Private Equity 3 Days

Last updated: May 18, 2026, 5:31 AM ET

Private Equity Roundup

Major PE Exits and Restructurings

L Catterton exited Everlane at a $100m valuation to Chinese e-commerce giant Shein, marking a significant devaluation for the one-time direct-to-consumer darling. Meanwhile, Blackstone and CD&R are eyeing take-private bids for Magnum Ice Cream Company as the listed ice cream giant trades below its IPO price. In another restructuring move, Blackstone and KKR seized control of Affordable Care through a deal that will write off approximately 70% of the company's debt, significantly reducing its leverage burden.

Healthcare and Life Sciences

Kinderhook completed a take-private acquisition of Enhabit Home Health & Hospice, with Barb Jacobsmeyer serving as president and CEO. In the life sciences sector, Blackstone, Audax, and Five Arrows are evaluating pharmaceutical and life science consulting firms for acquisition, while Eir Partners invested in Quartz Bio, a life sciences data analytics company, driven by increasing drug R&D complexity that requires sophisticated analytical solutions.

Technology and AI Investments

Investors have poured billions into companies founded by alumni of Deep Mind, reflecting the growing AI investment frenzy. Eclipse secured a $2.5B win with Cerebras, positioning itself at the center of tech's focus on physical-world applications, though Cerebras nearly collapsed years ago while burning $8M monthly developing its unconventional chips. In AI marketing, Nectar Social raised $30M Series A led by Menlo Ventures and its Anthology Fund, which was created alongside Anthropic. Additionally, Meridian Ventures launched a $35M fund targeting MBA-deferred founders building enterprise technology, while Dutch dronemaker Destinus is reportedly in €200m funding talks.

Defense and Physical World Tech

Anduril Industries led the fundraising lineup with a $5 billion financing in a week heavy with rounds for companies focused on physical-world applications. This trend extends beyond defense, as many investors show increasing interest in startups tackling problems away from digital screens, including cell-based milk suppliers and other physical-world innovations that require specialized hardware solutions.

Fundraising and New Fund Strategies

Meridian Ventures launched its $35M fund with a specific focus on MBA-deferred founders building enterprise technology, indicating a targeted approach to founder identification. The growing interest in physical-world tech is also reflected in Destinus' €200m funding discussions, as dronemakers benefit from increasing defense and commercial applications.

Legal and Regulatory Developments

A jury dismissed discrimination claims against Mercury Capital, rejecting allegations that the firm became a "safe haven for white men only" under former CEO Michael Ricciardi. In another regulatory move, Schroders transferred its wholly-owned China fund management business to Neuberger Berman, exiting the Chinese market while transferring existing products to the larger asset manager.

Market Trends and Wealth Strategies

The private equity industry is experiencing its "private wealth moment" as companies stay private longer and retail investors seek exposure to traditionally institutional asset classes. This trend coincides with growing interest in physical-world technologies, as evidenced by Anduril's $5 billion financing and other substantial deals targeting companies that bridge the gap between digital innovation and real-world applications.