Private Equity’s AI Deals Lighten the Mood at Milken
PE giants just locked in with OpenAI and Anthropic. Here's what that timing tells us about where the capital is really flowing.
Why it matters
Major PE firms (Blackstone, TPG, Bain Capital, Apollo, KKR) are deepening strategic partnerships with leading AI labs, signaling institutional conviction in enterprise AI automation and potentially offsetting portfolio pressure from overvalued software holdings.
The key facts
6 to knowBlackstone, Hellman & Friedman, Apollo partnering with Anthropic
TPG, Bain Capital, Advent partnering with OpenAI
Google, Blackstone, KKR joint venture announced Tuesday
Partnerships timing coincides with Milken Institute investor meetings
PE focus shifting to white-collar job automation in legal, healthcare, insurance sectors
Deal activity framed as counterweight to PE portfolio challenges (overvalued enterprise software, cash return pressure)
Go to the source
The Informationtheinformation.com
Publisher excerpt: News this week about private equity firms’ new joint ventures with OpenAI and Anthropic came at the right time for PE giants: just as they were about to sit down with their investors for days of meetings at the annual Milken Institute conference. The AI partnerships put the slew of PE firms…