It’s Friday and another week has come to an end. Over the past couple of weeks, news of investors looking to cash out of private-credit interval funds and business development companies has grabbed headlines and sent the share prices of certain listed alternative asset managers on a bit of a roller-coaster ride.

But where some investors see risk others see opportunity. As our own Isaac Taylor reports this morning, credit secondary buyers are circling the wagons looking for potential buying opportunities as some retail investors flee.

Meanwhile, our Journal colleagues have news of a $70 million investment led by venture investors Accel and Founders Fund in Arda, an AI-driven technology startup focused on automating manufacturing processes.

Have a great weekend and read on for more on these stories and others ...

Pressure for redemptions in private-credit interval funds stands to generate attractive opportunities for secondary buyers who hope to acquire discounted assets, Isaac Taylor writes for WSJ Pro Private Equity. Some institutional investors and asset managers are not only looking to purchase shares of listed nonbank lenders known as business development companies, but also their underlying assets as wealthy individuals flee the strategy.

Accel and Founders Fund are leading a $70 million investment in Arda, an artificial intelligence technology startup devoted to automating manufacturing processes, the Journal reports, citing people familiar with the matter. The investment gives the business co-founded by Bob McGrew, a former OpenAI chief research officer, a $700 million valuation, the people said. Other participants in the still-open investment round include Khosla Ventures and XYZ Venture Capital. Arda is developing AI systems and software to analyze factory operations and train robots to run manufacturing processes autonomously, the people said.

Alternative investment firm LuminArx Capital Management has led a $550 million growth investment in Sierra Space in a deal that values the space-focused defense technology company at $8 billion. Other investors backing the deal included General Atlantic, Coatue Management, Moore Strategic Ventures and Andalusian Private Capital.

Vista Equity Partners is backing an additional investment in aviation and airline leasing and finance software provider Portside, which Vista initially backed in 2024. Existing backer Insight Partners will remain a significant shareholder in the company, which has named Brandon Holden as its new chief executive to succeed co-founder Alek Vernitsky, who will continue on as a strategic adviser.

BlackRock's Global Infrastructure Partners is buying airport ground support equipment leasing company TCR from 3i Infrastructure for about €1.14 billion, or about $1.3 billion. London-listed 3i first backed the Brussels-based business in 2016 and has helped it expand to 237 airports in 24 countries from 100 sites in 11 nations. The deal represents a roughly 50% increase from the valuation 3i gave it about a year ago when it began a sales process.

Balerion Space Ventures has led a $500 million investment in Vast, a developer of next generation space stations. Other investors that backed the deal include IQT, Qatar Investment Authority, Mitsui & Co., MUFG, Nikon Corp., Stellar Ventures, Space Capital and Earthrise Ventures.

Midmarket firm AFM Capital Partners acquired a majority stake in Incodema3D Holdings, a metal additive manufacturing company for applications across sectors like aerospace and defense, space, energy and industrials.

Trinity Hunt Partners has invested in Berger Consulting Group to found an economic and dispute advisory portfolio company. Berger offers economic analysis and damages quantification for law firms engaged in labor and employment disputes, primarily in California.

Swedish buyout firm EQT AB is buying a 25-property U.S. logistics group from Mapletree Investments in Singapore for $575 million. Mapletree has held most of the warehouses in the sale since at least 2019. The properties are located in secondary markets as well as in the New York and Atlanta areas.

Asto Consumer Partners has led a $105 million strategic growth investment in skincare brand Starface World, according to investment bank Robert W. Baird, which advised Starface on the deal. Align Ventures, which has backed the company since 2020, also backed the deal according to press reports.

Caisse de dépôt et placement du Québec, or La Caisse, is providing 240 million Canadian dollars, or about $175.9 million, to finance a Cologix data center in Montreal. The 21 megawatt-capacity facility is operational.

Goldman Sachs Alternatives’ growth equity strategy has led a $65 million investment in Sage, bringing to $124 million the capital raised by the technology platform for skilled nursing homes and senior living providers. Existing investors IVP and Goldcrest also backed the latest transaction.

