Private Equity 8 Hours

Last updated: August 13, 2026, 11:46 AM ET

Megadeals & Blockbuster IPOs

Vantage Data Centers is being weighed for an exit by Silver Lake and Digital Bridge that could value the hyperscale operator at about $100bn, with either a stock market listing or a sale under consideration. Shein has slashed its Hong Kong IPO valuation target to between $30bn and $40bn, a fraction of the near-$100bn it commanded in private markets. Anthropic’s early backers anticipate a record $2tn-plus IPO for the AI developer as soon as October, a figure that would surpass SpaceX. Legora is in talks to raise new funding at a $10bn valuation, according to reports.

Take-Private & Large-Cap Deals

Thoma Bravo has agreed to take Accelerant private in an all-cash deal with an enterprise value of more than $4bn. It is paying $20.25 a share for the specialty insurance risk exchange. Altamont Capital Partners and Accelerant’s founders will retain equity alongside Thoma Bravo. Bank of America will invest up to $1.9bn for as much as 49.9% of Jio Credit, the fast-growing lending arm of Mukesh Ambani’s Jio Financial Services. Apax is selling food supply chain logistics provider Tosca to Goldman Sachs Alternatives; Apax had acquired Tosca in 2017. Blackstone is exploring a broader push into the US retirement market, arguing that incorporating private markets into target-date funds and managed accounts makes “a tonne of sense” given DC plans’ long horizons.

Institutional Moves & Secondaries

Korea’s NPS added another $1bn of secondaries exposure, boosting its secondary funds and co-investments 36% to approximately $3.7bn. The pension’s NPS PE AUM rose 12%, but private equity’s share of the total portfolio slipped to 7.2% from 7.8%. EQT Life Sciences invested $17.5m in Vaderis Therapeutics as part of a $152m Series B round for the Swiss biotech to fund a rare-disease trial. A former heavyweight LP turned consultant notes in a Side Letter that investors are increasingly focusing on local economy themes, while PE dealmaking slumps once again.

Mid-Market Buyouts & Growth Investments

Resurgens Technology Partners invested in quality compliance platform Qarma, which has generated quality data across thousands of brands to power predictive AI tools; Resurgens will help accelerate Qarma’s AI roadmap and international expansion. Granite Creek-backed DCG, a strategy and technology firm, merged with digital and tech firm Urban Emu. Astara Capital snapped up industrial wastewater treatment firm Dynatec, which serves food & beverage, automotive, data center, and manufacturing markets. RF Investment Partners invested in drilling company RJ Underground, which serves municipal, utility, commercial, and residential customers. Braemont invested in consulting firm Thought Logic to accelerate the company’s next phase of growth. WestBridge agreed to buy a majority stake in Beckett Investment Management from Foresight Group. An English financial planning firm, it has grown AUM from £800m to £2.1bn since 2021. Marlin’s Radar Healthcare completed the add-on acquisition of Cemplicity, a patient experience and patient-reported outcomes platform operating in Australia, New Zealand, the Middle East, and the UK.

Regulatory & Emerging Themes

The SEC is zeroing in on private funds valuations, with examiners asking about funds by name in opening requests and enforcement activity picking up. Trunk Tools, an AI construction startup founded by a former carpenter, has raised venture funding as non-tech founders increasingly secure backing.