Private equity touts its ESG cred but ups its bets on defense deals

In the same week that Afghanistan's capital, Kabul, fell into the hands of Taliban militants, ushering in a new era of regional instability, two major deals in the defense sector also hit the headlines.

On Monday, Advent International-owned British aerospace company Cobham agreed to buy Ultra Electronics, a major UK supplier of sonar equipment to the Royal Navy, for nearly £2.6 billion (about $3.5 billion). A day later came news that TransDigm—a US-based aerospace company that counts The Vanguard Group among its investors—is seeking to acquire UK aerospace defense specialist Meggitt. READ MORE