Private equity firm General Atlantic is in discussions to lead a major new funding round for Kling AI, the generative video unit of China’s Kuaishou Technology, one of China’s fastest-growing AI businesses ahead of a planned IPO, according to a report by Bloomberg.

Yum! Brands has agreed to sell Pizza Hut in a dual transaction with private equity firm LongRange Capital and Yum China Holdings, valuing the global pizza chain at around $2.7bn, according to a report by CNBC.

HIG Capital has completed the sale of clinical research organisation Celerion Holdings to funds affiliated with THL Partners in a $1.8bn transaction, marking another realisation from its Advantage investment strategy amid an improving backdrop for private equity exits.

Banks are preparing debt packages totalling around £5bn to support a potential leveraged buyout of UK testing and inspection group Intertek Group Plc by private equity firm EQT, underscoring renewed momentum in large-cap acquisition financing, according to a report by Bloomberg.

Warburg Pincus has announced plans to acquire Japanese student accommodation provider JSB in a deal valued at around $1.2bn, marking a significant step in the firm’s expansion in Japan’s real estate sector, according to a report by Reuters.

The University of Utah has completed what is being described as the first PE-backed partnership in US collegiate athletics, entering into an agreement with New York-based Otro Capital to help finance and expand the commercial operations of its 19 varsity sports programmes, according to a report by Reuters.

Australia’s Sigma Healthcare has withdrawn from the sale process for UK pharmacy chain and Sycamore Partners portfolio company Boots, stepping back from a potential transaction that was expected to value the business at up to $10bn, according to a report by Bloomberg.

LVMH-backed private equity firm L Catterton is in advanced discussions to acquire a stake in Hyrox, the fast-growing competitive fitness brand, according to a report by Sky News.