Public Markets
Last updated: August 7, 2026, 12:01 AM ET
US Equities: Record Highs Amid AI Resurgence and Hormuz Hopes
The S&P 500 rose 1.8% to a record, pushing past its previous peak from early June as worries about Iran and AI eased. The Dow industrials notched their 24th high of the year on strong earnings, while the Nasdaq slipped amid lingering tech volatility. Wall Street's blistering run took a breather as traders digested recent gains and monitored progress toward a Strait of Hormuz deal. A dramatic turnaround in technology stocks powered a $3.5 trillion increase in the Nasdaq 100's market capitalization in just four days, driven by strong earnings. Sentiment has turned around completely from last month's selloff, with futures climbing as the latest earnings pointed to strong AI demand. The market's gains have broadened as the AI trade falters, with traders flocking to S&P 500 calls as the rally widens. Wall Street bulls are flocking to options betting on more gains in the index, which has for months been in the shadow of the Nasdaq. U.S. stocks surged and oil fell sharply after Treasury Secretary Scott Bessent said the U.S. could reach a deal with Iran to reopen the Strait of Hormuz "today or tomorrow." Stocks finished mixed as optimism about the Hormuz reopening was offset by more volatility in AI wagers, while the Dow led declines on oil price uncertainty. The Dow was poised to break its winning streak as chip stocks slid and oil steadied amid Middle East uncertainty. U.S. stocks fell in a jittery session amid doubts about the reopening of the Strait of Hormuz, with oil prices rising on supply concerns. The Nasdaq Composite retreated after a morning rally as SpaceX slumped, while the Dow industrials advanced on the day.
European & Asian Equities: Records, Earnings, and Reform
European stocks hit a record high, boosted by another strong set of earnings, a rally in mining shares, and optimism that a Middle East truce will be reached soon. The Stoxx 600 index advanced for a fourth straight day as strong earnings boosted sentiment, with WPP Plc leading gains in the media sector. Corporate earnings drove European indexes higher in early trade, with consumer-facing stocks and healthcare leading the advance. Europe Inc. is delivering one of the strongest earnings scorecards in years, setting up regional stocks to scale fresh peaks as analysts turn more optimistic. European stocks traded steady near a record high as falls in HSBC Holdings and Novo Nordisk helped erase early gains. The region's stock market is the only major region to see a meaningful improvement in risk appetite in recent weeks, supported by fresh capital inflows. Spanish stocks offer a sunny escape for tech-weary investors, with the Ibex 35 surpassing Europe with 15% gains, though the country's relative isolation from AI may not last. UK stock futures rose on Middle East optimism as oil dipped on Iran headlines, while the pound eased on a busy earnings day.
Japanese stocks were lower in early trade as uncertainty over the Middle East conflict and energy costs persisted, with the Nikkei falling 0.7% dragged by chip-related stocks. Australia's stock benchmark climbed to a record on easing concerns over the US-Iran conflict and supportive signals in the domestic economy. India's biggest stock reform in years endured a rocky first week as traders were convinced the new auction system to set closing prices was faltering. The first weekly expiry for India's BSE Sensex Index under the new closing-price methodology passed largely without disruption, easing concerns after the mechanism's turbulent debut. However, India's first weekly derivatives expiry under the new system did little to ease concerns after the benchmark NSE Nifty 50 Index again moved sharply during the auction. Global funds are piling back into India IT stocks after selling for months, with smaller IT firms faring better than their larger counterparts during the June quarter. Chinese solar stocks were whipsawed this week by a combination of domestic efforts to end below-cost sales and renewed tariff threats from the US.
