Maria Armental

New York

Reporter at The Wall Street Journal

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Articles

Tariff Upheaval Threatens Private Equity’s Exit Recovery Hopes

1 week ago | wsj.com | Maria Armental |Laura Kreutzer

U.S. private-equity exits and their total value rose in the first quarter compared with a year ago, but recent market volatility puts that momentum at riskApril 14, 2025 12:01 am ET|WSJ ProWild stock-market swings related to tariffs threaten to upend private equity’s plans to exit from investments as the industry sits on a backlog of more than 12,000 U.S. companies, including about 3,800 that have been held for five to 12 years, according to research firm PitchBook Data.
Clear Haven Capital Backs $400 Million Loan Deal for Fertility Payment Company

3 weeks ago | wsj.com | Maria Armental

Future Family focuses on addressing fertility treatment costs, the biggest pain point for those looking to start a familyApril 3, 2025 6:30 am ET|WSJ ProCredit investor Clear Haven Capital Management is backing fertility financing company Future Family with $400 million to support loans for those looking to start a family.
Franchise Equity Looking for Next Bet in Sports Franchising

3 weeks ago | wsj.com | Maria Armental

A side hustle of owning a collection of Jersey Mike’s Subs shops while at Goldman Sachs has turned into a second act of broader franchise investing for veteran dealmaker Mike Esposito. His Franchise Equity Partners is now looking to move into the world of sports as it expands its portfolio of franchises.
Small Investor Group Scores 88-Fold Return in Poppi Sale

1 month ago | wsj.com | Maria Armental

The $1.95 billion sale of prebiotic soda brand Poppi to soft drink and snack foods giant PepsiCo will pay off in a big way for a group of consumer packaged goods investors. The Angel Group—a syndicate of sector operators, investors and consultants—scored a return of 88 times the $105,000 it invested in Poppi in 2020 at a $22 million valuation, said founding member Adam Spriggs.
Exclusive | New Water Capital Buys Family-Owned Dutch Gold Honey

1 month ago | wsj.com | Maria Armental

Private-equity firm New Water Capital is acquiring Dutch Gold Honey and related businesses from the Gamber family that founded the company nearly 80 years ago. Boca Raton, Fla.-based New Water is acquiring the Dutch Gold Honey and McLure’s Honey & Maple Products businesses as well as Gamber Container packaging and a trucking line operating as DGH Logistics.
Exclusive | GCM Grosvenor Raises Nearly $800 Million Fund to Back Emerging Managers

Jan 23, 2025 | wsj.com | Maria Armental |Joel Angel Juárez

GCM Grosvenor’s Elevate strategy has raised nearly $800 million to back emerging and diverse managers, helping a next generation of firm founders while providing investors opportunities to invest in the middle market, an emerging manager sweet spot. The final tally for GCM Grosvenor Elevate Fund I includes a $500 million anchor commitment from the California Public Employees’ Retirement System, one of the nation’s largest state pension funds, that was announced two years ago.
Exclusive | Valspring Looks to Address Healthcare Gaps With $255 Million Debut Fund

Jan 9, 2025 | wsj.com | Maria Armental

Healthcare-focused firm Valspring Capital has wrapped up its $255 million debut fund at a challenging time for the nation’s fragmented healthcare industry, a fact not lost on the firm’s managing partner, Yumin Choi. “We’re coming to a point in time where everything is coming to a head—it’s unsustainable,” said Choi, a former partner at Bain Capital Ventures, who founded Valspring in 2022 with Amy Sievert and Amanda Zajac, now head of portfolio and senior principal, respectively.
Dealmakers Say Election Results Present Both Clarity and Uncertainty

Nov 19, 2024 | wsj.com | Maria Armental

The U.S. presidential election removed a layer of uncertainty for private-equity dealmakers, but it has added a few others, including questions about the trajectory of interest rates, panelists at an industry conference said last week. “If the election went the other way…we expected a flurry of [deal] activity” before the end of the year, ahead of projected tax changes, StepStone Group partner Michael Elio said at the SuperReturn North America conference in New York.
Private Equity Gears Up for Deals to Take Off

Nov 11, 2024 | wsj.com | Maria Armental

The private-equity industry is gearing up for a boom in dealmaking, betting on tax cuts and regulatory easing to spur buyers and sellers while unleashing fundraising. Private-equity executives are bullishly deploying swelling cash piles, as the industry moves out of a deal slump that for years soured fundraising and cash distributions to fund investors.
TPG Sees Opportunity for More Bespoke Deals Like the DirecTV, Dish Merger

Nov 4, 2024 | wsj.com | Maria Armental

TPG wants to capitalize on companies that are overly saddled with expensive debt, what Chief Executive Jon Winkelried called “a three- to four-year opportunity in front of us” during a recent quarterly earnings call.