Private equity’s new AI overlords?

Michael Dell’s family office and a new holding company have outperformed major private equity giants to take an insurance broker private. Simultaneously, the white-shoe law firm Sullivan & Cromwell is aggressively expanding its private equity capabilities. The firm has hired a team of partners from Kirkland to drive this push, moving away from its previous strategy of avoiding buyout groups, a sector that has historically fuelled rapid growth for its primary legal competitors.