Yen Intervention: A Historic Move and Its Fallout
The US blindsided the European Central Bank last week with its historic currency intervention to help Japan, only informing Frankfurt after it sold euros to buy the yen. Christine Lagarde and Scott Bessent spoke only after Washington's historic intervention, according to the Financial Times. The US is bolstering the yen as it did with the Argentine peso, and the reasons are not solely economic. One of the most dramatic foreign exchange market interventions in decades aims to stabilize the slumping yen and stave off a larger crisis. Coordinated intervention allowed Japan to support its currency without selling off its US debt holdings, a currency trader at heart. The US Treasury cites the 1998 yen rally as precedent for the intervention, while Japan and the US confirmed the historic joint intervention in the currency market.
The yen is heading into the end of the week having surrendered nearly half of its intervention-driven gains, fueling speculation among traders that authorities may step into the market again. The way the yen trade is being done should make us worry that the Federal Reserve is being roped into easing monetary conditions. Only the Bank of Japan can arrest the yen's decline, as higher interest rates are needed to address a growing yield gap with the US. The wide impact of the US intervention shows the extent to which global markets revolve around investments in artificial intelligence. Japan vows further action with Washington if needed, while the yen is expected to strengthen about 6% against the dollar by year-end following the coordinated intervention, according to Bank of America. Traders are rushing to hedge against swings in the dollar ahead of Friday's payroll numbers as Fed Chairman Kevin Warsh leaves Wall Street guessing at his next move. A rarely used Federal Reserve liquidity facility saw no activity last week, suggesting Japan didn't use the tool in its latest effort to support the yen.
Currencies: Dollar, Won, Peso, and Carry Trades
The dollar finished its best day in two weeks as oil prices advanced amid fading optimism over easing tensions in the Middle East. The WSJ Dollar Index fell 0.2% — down six of the past seven trading days, while the index edged lower again, down five of the past six days. The US nonfarm payrolls report due out Friday could shape the dollar's next move, with Asian currencies consolidating ahead of the data. The South Korean won rose to the strongest level in almost 10 months as exporters converted their dollar earnings into the local currency. The Colombian peso continues to be the best performing currency in emerging markets as investors shrug off the central bank's efforts to slow the currency's rally. Emerging-market carry trades, some of this year's most popular foreign-exchange bets, are showing resilience even after joint US-Japan currency intervention dented the appeal of this yen-funded strategy. Most emerging-market currencies gained on Tuesday, rebounding from an earlier selloff amid optimism the US and Iran are nearing a deal. The cost of hedging against rand declines has fallen to the lowest level this year as investors bet gyrations spurred by the Middle East conflict will ease.
Fixed Income: Treasuries, Bonds, and the Fed
Treasury yields rose ahead of Friday's payrolls report as job-cut plans remained calm in July alongside low weekly jobless-claims figures. Yields edged slightly lower after weaker-than-expected private payrolls data, with the market awaiting the BLS employment report. Treasuries rose on Tuesday as signs of progress toward a diplomatic resolution of the Iran war sent oil prices lower, curbing expectations for more than one Fed rate hike. Treasury yields cooled amid a busy day of economic indicators and ahead of Friday's employment report. Global yields are moving higher, supported by firmer oil prices as optimism over a reopening of the Strait of Hormuz fades, OCBC said. Bond traders have been spending millions of dollars to guard against sharp declines in long-dated Treasuries that risk igniting a bigger bout of volatility in the $31 trillion market. The US Treasury retained its previous guidance for future debt issuance, signaling no change in note and bond auction sizes well into 2027 even as federal borrowing needs climb. Bond dealers expect the US will avoid signaling auction increases just yet, even though the Treasury will need to increase the sizes of some fixed-rate borrowing programs next year.
