Your Daily Private Equity Briefing

Apollo Funds Divest Kelvion in $4.1 Billion Sale to SLB Amidst Active Private Equity Dealmaking

• Apollo-managed funds and Triton have agreed to sell Kelvion, a global leader in thermal management solutions for data centers and diversified industrials, to SLB for approximately $4.1 billion, including $3.4 billion in cash and $0.7 billion of assumed debt. This significant exit underscores private equity's strategic investments in critical infrastructure supporting the AI-driven data center boom.

  Apollo

• EQT has finalized its acquisition of Coller Capital, with the latter now operating as Coller EQT, establishing one of the largest dedicated secondaries platforms globally. This transaction boosts EQT's total assets under management to €341 billion ($389 billion) and positions it strongly in the rapidly expanding secondaries market, which saw transaction volumes exceed $120 billion in the first half of 2026.

  CisionCarrickcapitalpartners

• ONEOK, Inc. is set to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for $4.425 billion, an acquisition significantly funded by a $9 billion nonvoting minority equity investment from Apollo funds. This highlights private equity's continued role in financing large-scale energy infrastructure projects.

  Apollo