Your Daily Private Equity Briefing

CVC Nears €1.8 Billion Merger of Panzani with Cerealis

• CVC Capital Partners is reportedly close to a €1.8 billion merger of its French pasta producer Panzani with Portuguese food company Cerealis, including debt. This transaction aims to create a consolidated European food group, with CVC retaining a minority stake in the new entity, highlighting ongoing consolidation in the European packaged food sector for operational scale and geographic reach.

  Investing

• In a notable move to democratize private capital, Bpifrance has successfully raised €150 million for its defense fund from over 10,000 individual investors in under a year. Launched in October 2025, this private equity vehicle allows savers to invest from €500, with approximately 60% of subscribers reportedly drawn by the defense theme itself rather than the asset class, signaling a growing interest in thematic investments among retail investors.

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• UPDATE: OrbiMed, a leading global healthcare investment firm, announced on October 15, 2026, that it has raised $3 billion across two new private equity funds. OrbiMed Private Investments X secured over $1.9 billion for U.S. and European life sciences venture capital, while OrbiMed Asia Partners VI raised over $1 billion for healthcare growth equity and venture capital across Asia.

  Dealroom CoOrbimed

• Thoma Bravo-backed cybersecurity firm Proofpoint has agreed to acquire data security company Varonis Systems in an all-cash transaction valued at approximately $6.3 billion. This significant deal underscores continued private equity involvement in driving consolidation within the cybersecurity sector.

  OrbimedPrivateequitywire