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New details have emerged around Novotech’s mystery New York suitor.

Street Talk understands Kohlberg & Company, a buyout firm founded in 1987 by Jerome Kohlberg Jr and James Kohlberg, is working closely with Alvarez & Marsal’s corporate advisory team.

A&M pillaged rival consulting firms’ ranks since it planted a flag on Australian shores in late 2022, but this is the first time we’ve seen them pop up on a major private equity process. The firm, best known for restructuring the bankrupt investment bank Lehman Brothers during the global financial crisis, sought a role on Healthscope earlier this year.

• Quadrant Private Equity sets lofty target for third growth fund
• TCorp tips $US150 million-plus into maritime operator Cyan Renewables
• Peter Lee reveals the most loved analysts and traders of the year
• High-profile Perth fund manager freezes redemptions
• Di Pilla’s HMC out of race for Neoen‘s Victorian portfolio
• Platinum’s suitors lurk ahead of testy AGM
• Alvarez & Marsal lands advisory role on $4 billion Novotech sale
• Wilsons healthcare analyst jumps to Barrenjoey

• Freehills plans merger with 120-partner New York firm
• Brookfield’s Healthscope secures extension on $1.6 billion debt
• Labor spends $80 million to keep failing Rex afloat
• US mining legend Robert Friedland plots ASX listing

Street Talk can reveal TCorp has agreed terms to acquire a $US100 million-plus ($152 million) minority stake in Cyan Renewables, a PE-owned business that provides maritime services to fisheries and the offshore wind industry.

Declines in iron ore, gold, and oil prices dragged the sharemarket lower for a second day to exacerbate the ongoing sell-down in commodities.

Click here for the latest equity market wrap.