Good morning, and welcome to the WSJ Pro Private Equity daily newsletter.

First off today, Isaac Taylor and Luis Garcia report that Carlyle Group and publicly traded Diversified Energy Co. are making a $2 billion bet on the oil-and-gas sector, a deal motivated in part by governments' increasing focus on energy technology.

Next, Maria Armental reports on a deal in which FTV Capital is joining Lightyear Capital as a backer of technology company ProfitSolv.

Now onto the news ...

Carlyle Group and natural-gas producer Diversified Energy Co. agreed to join forces to invest up to $2 billion in mature oil-and-gas fields, aiming to take advantage of governments’ emphasis on energy security and the rising demand for energy to power artificial-intelligence technology, Isaac Taylor and Luis Garcia report for WSJ Pro. The deal will make it easier for the publicly traded Diversified to acquire U.S. energy assets, and Carlyle plans to offer investors tranches of securitized notes backed by the cash flows of the assets.

FTV Capital is joining Lightyear Capital as a co-owner of ProfitSolv, a legal and accounting technology company, reports Maria Armental for WSJ Pro. The deal marks an exit for minority investor Greater Sum Ventures, and a shift for Lightyear, which explored selling the business before bringing in FTV as an equal co-owner.

WSJ Pro Private Equity is extending the deadline for our latest Survey of Secondary Market Buyers, which we use as the basis for compiling our annual special report on the latest trends shaping the secondary market. Secondary buyers can complete the survey by June 28 through this link.

Advent International made a formal offer for Spectris valuing the precision-measurement company's share capital at 3.8 billion pounds, or around $5.11 billion, Dow Jones Newswires’ Elena Vardon writes. The private-equity firm is offering 37.63 pounds in cash for each Spectris share, which includes a 28 pence interim dividend for fiscal 2025, they said on Monday.

Ares Management plans to pay about €2 billion, or about $2.3 billion, for a 20% stake in Plenitude, a renewable-energy company operating in 15 countries, with a network of charging stations for electric vehicles. The deal values the business, majority owned by Italian energy company Eni, at over €12 billion.

TSG Consumer Partners made a growth investment in Dude Wipes, a maker of flushable bath tissue. The company, formed in 2011 in Chicago, will continue to be backed by investor Mark Cuban as well as its founders and leadership, the consumer-focused firm announced.

Goldman Sachs Alternatives’ growth-equity strategy led an $80 million funding round for Conquest Planning, a financial-planning technology company. BDC Capital, Canapi Ventures, Citi Ventures, TIAA Ventures and USAA also participated in the investment, along with existing investors BNY and Portage.

Milwaukee Capital Partners bought MPP Group, a Mequon, Wis., company that provides services for pharmaceutical research and development. Concordia University Ventures also invested.

Jadwa Investment in Riyadh, Saudi Arabia, took a majority stake in Makhazen Alenaya, a beauty and personal-care retailer with 15 branches in Saudi Arabia.

Infrastructure and private-equity investor Kinterra Capital is looking to acquire 100% of the shares of Australian publicly listed company New World Resources. Kinterra already owns roughly 19% of the company’s shares and said it believes its proposal is superior to one New World entered into with rival bidder Central Asia Metals.

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

Morgan Stanley’s private-equity unit, Morgan Stanley Capital Partners, closed its eighth main fund, North Haven Capital Partners VIII, with roughly $3.2 billion. The new fund’s final tally exceeded its $2.5 billion target and the $2 billion that Morgan Stanley raised for the fund’s predecessor in 2021. So far the firm has deployed more than 17% of the new fund’s capital across three investments: property-restoration services provider American Restoration, nutritional-supplement business FoodScience and industrial and commercial boiler service and maintenance provider Thermogenics.

Greenbelt Capital Management, an Austin, Texas-based firm focused on midmarket companies that support the transition to renewable energy sources, closed its debut fund with $1 billion. Greenbelt Capital Partners III exceeded its initial $750 million target. Chris Manning, chief executive and managing partner, and Glenn Jacobson, managing partner, co-founded the firm in 2021 after working together at Trilantic North America.

BlackRock veteran James Charrington is retiring after more than 30 years with the U.S. asset manager, sister publication Financial News reports. Charrington has held several leadership positions across the $11.7 trillion group, including as head of Europe, the Middle East and Africa and as a member of its global executive committee. He will retire at year-end and will be succeeded on the BlackRock Group Limited board by Charles Prideaux, subject to regulatory approval.

Bank of New York Mellon approached Northern Trust last week to express interest in merging, the Journal reports, citing people familiar with the matter. If executed, the merger would be a monster deal for the financial-services industry. The chief executives of BNY and Northern Trust had at least one conversation, the people said, though the firms didn’t discuss a specific offer.

Bitcoin company ProCap BTC is merging with Columbus Circle Capital, a special-purpose acquisition company sponsored by investment bank Cohen & Co., in a $750 million deal whose roster of investors includes Magnetar Capital, Woodline Partners, Anson Funds, RK Capital, Arrington Capital and BSQ Capital Partners, among others.

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

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