Alphabet Inc. has received about $115 billion of orders for its latest jumbo bond sale, signaling renewed investor appetite for debt tied to the artificial intelligence boom after a recent selloff. Investors flocked to drugmaker Abb Vie Inc.'s $10 billion investment-grade bond sale after signs of investor fatigue for new debt to fund AI efforts. Barclays and HSBC say concern the Federal Reserve is dragging its feet on inflation is giving investors another reason to buy bonds that offer protection from accelerating price growth. A sale of 30-year Japanese bonds drew firm demand on Thursday, delivering some calm to a market buffeted by currency turmoil and worry over the government's debt load. China sold long-dated yuan-denominated sovereign bonds in Hong Kong at record-low yields, underscoring strong demand from global investors for the offshore issuance. European bonds are emerging as a safer choice for fund managers as they try to navigate an increasingly fraught global backdrop. Investors are pondering whether the Sell America trade is back after a flurry of economic-policy decisions out of Washington over the past two weeks. Global bond and currency investors are debating if it's time to dust off last year's 'Sell America' trade.
Oil: Hormuz Disruption and Supply Concerns
Oil rose in early Asian trade amid concerns over supply disruptions in the Middle East, extending gains on reports that Iran attacked "hostile targets" in the Strait of Hormuz. Oil extended gains on reports that Iran attacked "hostile targets" in the Strait of Hormuz, with Tehran seeking to bar US ships from the critical waterway in a deal with Oman. Crude futures fell to a three-week low after Treasury Secretary Scott Bessent said the US could be close to an agreement with Iran to reopen the Strait of Hormuz. The price of oil fell sharply on hopes that talks were progressing on reopening the Strait of Hormuz, with Qatar reporting progress in diplomatic efforts. A flare-up in geopolitical risks sent stocks and bonds lower as oil jumped, fueling inflation worries before Friday's jobs report. Iran says it has reached an agreement with Oman on the Hormuz shipping route, determined to retain a degree of control over the chokepoint. Commercial crude oil stockpiles were up by 2.5 million barrels in the week ended July 31, contrary to expectations of a 1.2 million barrel decline. The US shipped a record amount of distillate fuel overseas last week as domestic stockpiles fell again, the latest sign that the global scramble for diesel is draining US supplies. US imports of Saudi Arabian oil dropped to zero in July, the first time that's happened for an entire month since 1985, according to preliminary government data. OPEC's crude oil production recouped some more of its wartime losses last month with gains in Kuwait, Saudi Arabia and Iraq. Russia's oil exports slipped as a lull in drone strikes boosts refining, with Ukraine's switch to attacking tankers letting plants process more crude and ship less abroad. Fuel-makers enjoying skyrocketing profits will likely keep reaping standout margins through the next quarter and beyond, according to an executive from a top US refiner.
Metals: Gold and Copper Records
Gold edged higher in early Asian trade as markets monitored signs of diplomatic progress in the Middle East conflict, said Tickmill. Gold moved in a narrow range as traders assessed the impact of a reported Iranian attack in the Strait of Hormuz on the Federal Reserve's path for interest rates. Gold jumped the most since February as prospects for a deal to reopen the Strait of Hormuz reduced expectations for Federal Reserve rate hikes, while a break above a key technical resistance level fueled buying. Gold futures finished higher as the latest JOLTS report showed the number of job openings little changed in June. Chinese institutional investors have swooped on gold in recent weeks, helping to arrest the precious metal's decline and keep prices above the key threshold of $4,000 an ounce. Comex gold settled 0.09% lower at $4242.00, with gold and silver prices dropping and snapping two- and three-day winning streaks, respectively. Copper prices rose for the third consecutive trading session and ended at fresh records, with gold and silver also settling higher. Copper futures on New York's Comex climbed to a record high as investors awaited a decision on US tariffs while tracking a push to reopen the Strait of Hormuz. Copper advanced to its highest level since mid-May, topping $14,000 a ton in London, as traders monitored ballooning volumes held in the US ahead of an expected decision on an import tariff.
