Private Equity 24 Hours

Last updated: May 5, 2026, 8:30 PM ET

Venture Capital & AI Investment

Venture activity remains concentrated in artificial intelligence, evidenced by global funding reaching $56 billion in April, the third-highest monthly total in a year and a 100% year-over-year increase driven by mega-rounds. This AI focus continues despite some volatility elsewhere, as demonstrated by a16z crypto raising a substantial $2.2bn fund intended to remain dedicated to crypto assets rather than pivoting to AI startups. In related funding news, voice AI firm ElevenLabs secured new investors, including BlackRock and Jamie Foxx, as it reports hitting $500M in annual recurring revenue. Furthermore, quantum computing saw a boost as Intel backed Quantware with $178M in a Series B round aimed at kick-starting industrial-scale production, while autonomous software startup Blitzy achieved a $1.4B valuation following a $200M raise.

Healthcare & Life Sciences Transactions

The healthcare services sector remains highly active across both M&A and growth equity. MBF Healthcare-backed Arete Health expanded its outpatient physical therapy footprint by acquiring Virginia Rehabilitation & Wellness and Summerville Physical Therapy & Balance. Simultaneously, Goldman Sachs-backed Xpress Wellness continued its consolidation strategy by acquiring Midwest Counseling Services, broadening its urgent care and behavioral health offerings across rural communities. On the consulting side, Baird Capital closed a single-asset exit for life sciences consulting firm Blue Matter. Separately, European health unicorn Doctolib is plotting a £100M expansion into the UK, marked by its acquisition of London-based Medicus.

Buyout Activity: Industrials & Services

Middle-market dealmaking saw numerous platform acquisitions across specialized industrial and environmental services. Platinum Equity finalized its purchase of electric heating manufacturer Infratech from its founders, while elsewhere, Sterling Group-backed HLSG expanded its healthcare support services by acquiring Texas Textile Services, an outsourced linen laundry provider. Waste management consolidation continued as Allied Industrial-backed Liberty Waste Solutions picked up Randolph County Garbage Services in North Carolina. In environmental services, Coalesce Capital-backed Miller Environmental Group scooped up Central Ohio Oil to enhance its waste handling capabilities.

Technology & Software Exits and Acquisitions

Several software and technology firms moved through the exit pipeline or received new backing. THL Partners is set to divest AMI to Lattice Semiconductor in a deal valued at $1.65bn, expected to close in the third quarter of 2026. In the water sector, KKR and XPV Water Partners are selling Axius Water to CRH, a company they had previously unified to focus on nutrient management. Separately, Copley Equity Partners is testing the market for LJB, an engineering services firm, with sources indicating potential bids could reach 12x to 14x EBITDA. On the opposite end of the spectrum, Long Path Partners completed the take-private of UK software provider Idox.

Financial Services & Administration Deals

Financial services saw strategic acquisitions targeting administration and advisory segments. Cinven-backed Alter Domus announced plans to acquire MSC Group, a provider of professional trustee and fund administration services. In advisory services, William Blair is acquiring Inner Circle Sports, which will continue to operate under its existing branding for a transitional period. Meanwhile, private equity firm Boyne launched a new commercial cleaning platform by investing in H&B Facility Services.

Secondaries Market Sentiment & PE Operations

Sentiment in the private equity secondaries market is undergoing analysis, with recent surveys offering key insights into global market trends and signals. Concurrently, market practitioners are discussing evolving fee structures, noting that the CV market is focusing on 'best practice terms' rather than merely closing deals. Operational issues remain a concern, as one expert noted that misalignment of founder expectations is the top reason M&A deals fail before they even commence. Furthermore, a recent conference addressed complexities in capital distribution, suggesting that not all DPI is considered equal.