Private Equity 24 Hours

Last updated: September 4, 2026, 6:48 AM ET

Deal Activity

Private equity deal flow remained brisk across sectors, with several notable transactions closing. Crusoe is reportedly raising $3B at a $30B valuation, a round that came together after the data center developer secured a $13 billion contract with Jane Street. In the sports arena, Carlyle and Dynasty Equity closed minority investments in the Seattle Seahawks, an NFL franchise being acquired by the Khosla family that boasts one of the league's most dedicated fan bases. CVC has agreed to invest in Unitex, a healthcare textile management services firm serving more than 5,000 healthcare facilities from its Elmsford, New York base.

Add-On Acquisitions

The add-on strategy remained a dominant theme. Fort Point-backed AMS Fulfillment completed its acquisition of Vox Fulfillment, expanding its West Coast footprint for the Provo, Utah-based third-party provider serving health, beauty and apparel brands. Saothair Capital completed its acquisition of North American Breweries from Heineken, picking up a Rochester, New York-based brewer producing Labatt, Genesee, Seagram's Escapes and other brands. Incline Equity-backed West Physics Consulting acquired Radiographic Testing Services, adding to its Atlanta-based medical and health physics consulting platform. Arcline-backed Arxis completed acquisitions of Schatz Bearing Corporation and Strat Edge Corporation in aerospace deals, adding specialized bearings and ceramic components for defense and space applications. Gemspring-backed Airswift acquired New Tech Global's Ventures, Rig Personnel and Auburn units, which provide upstream oil and gas workforce and project management services. GreenArrow, backed by CAI Capital, acquired MSL Electric, an Anaheim-based union electrical contractor delivering traffic signal and intelligent transportation system projects. Align Capital Partners acquired Trident Solutions, a Plano, Texas-based manufacturer of safety marking products serving more than 1,700 customers across utility and industrial sectors. Truelink Capital completed its acquisition of JT Thorpe Group, a North American provider of specialty industrial maintenance and thermal management services, marking its third Fund II deal. Magnesium Capital invested in TMA, a provider of end-to-end metering and energy data management services to the GB energy market.

Exits and Sales

Several significant exits took shape. KKR agreed to sell its minority stake in Nordic Bioscience to the company's founder, after helping the business double its revenue and expand across R&D services and drug development. Sycamore Partners sold Los Angeles-based retailer Hot Topic to Spencer Spirit Holdings, a deal that also covers the Box Lunch and Her Universe brands. Thoma Bravo is weighing a sale of Foundation Software that could value the construction software maker at more than $2bn, according to sources cited by Reuters.

Fundraising and Capital Markets

Fundraising activity remained robust. CVC's secondaries arm held the final close of its sixth global secondary fund at $10bn, nearly doubling its predecessor. However, Blackstone held firm at 5% as redemptions tested its flagship private credit fund, capping investor withdrawals for a second consecutive quarter and turning away roughly half of the money shareholders asked to pull. Venture funding saw a dramatic uptick, with global venture funding jumping 122% in August as investors poured $42 billion into just over 1,500 startups worldwide, down 25% from July's $56 billion but still up significantly year-over-year.

Regional and Sector Insights

The Nordic region drew particular attention. The top 10 investors in the Nordics were ranked by revenue growth, while a separate analysis highlighted what's gone wrong with Nordic fintech, with companies becoming "excellent at surviving and worse at scaling." Legora explained why it isn't building its own AI model, instead focusing on acquisitions. Revolut cleared its first hurdle toward a US banking licence, a significant milestone for the fintech giant. Meanwhile, Matt Clifford's move to Anthropic drew criticism from some quarters, with detractors calling it "not cool."

Policy and Regulatory

On the policy front, VCs rejoiced as the UK government ruled out a spinout exit tax, removing a potential hurdle to university technology commercialization. The decision was widely welcomed across the venture community as supportive of innovation and entrepreneurship.

LP Perspectives

Institutional investors continue to shape the market. IMCO, one of Canada's fastest-growing LPs, is charting its next steps in private equity, with small buyouts and mega-transactions driving distributions and APAC families going all-in on impact investing. The sports investing landscape presents unique challenges for PE firms, as playing in the lucrative sports and entertainment sector comes with additional considerations beyond traditional due diligence.