Economic Data: Payrolls, Growth, and Policy
The Philippine economy grew at the slowest pace since 2009 excluding the Covid period in the second quarter, defying expectations of a pickup as the protracted Middle East conflict stokes inflation and drags down consumer spending. India is not considering an early closure of a program aimed at attracting deposits from the country's 35-million-strong diaspora, with the central bank expecting robust inflows until the window shuts. India raised $40 billion from its diaspora to support the sagging rupee, with the central bank's rare push to repatriate savings drawing stronger than expected inflows. India expanded the size of its share sale in state-run insurance giant LIC to raise $3.3 billion after the base offer was oversubscribed, bolstering public finances amid challenges posed by high oil prices. The Indian government's plan to sell more shares in its insurance giant surprised the market by how much it raised and the pace of the deal. China is accelerating its push to internationalize the yuan as domestic banks add new foreign currencies available for direct settlement to bypass the dollar in cross-border trade. China's central bank is stockpiling more gold in Hong Kong, in a move that's likely to support the city's push to become a major bullion-trading hub. The US trade deficit narrowed in June as imports and exports both declined, retreating from a busy month in May, according to Commerce Department data.
Private Equity
Last updated: August 7, 2026, 12:06 AM ET
Mega-Deals and Take-Privates
Apollo secured a recommended cash offer for easy Jet, valuing the FTSE 100 airline at approximately £5.7bn and ending a fast-moving four-week bidding contest. KKR agreed to acquire Integer Holdings in an all-cash transaction valuing the NYSE-listed medical device company at approximately $5.7bn. KKR also agreed to acquire Medicover India, the Indian hospital operations of Nasdaq Stockholm-listed Medicover AB, adding a scaled multi-specialty network to its healthcare portfolio.
Bodycote plc confirmed receipt of two competing conditional cash offers from CVC and Veritas Capital Fund IX in a Rule 2.4 statement issued to the London Stock Exchange. The heat treatment and metallurgical services provider is the subject of competing £1.56bn proposals from the two buyout firms. Nordic Capital struck a deal to acquire BWX Technologies' medical business in a transaction valued at up to $800m.
Sunoco agreed to acquire Court Square-backed Offen Petroleum for $600m, with the target operating a fuel distribution network delivering approximately 2.5 billion gallons annually to about 7,000 customers. Bending Spoons struck a $2.25bn Airtable deal in its first acquisition since its IPO. PE-backed Context Logic agreed to acquire chemicals manufacturer gChem from Eagle Tree for $850m, which will become its second operating business following the early 2026 acquisition of US Salt.
Clearlake co-founder Jose Feliciano is nearing a record $3.9bn MLB deal for the San Diego Padres, which would mark the most expensive franchise sale in Major League Baseball history. KKR is also set to take Integer Holdings private in a $5.7bn medical device carve-out, while Sheridan Capital Partners acquires Carolina Components Group, a provider of custom-engineered bioprocessing assemblies.
Fundraising
G Squared secured $2.3bn for its seventh flagship fund in record time, with the vehicle about twice the size of its previous fund and taking half as long to raise. Adams Street doubled its fund size with a $2.7bn secondary raise for Fund, part of a $5bn secondaries programme seeking a 50/50 split between LP-led and GP-led deployment. Apollo is roughly halfway to its target for Fund XI, which has a target of $22bn-$25bn, having begun raising in February.
Nextalia held a first close of more than €1.1bn on its second flagship fund in just five months, pulling in commitments from over 200 investors and pushing the Italian platform past €3.4bn. TPG has nabbed the lion's share of a $17bn target for TPG X and its third healthcare fund, launched in mid-2025 as part of the firm's $94bn Capital platform. Met Life Investment Management closed a $1.2bn managed secondary transaction with Lexington Partners as lead investor, the insurer's third such fund.
The EQT-managed Scaleup Europe Fund made its first investment, co-leading a €450m round into Finnish satellite imaging company ICEYE at a €10bn valuation. The EU's €5bn tech superfund is now officially open for investment, providing a major new source of scale-up capital for European technology companies.
