Vol. I · No. 034 Daily Edition Friday, October 23, 2026
The Blind Pool
Private Markets · Brought Into Focus

The Blind Pool, free every weekday before the open. One tight read across the private-markets press.

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You are reading the edition of Friday, October 23, 2026. Go to today’s edition →
Today’s Take EQT's Qiagen take-private leads a slate where Blackstone's softer quarter and its AI-linked lending sit beside widening credit spreads and AI-debt worries, infrastructure and energy managers keep raising capital, secondaries and continuation vehicles stay active, and Treasury, the IMF and the SEC shape the rules for housing, private credit and retail access. 31 stories

EQT's recommended all-cash offer for Qiagen, at €46.50 a share, is one of the year's largest take-privates and puts a listed molecular-diagnostics leader in buyout hands. For GPs it tests whether big public-to-private healthcare deals can clear in a slow exit market. For allocators it is a read on how much sponsor appetite remains for large, complex carve-ins.

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By the Numbers
4.96%
10-year Treasury yield
12 mo · 4.12 → 5.18
▼ US Treasury, Oct 22 close
4.00%
Fed funds target, upper bound
12 mo · 4.50 → 3.75 → 4.00
Federal Reserve (FRED DFEDTARU), Oct 18
-0.036
Chicago Fed credit conditions index
▲ Chicago Fed via FRED (NFCICREDIT), week ending Oct 9
$1.5B
Warburg Pincus's raised Ingenia bid, USD
Investing.com (Reuters), Sep 27
$348B
PE NAV in funds 10+ years old
PitchBook, end-2025
$121B
Secondaries volume, H1
Evercore, H1 2026
As of Oct 23, 2026, before the open. Rates read from primary sources: the 10-year Treasury yield is 4.96% at the Oct 22 close (US Treasury; 5.13% on Oct 21). Could not be refreshed this morning and carried forward: the Fed funds target upper bound (4.00%, Federal Reserve (FRED DFEDTARU), Oct 18); the Chicago Fed credit subindex (-0.036, Chicago Fed via FRED (NFCICREDIT), week ending Oct 9). Also carried forward: Warburg Pincus's raised Ingenia bid, USD, Investing.com (Reuters), Sep 27; PE NAV in funds 10+ years old, PitchBook, end-2025; Secondaries volume, H1, Evercore, H1 2026.

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