Private Equity 3 Days

Last updated: June 15, 2026, 11:30 PM ET

AI‑Focused Credit and Equity Deals

Apollo and Blackstone close $35bn private credit facility to back Anthropic’s AI‑chip rollout, underscoring private‑equity capital’s shift toward generative‑AI infrastructure. The syndicate, structured as a revolving credit line, will provide flexible funding for chip procurement and R&D, reflecting investors’ willingness to deploy large‑scale debt at sub‑6% yields amid heightened demand for compute capacity. In a parallel move, Nuvei acquires Payoneer for $2.75bn, creating a combined payments platform that targets cross‑border merchants and leverages AI‑driven fraud detection. The take‑private transaction values Payoneer at a 12.5x 2025 EBITDA multiple, signaling confidence that scale efficiencies and AI‑enhanced risk models will drive margin expansion.

Healthcare Portfolio Management

Abry launches $780m continuation fund for Centauri Health Solutions, allowing the firm to retain a top‑performing chronic‑care asset while raising capital from existing limited partners and new institutional investors. The vehicle, oversubscribed within weeks, reflects the appetite for “evergreen” structures that lock in upside in a sector where valuation multiples have risen to 13‑15x EBITDA. Meanwhile, H.I.G. Capital sells Celerion to THL Partners for $1.8bn, marking one of the largest exits for a contract‑research organization this year. The deal, priced at an 11x 2026 EBITDA estimate, provides THL with a platform to capitalize on accelerating pharma pipelines and the growing reliance on virtual clinical trials.

Consumer Brands and Debt Strategies

L Catterton‑backed Birkenstock lines up €900m bond to fund a share‑repurchase program and refinance existing debt, marking the German footwear maker’s first sovereign‑bond issuance since 2020. The 5‑year eurobond, priced at 3.2% yield, will support a buyback targeting a 4% reduction in outstanding shares, aimed at tightening earnings per share amid robust demand for sustainable footwear. In a related consumer‑focused move, Otro Capital invests in Crimson Brand Partners to manage commercial operations for Utah Athletics, injecting $45m of growth capital that will be used to expand licensing agreements and digital merchandising across the university’s athletic properties.

Mid‑Market Expansion and Add‑On Acquisitions

Littlejohn‑backed Ardurra acquires Kelly Engineers in a strategic add‑on that expands the engineering firm’s footprint in the Northeast United States. The $120m transaction, financed through a combination of cash and new debt, adds approximately $55m of annual revenue and broadens Ardurra’s service offering in renewable‑energy infrastructure. Similarly, L Catterton enters exclusive talks for a stake in Hyrox, the fast‑growing extreme‑fitness brand, where a potential minority investment of $200m could fund the rollout of new training centers across Europe and Asia, leveraging the firm’s expertise in scaling consumer‑direct concepts.

Secondary Market Activity and Fundraising

Argosy doubles fund size with $145m raise as the firm targets small‑ticket secondary deals ranging from $100k to $10m, reflecting growing demand for liquidity among lower‑middle‑market LPs. The expanded capital base will enable Argosy to pursue a broader set of vintage years, particularly in tech‑enabled services where secondary pricing remains attractive. In Europe, Blue Owl leads Veld Capital’s €355m credit continuation vehicle, providing follow‑on capital to sustain a pipeline of mid‑market leveraged‑loan investments, a sector that has seen tightening spreads as investors chase yield in a low‑rate environment.

Strategic Realignments and Leadership Changes

Partners Group co‑founder Wietlisbach splits family office to create a distinct vehicle focused on direct‑investment opportunities, separating it from the broader firm’s private‑equity platform. Sources indicate the new entity will target $2bn of commitments within the next 12 months, emphasizing sustainable‑energy projects and digital infrastructure. This restructuring mirrors a broader trend of senior partners carving out niche platforms to capture specialized deal flow while preserving legacy relationships with existing LPs.