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Public Markets

Last updated: July 2, 2026, 11:30 AM ET

Public Markets Roundup

Autos & Tech

Tesla sales jumped 25% in the second quarter, driven by a rebound in Europe and China, though U.S. demand was dampened by the expiration of EV tax credits. The electric automaker now focuses on autonomous vehicles and robotics, with only three models in its current lineup as deliveries climb. Separately, the National Highway Traffic Safety Administration has closed its "phantom braking" probe into Tesla vehicles after complaints dropped sharply and found no associated crashes, deeming the issue a low safety risk addressed by software updates as complaints dropped.

In the technology sector, AI-related stocks plunged globally ahead of the U.S. jobs report, with Core Weave Inc.'s junk bonds falling for a second day amid Meta Platforms Inc.'s plans for a competing cloud business as AI boom questioned. Meanwhile, Google lost an appeal against a €4.1 billion EU fine for Android, a significant victory for Brussels in its crackdown on big tech. The Nasdaq 100 Index has seen a 30% rally over three months, yet investors are betting the advance is just beginning, making call options the priciest they've been relative to the S&P 500 since 2007 as tech rally continues. Leveraged Exchange Traded Funds are being used by investors to amplify bets on AI stocks, magnifying swings in companies like SK Hynix as AI bets turbo-charged.

Labor Market & Monetary Policy

The U.S. labor market showed signs of cooling in June, with hiring slowing sharply despite a dip in the unemployment rate to 4.2% as hiring slows. Average hourly earnings remained steady, a development that provides Federal Reserve Chairman Kevin Warsh room to focus on inflation without immediate pressure from wage growth. This moderation in job creation has led traders to scale back expectations for an imminent Federal Reserve rate hike, with Treasury yields and the dollar falling in response jobs data dims hike. The U.S. economy created fewer jobs than anticipated, prompting a rally in Treasuries as investors adjusted their outlook on future Fed policy as payrolls report disappoints.

Deals & Investments

Chanel agreed to buy Charvet, the historic French shirtmaker known for its €655 ($746) shirts, in a rare acquisition for the luxury conglomerate looking to diversify beyond handbags as fashion house expands. Adani Enterprises Ltd. is seeking to raise $1 billion through a share placement to institutional investors as the ports-to-power conglomerate aims to fund its expansion. German drone maker Quantum Systems has secured $1.2 billion in new capital at an $8 billion valuation to boost drone production and invest in autonomous systems as drone maker raises funds. Comcast co-CEO Brian Roberts plans to split the integrated cable giant apart to spur growth, marking a significant strategic shift for the company.

Commodities & Energy

India is planning to expand its oil reserves and storage capacity, alongside deepening supply partnerships, to mitigate against price volatility, particularly in the wake of regional conflicts as India guards against spikes. Saudi Arabia's crude oil exports have climbed back to near pre-Iran war levels as shipments resume from within the Persian Gulf, indicating a regional supply recovery as Saudi exports surge. However, fewer gas tankers are navigating the Strait of Hormuz, suggesting potential issues for LNG buyers as Qatar's export revival falters as Qatar revival falters. France is experiencing significant agricultural damage due to record heat waves, with corn production down as much as 30% and hundreds of thousands of poultry deaths as heat waves hit crops.

Other Markets

Julius Baer Group

Private Equity

Last updated: July 2, 2026, 11:32 AM ET

Capital Formation & Fundraising

Hayfin Capital Management has secured over €15 billion ($17.1 for its latest direct lending fund, signaling a continued concentration of capital among large-scale players in the private markets Hayfin raises $17.1bn. This significant fundraising underscores the robust demand for private credit solutions, even as some institutional investors re-evaluate their exposure. In the secondaries market, BCI's global head of private equity noted that while more limited partners are participating directly in co-investments and secondaries, they remain an exception rather than the norm, suggesting traditional fundraising channels still dominate for many firms BCI seeks good returns. Meanwhile, the UK's defence industry is looking to private capital as an accelerator, with panellists at the Investment Policy Forum suggesting it can bring commercial discipline and scale, though not as a replacement for government funding Private capital accelerator.

Buyout & Investment Activity

The private equity landscape saw a flurry of deal-making across various sectors. Corten and Ampersand have acquired Beacon Intelligence, a provider of structured data on early-stage drug development, serving over 300 global clients Corten, Ampersand acquire. In the consumer space, ACON Investments is acquiring the organic candy brand Yum Earth from The Riverside Company Riverside Company sells, while Cinven is backing the merger of its portfolio company Vitamin Well with EMPWR, a nutrition bar manufacturer, in a move that brings Barebells' primary producer in-house Cinven backs merger, Cinven’s Vitamin Well merge. Peak Rock has acquired health tech firm Asembia, which also operates a specialty pharmacy conference Peak Rock scoops up.

Garnett Station is reportedly collecting first-round bids for its automotive service provider Goodturn, with potential buyers offering an EBITDA multiple of 13x-15x Garnett Station collects. In the industrial sector, Meritus Gas Partners, a portfolio company of AEA Enterprise, has acquired helium solutions firm HICO through its subsidiary Buckeye Welding Supply Meritus Gas Partners subsidiary. Main Capital-backed Uname IT has acquired Danish car dealership software provider Auto IT as part of its expansion in the automotive retail technology sector Main Capital-backed UnameIT. In technology, Nordic Capital-backed Regnology is expanding its U.S. presence with the acquisition of Fed Reporter Nordic Capital-backed Regnology.

Exits & Divestitures

The infrastructure sector saw CVC DIF exit its Polish wind energy portfolio, Klara Renewables, which comprises six operational onshore wind farms, to Actis CVC DIF exits. In aerospace and defence, Inflexion has sold its portfolio company Avantus Aerospace, a global supplier of C-Class components, to U.S. buyout firm Arcline Investment Inflexion exits. KKR is set to divest its ship leasing platform Ocean Yield, which holds interests in over 70 vessels including gas carriers, tankers, and dry bulk carriers, to AP Moller KKR agrees sell.

Sector Trends & Strategy

The artificial intelligence boom continues to influence investment, with global startup investment hitting a record $510 billion in the first half of 2026, driven by a strong second quarter that saw over $200 billion poured into startups Global Startup Investment. However, AI's impact is also upending traditional private equity targets, particularly in the software sector, where the "Saa Spocalypse" has exposed vulnerabilities and increased uncertainty for investors Deep Dive: How AI. Amid this evolving landscape, some founders are placing bets on "physical AI," suggesting a shift towards tangible AI applications two bets founders. Meanwhile, regulatory discussions are ongoing, with private capital seeking clarity from UK regulators

Sector Investment

Last updated: July 2, 2026, 11:35 AM ET

Real Estate & Infrastructure Funds

Starwood Capital has closed its thirteenth flagship real estate fund at $10.2 billion, surpassing its $10 billion fundraising target despite a challenging market. The firm cited an "attractive entry point" for real estate investments. In Australia, Centuria Capital secured approximately A$268 million in equity from a Japanese investor to acquire a 50% stake in two Sydney World Square properties. Meanwhile, India's National Investment and Infrastructure Fund is nearing the first close of its second infrastructure fund, with the Indian government contributing nearly half of the $3.5 billion target capital.