[Free to read] Anthropic strikes deal to launch European consultancy

Anthropic and London-based private equity firm Hg have agreed to create an independent European AI consultancy that will place consultants and engineers inside businesses. The company is expected to launch by the end of 2026, with hubs in London and Berlin, and will design AI-based products, support companies’ existing AI programs, and work with Hg portfolio companies. Anthropic will invest balance-sheet capital, while Hg will invest through funds it manages, including London-listed HgCapital Trust. The venture is Anthropic’s first backing of a standalone European consultancy. Hg has worked with Anthropic across its portfolio since 2024 and already employs 150 AI specialists for its portfolio companies; those staff will not be replaced by the new business. The planned consultancy will target software companies serving business customers and other white-collar workers. It follows Anthropic’s US service company, Ode, launched earlier in 2026 with Blackstone and Hellman & Friedman and $1.5 billion in planned investment, with Goldman Sachs and Apollo Global also investing. OpenAI formed its OpenAI Deployment Company in May with TPG, Advent, Bain Capital and Brookfield. AI vendors’ expansion into consulting increases competition for Accenture and the Big Four firms’ technology-advisory businesses.