Secondaries
Pantheon is backing a BlackRock BDC credit continuation vehicle that will house over $500m of debt positions held by TCPC, with pricing at 95% of gross fair value as of 31 December 2025. Singapore's GIC is preparing to offload around $1bn worth of private equity fund stakes on the secondary market, according to sources cited by Bloomberg. Carlyle increasingly views Alp Invest as more of a corporate finance business than a standalone secondaries unit, chief executive Harvey Schwartz said on the firm's Q2 2026 earnings call.
Cyclical tailwinds buoying secondaries will persist for the next several years, Schwartz added, as the firm's US buyout strategy distributed capital at more than double the industry rate. LGT Capital Partners launched a debut credit secondaries strategy that will seek to invest in LP-led, GP-led and opportunistic deals with an emphasis on senior lending. VC investor Ryan Moore closed on $78.5m for Revenant Ventures' debut fund, a regulatory filing shows.
Market volatility only tells part of the story of the GP-led market's domination in H1, with fundraising and expansion into new asset classes also driving growth. Assessing a quick-flip continuation vehicle on the asset's hold period alone is an imperfect metric, according to PE International analysis. Met Life closed a $1.2bn managed fund deal with Lexington, having shopped a portfolio of funds and co-investments with a net asset value of $1.8bn.
Energy and Infrastructure
LS Power agreed to acquire the Brazos Valley gas-fired power plant from Constellation, satisfying a regulatory divestiture commitment tied to Constellation's 2025 acquisition of Calpine. Partners Group agreed to acquire a majority stake in AVK Power, which has delivered more than 20,000 projects and installed approximately 3.5GW of power for data centers across Europe's FLAP-D markets. Veritas agreed to acquire Greenbelt-backed Saber Power Services, a vertically integrated power infrastructure services platform.
Apollo agreed to acquire Maverick Water Group from Crosstimbers Capital Group, backing Texas water infrastructure through the Houston-based operator of alternative non-potable water systems. The Danish retirement scheme Industriens Pension is mulling adding more infra secondaries exposure, favouring indirect over direct investment and having made commitments to all five infra secondaries vehicles managed by Pantheon. The US Navy budget is over $300bn, a figure larger than the GDP of over 75% of the world's countries, driving five reasons private equity is betting big on US Naval investments.
Healthcare
Ares Management is leading a $2.2bn private credit package to finance Med Impact Holdings' planned acquisition of Puerto Rico-based Medical Card System, according to Bloomberg. Sheridan Capital Partners acquired Carolina Components Group, a provider of custom-engineered bioprocessing assemblies, with the firm anticipating strong interest when it eventually sells. Nordic Capital's up to $800m radiopharma bet on BWX Technologies' medical isotopes business highlights growing PE interest in specialised healthcare assets. Tortuga Growth Partners invested in Advanced eClinical Training out of its Fund I, adding clinical training capabilities to its portfolio.
Consumer and Retail
Bain Capital agreed to acquire Gong cha from TA Associates, adding the tea beverage chain serving milk tea, fruit tea and other cold drinks to its consumer portfolio. TSG Consumer took a majority stake in Saltair, valuing the body care brand at the top of its category after three years of rapid growth. Axum Capital agreed to acquire beverage brand Barcode, a Los Angeles-based plant-based and hydration drink company.
Partners Group is in talks to buy beauty business Aroma-Zone from Eurazeo, while CVC and Veritas Capital vie for Bodycote. MPK Equity-backed Gorgeous Collective acquired Clean Your Dirty Face, its first acquisition since the platform's launch earlier in 2026.
Technology and Software
Nexa Equity-backed Facility Grid acquired autonomous commissioning company PingCx, introducing a new product strategy centered on three integrated offerings — FG Construct, Validate, and Sustain. Thoma Bravo agreed to sell Command Alkon to Francisco Partners, a software and platform technology provider for the heavy building materials industry. A16z backed HappyRobot at a $1.2bn valuation, adding to its AI portfolio.
