From PowerShell Core 6.0 you are able to write & at end of command and it will be equivalent to running you pipeline in background in current working directory.
It's not equivalent to & in bash, it's just a nicer syntax for current PowerShell jobs feature. It returns a job object so you can use all other command that you would use for jobs. For example Receive-Job:
C:\utils> ping google.com &
Id     Name            PSJobTypeName   State         HasMoreData     Location             Command
--     ----            -------------   -----         -----------     --------             -------
35     Job35           BackgroundJob   Running       True            localhost            Microsoft.PowerShell.M...
C:\utils> Receive-Job 35
Pinging google.com [172.217.16.14] with 32 bytes of data:
Reply from 172.217.16.14: bytes=32 time=11ms TTL=55
Reply from 172.217.16.14: bytes=32 time=11ms TTL=55
Reply from 172.217.16.14: bytes=32 time=10ms TTL=55
Reply from 172.217.16.14: bytes=32 time=10ms TTL=55
Ping statistics for 172.217.16.14:
    Packets: Sent = 4, Received = 4, Lost = 0 (0% loss),
Approximate round trip times in milli-seconds:
    Minimum = 10ms, Maximum = 11ms, Average = 10ms
C:\utils>
If you want to execute couple of statements in background you can combine & call operator, { } script block and this new & background operator like here:
& { cd .\SomeDir\; .\SomeLongRunningOperation.bat; cd ..; } &
Here's some more info from documentation pages:
from What's New in PowerShell Core 6.0:
Support backgrounding of pipelines with ampersand (&) (#3360)
Putting & at the end of a pipeline causes the pipeline to be run as a PowerShell job. When a pipeline is backgrounded, a job object is returned. Once the pipeline is running as a job, all of the standard *-Job cmdlets can be used to manage the job. Variables (ignoring process-specific variables) used in the pipeline are automatically copied to the job so Copy-Item $foo $bar & just works. The job is also run in the current directory instead of the user's home directory. For more information about PowerShell jobs, see about_Jobs.
from about_operators / Ampersand background operator &:
Ampersand background operator &
Runs the pipeline before it in a PowerShell job. The ampersand background operator acts similarly to the UNIX "ampersand operator" which famously runs the command before it as a background process. The ampersand background operator is built on top of PowerShell jobs so it shares a lot of functionality with Start-Job. The following command contains basic usage of the ampersand background operator.
Get-Process -Name pwsh &
This is functionally equivalent to the following usage of Start-Job.
Start-Job -ScriptBlock {Get-Process -Name pwsh}
Since it's functionally equivalent to using Start-Job, the ampersand background operator returns a Job object just like Start-Job does. This means that you are able to use Receive-Job and Remove-Job just as you would if you had used Start-Job to start the job.
$job = Get-Process -Name pwsh &
Receive-Job $job
Output
NPM(K)    PM(M)      WS(M)     CPU(s)      Id  SI ProcessName
------    -----      -----     ------      --  -- -----------
    0     0.00     221.16      25.90    6988 988 pwsh
    0     0.00     140.12      29.87   14845 845 pwsh
    0     0.00      85.51       0.91   19639 988 pwsh
$job = Get-Process -Name pwsh &
Remove-Job $job
For more information on PowerShell jobs, see about_Jobs.