

Razor’s Edge, a growth investment firm focused on national security technology deals, has raised $560 million for its fourth fund, surpassing the firm’s $400 million target. The new fund also exceeded the $340 million that the Reston, Va.-based firm raised for a predecessor vehicle in 2022.

Growth and venture investment firm Touring Capital has closed on $330 million for its first commingled fund. The firm was established in 2023 by Nagraj Kashyap, Priya Saiprasad and Samir Kumar. Based in San Francisco, Touring is focused on early-stage software companies.

Advent International has appointed Christine Dagousset as an operating partner to work with companies it backs and help expand the Boston firm's consumer and luxury segment. A longtime beauty and luxury executive, she was most recently with Chanel.

Growth capital investor BGF in London has added Tracy Bownes as head of value creation and made her a member of its investment committee. She joins from LDC, a unit of Lloyds Banking Group.

The Securities and Exchange Commission said two men who bought well-known retailers, including RadioShack, Modell’s Sporting Goods and Pier 1 Imports out of bankruptcy, ran a Ponzi scheme that raised about $112 million from investors through fraudulent means, WSJ Pro's Alexander Gladstone reports. Retail Ecommerce Ventures, a Miami Beach-based holding company founded by Taino Lopez and Alexander Mehr, acquired at least eight consumer-facing operations, usually purchasing them out of bankruptcy to convert them into online-only stores, according to an SEC complaint filed Tuesday in a Florida federal court.

Blue Owl Capital and sovereign-wealth investor Qatar Investment Authority have agreed to a partnership to support hyperscale data centers. QIA is backing the initiative with more than $3 billion of data-center assets. Blue Owl’s digital infrastructure investment strategy has raised $39 billion of capital as of June 30 and invested in 104 facilities across 28 global markets

Goldman Sachs-backed Petershill Partners plans to delist its shares from the London Stock Exchange after struggling to attract investor interest, Joe Wallace reports for The Wall Street Journal. Goldman listed the firm, which invests in private-equity firms and other fund sponsors, in 2021. Petershill said it plans to buy back shares from investors for £3.09 each, or $4.15, totaling $921 million in a transaction that values the business at about $4.5 billion. Goldman alternatives funds own about 80% of Petershill's equity.

The Managed Funds Association, a private-markets industry trade group, is urging federal policymakers to adopt five principles to help lower legal uncertainties around investments in private equity and credit through 401(k) and similar retirement savings plans. The objective is to encourage innovation by plan administrators while protecting participants, according to the group. The principles call for providing a wide variety of investment options, ensuring neutrality in regulations, evaluating costs based on particular plan characteristics, addressing overzealous litigation and recognizing the importance of professional investment managers.

Oakley Capital in London has established a European insurance services operation, backing it through the firm's fifth flagship fund. Called Tiger HoldCo, the specialty insurance services provider is led by Enrico Vanin as chief executive and is focused on southern Europe. Vanin was most recently with Aon.

Brookfield Asset Management's flagship listed private-equity vehicle Brookfield Business Partners plans to simplify its structure and become a listed Canadian corporation in an effort to broaden its investor base and make it easier to trade the shares, Robb M. Stewart reports for Dow Jones Newswires. The move would combine Brookfield Business Partners LP with Brookfield Business Corp. Both are listed in New York and Toronto, where majority owner Brookfield Corp. is based.

More than 90% of fund-of-funds professionals say delayed and unstructured data from general partners of underlying funds impair investment decisions or their reporting to their own investors, according to a survey of 100 senior investment professionals conducted for private-markets data provider Accelex and software supplier Carta. Along with delayed reports and irregular formats, inaccuracies in data provided by fund managers was cited as an impairment by 40% of survey participants.

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Maria Armental; Ted Bunker; Chris Cumming; Luis Garcia; Laura Kreutzer; Isaac Taylor; Chitra Vemuri.

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