Private Equity 3 Days

Last updated: June 23, 2026, 8:30 PM ET

AI & Venture Capital Investments

Venture capital firms are channeling significant capital into artificial intelligence startups, with Menlo Ventures raising $3 billion across two new funds to invest in AI from seed through growth stages. This substantial capital raise, the largest in the firm's 50-year history, follows their substantial $750 million bet on Anthropic in 2024 Menlo Ventures raises victorious $3B fund. The broader VC landscape is grappling with AI valuations and revenue growth metrics, with discussions around potential "AI bubbles" and the inflation of Annual Recurring Revenue Is there an AI bubble? VCs on valuations and ARR inflation. Meanwhile, Seedcamp closed $320 million across two funds to expand its U.S. footprint, building on its European early-stage investment focus Seedcamp raises $320M for its new fund, and Revolut, Wise and UiPath-backer Seedcamp raises $320m. The next wave of software is expected to be AI-native and industry-specific, with vertical AI companies possessing deep domain expertise poised for significant success Saas Isn’t Coming Back. Something Much Bigger Is Replacing It. In a related sector, robotics startups have raised $18.8 billion in 2026 year-to-date, surpassing the $15 billion raised in all of 2025 and the previous peak in venture funding.

Deal Activity & Sector Focus

Private equity firms continue to pursue a diverse range of acquisitions and investments. Acorn Capital is selling Berry Aviation to Bristow Group for $105 million. Teleo Capital acquired the pharma manufacturing intelligence platform Modersys from Applied Materials. Mangrove Equity launched a new platform, Peak Pavement Group, adding HD Sealcoating & Paving Solutions and Maintain It All. Apheon will acquire the managed IT business Easi, a Belgian provider of business software and IT services. Brightstar Capital acquired healthcare architecture firm Erdman, which will operate as an add-on to its portfolio company KZF Design. Reverence Capital is investing in the CPA firm Eide Bailly to accelerate its strategy and expand client services. L Catterton has taken a significant minority stake in the clean haircare brand RŌZ. Berkshire Partners will invest C$1.775 billion in Harbourfront Wealth Group. Juniper Capital is backing AV systems design firm Bug ID, with founder Matt Lavine retaining a significant equity stake. LDC is investing in Nu-Style Products, a maker of laminate wall panels. Greybull Stewardship has acquired manufacturer Genesys Industries, consolidating three American manufacturing brands. Incline Equity is investing in West Physics, a provider of medical and health physics testing services. Great Hill is investing in the pet grooming franchise Woof Gang Bakery & Grooming. HIG-backed Axis CLC is acquiring Fieldway Group, which provides fire safety and compliance services. Signal Hill-backed Aeterna Group, an architecture and engineering firm, has launched, formed by uniting five existing firms. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions for over $200 million Investcorp to take majority stake in Smart Managed Solutions. Platinum Equity is acquiring manufacturer Tangent Technologies, with the transaction expected to close in the third quarter of 2026.

Live Events & Sports Sector Interest

Private equity firms are showing increased interest in the live events and sports sectors, driven by their growing popularity and market size. Apollo, Hellman & Friedman, and Platinum Equity are investing in live events, capitalizing on the sector's surge in popularity. The global live events market is projected to exceed $1.2 trillion by 2032, attracting significant PE attention Why private equity firms are banking on live events. In sports, KKR-owned Arctos Partners is backing a $288 million Tennessee stadium district as part of a college sports expansion strategy. Arctos, which holds stakes in over 20 professional sports franchises, is forming development partnerships for mixed-use entertainment districts adjacent to stadiums.