Littlejohn & Co. is backing GDS Associates, which provides power infrastructure consulting and advisory services to the U.S. electric utility industry.

Our add-on deal interactive tool allows you to sort and analyze volumes of add-on deal data compiled by WSJ Pro. View more.

Lightyear Capital is selling down its majority stake in Schellman to Goldman Sachs Alternatives but will retain a minority interest in the Tampa, Fla.-based cybersecurity compliance and attestation services provider. Lightyear initially backed Schellman in 2021.

Healthcare investor SHS Capital is exiting its stake in German specialty pharmaceutical company AMW out of one fund while also reinvesting in the company as part of a consortium through another more recent fund. AMW focuses on biodegradable controlled-release drug delivery systems.

Private-equity backed medical device company Medline Technologies has priced a nearly $3.1 billion secondary stock offering, Dow Jones Newswires’ Megan Cheah reports. The company priced 75 million shares at around $41 each. The shares will be sold by certain stockholders affiliated with private-equity giants Blackstone, Carlyle Group and Hellman & Friedman, as well as a wholly owned unit of the Abu Dhabi Investment Authority, Medline said Wednesday.

Sound Point Capital Management has closed its latest credit-focused vehicle, Sound Point Strategic Capital Fund III, with $1.5 billion. Investors in the fund include the Fresno County Employees' Retirement Association in California, which kicked in $30 million, according to the WSJ Pro Private Equity LP Commitments database. The New York firm aims to make asset-backed and first-lien investments averaging $150 million to $300 million through the fund, which closed at its hard cap. Sound Point manages over $45 billion.

Synergy Sports Capital, a new sports investment firm founded by former NFL wide receiver and  Terrence C. Murphy Sr., is seeking around $150 million for its inaugural fund. The firm targets acquisitions and control investments in emerging sports leagues and teams. Former NFL running back Reggie Bush is also a partner at the firm.

Lower midmarket firm Mangrove Equity Partners has hit the $250 million upper limit for Mangrove Investors Fund IV. The new fund’s final tally surpassed its $175 million predecessor.

HighBrook Investors has raised $266 million for its debut fund, HighBrook US DCF, to back data center development in Northern Virginia. The new fund has already backed three infill industrial investments for data center development in Fairfax County, Virginia.

Vintage Investment Partners, a global venture firm based in Herzilya, Israel, has added David Chiodo to the firm’s New York investment team. Chiodo was previously a vice president at Sagard Private Equity Solutions, where he led the firm’s emerging venture team.

Houston-based midmarket firm The Sterling Group has promoted four professionals to the principal ranks: Jared Bell and Bryan Tisdale on the firm’s foundation fund strategy, Mike Galanis on the commercial excellence team and Greg Caraway.

Saba Capital Management and Cox Capital Partners, which earlier made offers for Blue Owl Capital BDC shares, now want to buy roughly 5% of Starwood Real Estate Income Trust Class S and Class I shares at discounts of nearly 29% and about 24%, respectively, WSJ Pro's Isaac Taylor reports for Dow Jones Newswires. The listed REIT faces more than $2 billion in redemption requests, Saba and Cox say. Starwood said in a Feb. 12 securities filing that the March 2 transaction price was $20.02 for each S share and $19.85 for each I share, based on the REIT’s $8.2 billion net asset value at the end of January.

Daniel Reimann and Tom Jovik, two former investment professionals from Altor, are launching a new Nordic private-equity firm called Atla to back investments in industrial companies in Scandinavia, Sebastian McCarthy writes for sister publication Private Equity News.

AlbaCore Capital Group, MUFG Bank and Mitsubishi UFJ Financial Group are partnering to form a new U.K. and European infrastructure debt platform. Although MUFG and AlbaCore will jointly shape the platform’s strategic direction, AlbaCore will retain its independence in asset selection and portfolio management.

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Maria Armental; Ted Bunker; Chris Cumming; Luis Garcia; Laura Kreutzer; Isaac Taylor; Chitra Vemuri.