Equinox, the upscale fitness club operator and majority owner of SoulCycle, is in "advanced discussions" for an investment from Silver Lake, per Bloomberg. Proceeds would be used to help Equinox expand a digital and at-home hardware platform it launched last summer to compete with Peloton.
Why it matters: This would seem to be something of a philosophical change for Equinox, whose executive chairman Harvey Spevak told me on stage in early 2018 that while he admired what Peloton had done, "SoulCycle is a cardio party... there's no replacement for community and experience, and you can't get that at home no matter how great the execution is."