Financial Services & Fundraises

The financial services sector is also seeing significant PE activity, including credit and secondary market funds. Allianz Global Investors has gathered $744 million at the first close of its third Asia Pacific private credit fund. Apollo's flagship retail credit fund is meeting only 5% of redemption requests, indicating a significant mismatch between exit demands and the fund's quarterly limits. In the secondaries market, Pantheon's infrastructure secondaries fund has surpassed its target, with its flagship fund ranking among the largest in the sector. ADIC has hired for its senior secondaries team to oversee its portfolio, having deployed $19 billion in 2025. INVL Family Office has launched a private equity secondaries fund with Adams Street Partners, offering clients access to the global secondary market. Flexstone Partners has agreed to acquire Glouston Capital Partners, forming a $15 billion private markets platform. Flexpoint Ford is investing in Novel Financial Holdings.

Strategic Exits & Portfolio Management

Several firms are undertaking significant exits and portfolio adjustments. TPG Capital is exiting Australian drinks producer Made Group in a $1.4 billion sale to Danone. CVC is considering a €6 billion exit from Cooper Consumer Health, with Cap Vest-owned Stada reportedly circling as a potential buyer. CVC is exiting its stake in Philippine logistics leader Fast, with the founding family taking full control after a five-year hold. MBK Partners' Godiva Japan is seeking an extension on its $464 million buyout loan from its banking syndicate. Castlelake has taken its £4.7 billion takeover proposal for easy Jet directly to shareholders after the airline's board rejected three prior approaches Castlelake’s $6.3bn offer for EasyJet rejected. In a defense sector transaction, Advent-backed Cobham Ultra Group will sell its Ultra Mission Solutions defense tech business to Booz Allen for $720 million.

Challenges & Opportunities

The private equity industry is navigating various challenges and opportunities, including concerns over "zombie funds" and regulatory changes. Investors are increasingly worried about tail-end assets and the persistence of "zombie funds"—vehicles holding assets long past their expected liquidation period—amid liquidity pressures and difficulties for General Partners (GPs) in differentiating their offerings The so-called ‘zombie fund’ problem persists. This concern is reflected in institutional investors' strategies, with Virginia's state pension system cutting its private equity target due to volatility concerns, marking the first reduction in over 15 years. The Australian market is also seeing specific deals, with Brookfield seeking a A$750 million loan to fund a dividend recapitalization for La Trobe Financial. Tax changes in Japan, scheduled for 2027, could potentially boost M&A transactions in the short term by creating succession opportunities for private equity firms Japan tax overhaul could impact PE’s succession opportunity.

Sector-Specific Investments

Beyond broader trends, PE firms are making targeted investments across various niche sectors. PE-backed Life Science Connect is acquiring biopharma brands PharmaSource and CDMO Live, aiming to form a comprehensive biopharma outsourcing platform. Laundry services are drawing attention for their perceived resilience to AI disruption, with firms like The Sterling Group and Cornell Capital investing in the sector. In the IT services realm, PE-backed Hyve is acquiring C-suite community platform Virtuosi League.

Fund Management & Personnel

Changes in fund management and personnel indicate ongoing strategic realignments. TPG has named Axel André as partner and CFO, succeeding Jack Weingart, who will lead the firm's growing private wealth arm TPG names Axel André as CFO. Littlejohn has promoted Charles Leung to managing director.

European Tech & AI Infrastructure

Europe is actively working to strengthen its technology stack and AI capabilities, with a focus on owning and controlling AI infrastructure. Discussions are underway regarding the necessity of scrapping non-compete clauses to foster AI development in Europe Want to build European AI muscles? Scrap non-compete clauses. The continent is doubling down on its own AI infrastructure, with a view that owning the entire AI stack is essential ‘Owning and controlling the entire AI stack is essential’: Europe is doubling down on its own AI infrastructure. This push comes as some AI startups face strategic shakeups and widening losses Unlikely AI loses senior staff amid widening losses.

Other Notable Transactions & Developments

Bending Spoons, an Italian software acquirer, is seeking to raise up to $1.62 billion in an IPO alongside its backers. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions in a deal valued at over $200 million. Castlelake’s $6.3 billion offer for EasyJet was rejected, while Oaktree-backed Aqseptence Group agreed to sell its Diemme Filtration division to Sandvik Group. Platinum Equity emerged as the sole bidder for Nestlé's water business after CD&R withdrew from the auction.