Private Equity 24 Hours

Last updated: May 11, 2026, 5:30 PM ET

Mega-Deals and Tech Infrastructure Funding

Private equity activity saw massive infusions into technology, with OpenAI securing over $4bn in a funding round led by a group including TPG, Advent, Bain Capital, and Brookfield to establish its new deployment company. Concurrently, Blackstone is finalizing a significant transaction, agreeing to acquire a majority stake in Skroutz from CVC for the Greek online marketplace that features approximately 9,000 merchants. Further infrastructure deployment is being accelerated by another major capital injection, as Blackstone and Halliburton commit a combined $1bn investment into VoltaGrid to speed up backend power generation solutions for data centers and industrial users.

European Sector Consolidation and Exits

Firms across Europe continued their transactional pace, with Mayfair Equity Partners preparing to divest the OVO retail energy business to EON, a sale that encompasses the brand name and operating company. In the Nordic region, Altor is launching an offer for Sleep Cycle, the developer of an AI-powered sleep tracking application, while also agreeing to acquire Sertion, a specialist in complex pipework services for infrastructure and industrial clients. Elsewhere, LDC completed its exit of construction data firm BCIS to Bowmark Capital, selling the provider of subscription-based cost and carbon data to the built environment sector.

Specialized Platform Building and M&A Spree

Platform building remains a key strategy, exemplified by AnaCap launching its Italian professional services platform, Titan, which has immediately agreed to purchase a majority stake in Cattaneo Dall’Olio Rho Tax & Legal Group. In the U.S. automated retail sector, the Dominus-backed Seaga Manufacturing snapped up Three Square Market, a provider of intelligent inventory control solutions based in Freeport, Illinois. This mirrors activity in the broader retail technology space, where Providence Equity-backed 365 Retail Markets acquired rival Cantaloupe, a Michigan-based tech firm. Meanwhile, the biopharma consulting space saw consolidation as the Five Arrows-backed BioPhorum acquired PharmaX Solutions, a London-based consultancy.

Secondaries Activity and Capital Commitments

The secondary market demonstrated continued depth, as Coller emerged as the sole lead on Verdane’s multi-asset continuation vehicle valued at over €600m, a transaction that also saw Step Stone co-underwriting the deal including the Arrive Group exposure. This followed Verdane's announcement of its €635m multi-asset vehicle closing, highlighting the appetite for established asset portfolios. On the primary side, capital commitments flowed into growth equity, with Qatar Investment Authority committing $500m to General Atlantic’s global strategies, indicating a collaborative approach on thematic research and market insights between the sovereign wealth fund and the growth investor.

Firm Strategy, Talent Moves, and Sector Focus

Firms are actively positioning personnel and focusing on specific industries, as Calera Capital appointed Michael O’Brien as managing director and head of business development, bringing him over from his prior role at Valspring Capital. In the live events space, Apollo is moving to acquire Emerald Holding and Questex, a transaction that will take Emerald private for an estimated $1.5 billion. Meanwhile, Dynasty Equity’s Don Cornwell discussed the maturation of sports investment, noting that his firm’s portfolio, which includes Unrivaled Sports and Liverpool FC, reflects business models finally aligning with the intense passion surrounding sports assets. Separately, Paceline is planning the sale of railroad equipment leasing firm RELAM, with the transaction anticipated to complete by the end of May 2026.

Mid-Market Resilience and Emerging Themes

Despite global headwinds, the mid-market appears to be demonstrating resilience, though certain pockets of stress persist within dealmaking, according to market commentary stress testing portfolios. Large firms are leveraging their financial strength, as Carlyle touted its liquidity credentials following a recent exit that yielded a 15x return, partly attributed to employee ownership structures. In Europe, private capital is being eyed for strategic national interests, with M&G seeing opportunities in bolstering defence and energy resilience financing manufacturing conversions. Furthermore, DBJ Asset Management is actively seeking new GP partnerships as it prepares to expand its private equity exposure starting in 2026.