Private Equity 24 Hours

Last updated: May 12, 2026, 5:30 AM ET

Mega-Deals and AI Infrastructure

The private equity sector continues to deploy substantial capital into technology infrastructure, with OpenAI securing over $4bn from a consortium led by TPG, which also included Advent, and Brookfield to launch its new Deployment Company. Separately, Blackstone and Halliburton are jointly injecting a $1bn capital infusion into VoltaGrid to expedite the rollout of power generation solutions specifically tailored for data centers and microgrids. This aggressive investment mirrors the growing need for energy resilience underpinning AI expansion, a concern amplified by forecasts suggesting quantum computing could exacerbate current energy demands following the AI energy crisis.

European Dealmaking and Regulatory Focus

Activity in Europe remains dynamic, with EQT proceeding with a final bid to take testing giant Intertek private, while law experts suggest the recently drafted European merger guidelines are a "broad positive" for future private equity transactions. In platform building, Bridgepoint-backed NMi Group is expanding its environmental and mechanical testing footprint by acquiring Berlin-based TechnoLab. Elsewhere, Mayfair Equity Partners is divesting its retail energy interests, agreeing to sell the OVO retail energy business, including customers and the brand name, to EON. Furthermore, AnaCap initiated its Italian professional services platform, Titan, by agreeing to purchase a majority stake in the tax and legal firm Cattaneo Dall’Olio Rho.

Sector Consolidation in Testing, Tech, and Sports

The specialized consulting and testing sectors are seeing focused consolidation, as seen by Five Arrows-backed BioPhorum scooping up biopharma consultant PharmaX Solutions, and LDC exiting construction data firm BCIS to Bowmark Capital. Retail technology is also a target, with Providence Equity-backed 365 Retail Markets acquiring Michigan-based firm Cantaloupe, and Dominus-backed Seaga Manufacturing snapping up automated retail provider Three Square Market. In the sports ecosystem, Bruin Capital has taken a minority stake in Matchroom Sport, which owns and promotes various sporting events, aligning with broader themes where technology helps PE investors tap into fandoms.

Growth Equity and Strategic Exits

Growth-focused capital continues to flow, with QIA committing $500m to General Atlantic’s global investment strategies, establishing a collaboration on thematic research. In fintech, Apis and Aspirity co-led a $175M investment into payments processor Paymentology. Meanwhile, Verdane is moving to acquire a stake in Telenor Connexion, the IoT unit of the Norwegian telecom giant. On the exit front, Paceline plans to sell railroad equipment firm RELAM by May 2026, and Apollo is taking live events firms Emerald Holding and Questex private in a $1.5bn transaction.

Mid-Market Resilience and Talent Focus

While pockets of stress persist in the mid-market, overall performance appears resilient, according to recent analysis, with firms like Carlyle touting liquidity credentials following a recent 15x exit attributed partly to employee ownership structures. Capital deployment continues in the Nordic region, where Altor is acquiring a majority stake in pipework services specialist Sertion, and separately launched an offer for AI-powered sleep tracking application Sleep Cycle. However, the European technology ecosystem faces headwinds, as concerns mount over a looming commercial talent crunch for quantum startups, even as hot AI firms poach talent from Big Tech.

Investor Intentions and European Tech Hubs

Investor appetite for new mandates remains strong, with DBJ Asset Management planning to expand its private equity exposure beginning in 2026 through new GP partnerships. Geographically, London remains a hub for early-stage funding, with 12 ETH Zurich spinouts preparing for Series A rounds, while broader European tech initiatives like LEAP are solidifying their position as a global meeting point for international technology players. There is also anticipation surrounding Robinhood’s confidential filing for a second venture fund targeting early-stage startups, riding the current AI rally.