M&A wrap: Monroe, Carlyle, Littlejohn, Wellfleet, Advent, Pike Street, Tailwind, Deval Patrick

As GP-led secondaries scale to record levels, top investors are flagging a widening gap between trophy assets and weaker deals, even as new financing tools like CFOs further blur the line between sale and securitization.

Estia Health is Australia’s second-largest residential aged care operator.

XTEL is a software provider focused on revenue management and trade promotion solutions for CPG companies.