Ash Grove backed 10x Banking, which provides cloud-native core banking technology enabling financial institutions to modernize legacy infrastructure. Legaltech Wordsmith raised a $14m Series B extension from Index and FT Ventures. Moove raised $250M to become the backbone of the robotaxi industry, scaling up autonomous vehicle fleet management and planning to someday own Waymo robotaxis.
Verdane made a majority investment in Factbird, a Danish IoT and recurring software company providing manufacturing intelligence services. Copley Equity-backed FMG Leading snapped up Broadbranch Advisors in a deal that closed at the end of July. EIP and Ocean Sound-backed Convey acquired government and utility software Selectron, bringing together two companies providing omnichannel communications and engagement operating systems.
LP Activity and Investor Intentions
Italian pension fund ENPAV released an RFP for private equity co-investment opportunities. MMAA looks to commit 300bn Korean won to domestic blind pool PE/VC funds for 2026. Korea Post Insurance seeks to commit 60bn Korean won to domestic blind-pool VC funds for 2026.
Boston Retirement Systems issued an RFP for up to an $85m private equity mandate. New Jersey's Division of Investment sees opportunity in the slow exit market, with CIO Shoaib Khan saying re-ups and new opportunities are being looked at on equal footing. Some investors have been "housing capital" in evergreens before redeeming to fund a Hamilton Lane SMA, co-chief Erik Hirsch said on a Tuesday earnings call, calling evergreen hesitancy "only temporary."
LPs are seeking to enshrine better GP reporting standards, while impact is being unfairly tarred with the ESG brush, according to PE International's Side Letter. Apollo, a year after acquiring a GP, downplays manager consolidation while backing a novel first-time fund, and CalSTRS is tackling the climate question, per another Side Letter edition. PEI Group's Data Dive analyses the Global Investor 150 ranking to ascertain the investment strategies of the world's largest PE investors.
Other Notable Deals
KKR-backed FGS scooped up government affairs firm Rich Feuer Anderson, marking its second acquisition of a bipartisan government affairs firm following the September 2025 acquisition of Tarplin, Downs & Young. Red Bird's Affinia added Wilson Partners in a UK accounting tie-up, with the firm advising SMEs, private individuals and PE investors across the UK. Wind Point Partners took ECI off H.I.G. Capital's hands in a financial services MSP handover for the New York-headquartered managed services provider.
Arlington-backed TRP Infrastructure closed five add-on deals to form a new highway plastics division called Gulf Highway Materials. Mutares completed its largest-ever deal with the $450m acquisition of Sabic's engineering thermoplastics business, rebranded Nex Point Materials, employing about 2,800 people and generating roughly $2.5bn in annual revenue. Advent and Harbour Vest agreed to acquire FNZ Bank in Germany, an independent wealth management banking and infrastructure provider connecting more than 50,000 financial advisers.
Waterland took a majority stake in Danish industrial services firm Norisol, which posted an operating margin of over 13% in 2025 and expects revenue to exceed DKr1bn in 2026. Veritas agreed to acquire environmental consultant Trinity Consultants from Oak Hill, which acquired the firm in 2021 from LLCP. Ridgemont acquired remediation services firm Entact from JFLCO, a national provider of environmental remediation and geotechnical construction services.
Wynnchurch-backed Trimlite bought doormaker Barnett Millworks, expanding its geographic footprint into the Southeast market. BV Investments backed workforce compliance service provider Thomas & Company, partnering with CEO Nate Kenney to support the company's next phase of growth. GSAM is lining up data center contractor Divcon for sale, sources say, with the firm providing building management and electrical power monitoring systems to data centers and other mission-critical facilities.
Venture and Startup News
Global venture funding showed no signs of slowing in July, with startup capital totaling $65 billion, up 100% year over year, as the month notched the highest-ever number of billion-dollar venture rounds. European robotics startups raised more in six months than the past two years combined, according to Sifted data. Fintech startup Moss was crowned Europe's newest unicorn with a €30m Series C.
