$ Blackstone has agreed to acquire Tropical Smoothie Cafe, a 1,400-location health-focused fast-casual chain, from Levine Leichtman Capital Partners.
$ Apollo Global Management sold a stake in its asset-backed lending unit Atlas SP Partners to insurer MassMutual, per the Financial Times.
$ PAI Partners acquired a majority stake in Audiotonix, a manufacturer of professional audio mixing tools, with previous investor Ardian retaining a minority stake.
$ Descartes Systems Group (TSX: DSG) acquired Aerospace Software Developments, an Ireland-based provider of customs declaration software, for around €57 million.
$ Infinite Reality, a provider of virtual and AI-powered immersive experiences, has agreed to acquire the Drone Racing League for $250 million.
$ ShiftMed acquired CareerStaff Unlimited, a per diem and contract managed service provider, from Genesis HealthCare.
$ Perplexity AI, a developer of AI language search models, is in talks to raise $250 million in Series B funding at a valuation of up to $3 billion.