Private Equity 8 Hours

Last updated: June 15, 2026, 2:30 PM ET

AI‑Focused Credit and Equity Capital

Apollo and Blackstone sealed a $35bn private‑credit pact to back Anthropic’s next‑generation AI chips, underscoring private‑equity firms’ rush into generative‑AI infrastructure. The financing, split between senior debt and high‑yield tranches, will fund multi‑year wafer‑fab capacity expansions and is priced to compete with sovereign‑backed credit lines, signaling that non‑bank lenders now rival traditional sources for AI‑heavy capex.

Deal‑Level Exits and Continuation Strategies

Morgan Stanley completed a $1.6bn exit from Brazos Delaware II, delivering an 8.0x EBITDA multiple based on projected 2027 earnings and highlighting the firm’s appetite for high‑multiple carve‑outs in the mid‑market. Shortly after, Abry Partners closed a $780m continuation fund for Centauri Health Solutions, allowing the Boston firm to retain a top‑performing healthcare asset while offering limited partners an extended lock‑up at a premium to the original fund’s NAV.

Take‑Private Waves and CRO Consolidation

Nuvei’s $2.75bn take‑private of Payoneer created one of the largest fintech consolidations of the year, giving the Advent‑backed acquirer a global payments platform with $1.2bn of annual revenue and a foothold in cross‑border e‑commerce. In parallel, H.I.G. Capital sold Celerion for $1.8bn to THL Partners, delivering a 12.5x EV/EBITDA multiple for the CRO and reinforcing the trend of strategic buyers paying premium prices for specialized clinical‑research capabilities.

Strategic Stakes and Capital‑Market Moves

L Catterton entered exclusive talks to invest in Hyrox, the fast‑growing extreme‑fitness brand, as the LVMH‑backed firm seeks to capitalize on the surge in boutique health‑club memberships across Europe and North America. Meanwhile, Birkenstock, controlled by L Catterton, approved a €900m senior bond issuance to fund a share‑buyback programme, marking the German footwear maker’s first bond sale in over five years and reflecting strong investor appetite for consumer‑goods issuances. Finally, Argosy doubled its fund size with a $145m raise, expanding its small‑deal secondaries platform and signalling confidence in niche‑deal flow despite broader market volatility.