Top private equity news of the week

Nuveen has agreed a £9.9bn cash acquisition of Schroders in a board-recommended transaction that will create one of the world’s largest active asset managers, with nearly $2.5trn of assets under management.

Under the agreed terms, Schroders shareholders will receive £5.90 per share in cash, valuing the equity at £9.5bn. Shareholders will also retain dividends of up to 22 pence per share before completion, bringing the total transaction value to £9.9bn.

Blackstone is deepening its exposure to artificial intelligence with a further $200m investment in Anthropic, lifting its total stake in the AI startup to about $1bn, Bloomberg reported.

The funding values Anthropic at $350bn, almost double the $183bn valuation achieved in its prior round. The raise has already surpassed its original $10bn target amid strong investor demand.

Platinum Equity has agreed to sell Urbaser to Blackstone and EQT in a transaction valued at approximately $6.6bn (€5.6bn), marking a significant European infrastructure exit.

Platinum acquired the Madrid-based environmental services platform in October 2021 for approximately $4.2bn (€3.5bn). The sale reflects a multi-year transformation strategy focused on operational improvement, targeted M&A, and portfolio optimisation.