Oxylabs hit a $3.6bn valuation after a decade of turning down VCs, with founders citing "right timing, right partner." Zurich-based Exclaim Robotics came out of stealth with $4.95m for data center robots. Plural backed a $43m round for battery startup Ore Energy for iron-air battery technology.
Wind Borne Systems raised a $37 million Series B to scale its weather balloons and AI forecasts. Yann LeCun joined a new VC firm with 244 LPs, according to Sifted. Nscale will provide compute to Oxford, UCL and Imperial AI researchers as part of a new initiative.
Robinhood launched a fund that lets any retail investor back Y Combinator startups. Y Combinator's growing class of repeat founders shows second-timers are returning in greater numbers, with a dataset of 454 repeat founders analyzed by Crunchbase News. The UK expanded its talent visa to more than 100 companies, broadening access for startups and scale-ups.
AI and Data Trends
The rise of AI content could lead to a "rights-clean" data re-rating, said Graphite's Mike Tilbury, who argued the market still values many of these businesses as ordinary information or subscription companies. AI has enormous potential to improve administration, metadata management, royalty processing and licensing efficiency in music, said Reed Smith's Josh Love, who noted "we're seeing some of the biggest deals the music industry has ever seen." Njord Partners' Arvid Trolle says AI is now a natural part of how the firm operates, and a key part of operational improvements for the special situations investor.
Music is an "exceptionally active" market with PE firms like Blackstone, TPG and EQT also active in partnering with AI businesses, per PE Hub's analysis. While integrating AI into a startup's product strategy is often viewed as a way to enhance valuation, it can inadvertently reduce exit value, argues tech strategic adviser Itay Sagie. The market still values many of these businesses as ordinary information or subscription companies, when what they own is a critical and defensible input into everyone else's AI, Tilbury added.
Trends and Analysis
Mega-firms are largely defying fundraising and exit headwinds, according to PE International's earnings analysis, with OMERS plotting a fivefold increase of its PE portfolio. Over 127,000 workers at US-based tech companies were laid off in mass job cuts in 2025, per a Crunchbase News tally, with layoffs continuing into 2026. Europe's 50 most active equity investors in H1 2026 have been ranked by Sifted, with 144 new funds launched this year revealing Europe's investment market pulse.
Nik Storonsky faces a lawsuit over a €350m superyacht commission, according to Sifted. Broad Sky grew Smith + Howard 4x before exiting to TPG, with CEO Tyler Zachem noting "the business is durable; tax and audit advisory are needed in good and bad times." Lightspeed partners Josh Machiz and Claire Zau discussed strategies behind their growing social media presence and their podcast, Lightwork, including how they found their newest hire via Instagram DM.
Sector Investment
Last updated: August 6, 2026, 11:59 PM ET
Infrastructure Fundraising
Energy Capital Partners closed its largest fund, ECP VI, at $8.1bn, more than 50% above its target in just 18 months. The fundraise was fueled by strong DPI performance, according to chief investment officer Tyler Reeder. Meanwhile, Agallas Equities is planning a $5bn Caribbean-focused inaugural infrastructure fund, targeting major projects in the Dominican Republic with early interest from Gulf family offices.
Pension & Sovereign Capital
APG’s longstanding APAC infrastructure head Hans-Martin Aerts has exited after 25 years at the €639bn Dutch pension asset manager, just a month after its global infrastructure head left. Industriens Pension’s head of infra Mikkel Kjaersgaard says it’s “business as usual” despite geopolitical turbulence, as the €37bn Danish fund continues its approach to co-investments and secondaries. Aware Super is set to pass A$250bn AUM following a merger with Prime Super, which adds approximately A$8bn to its pool of capital.
Healthcare M&A
Altaris has announced it will acquire Clarivate’s Life Sciences & Healthcare business, a deal that reshapes the healthcare private equity landscape.