Private Equity 24 Hours

Last updated: June 10, 2026, 11:30 AM ET

Fund Formation & Legal Landscape Kirkland & Ellis reclaimed top rank in the 2025 fund‑formation league table, leading both in the number of funds advised and total capital raised, underscoring its resurgence after a year of competition from rivals. The firm’s resurgence coincides with heightened demand for specialist counsel as PE lawyers highlighted China’s buyout appeal, noting that Chinese sellers may offer attractive valuations for foreign funds seeking footholds in the market. Meanwhile, the growing prevalence of “zombie” funds—assets held over seven years now comprising one‑fifth of global PE portfolios—prompted a sector‑wide fee survey that flags rising GP‑led fees as a focus for LPs navigating increasingly complex LPA terms.

Large‑Cap Exits & Strategic Sales Warburg Pincus and KKR prepared to divest UK fibre assets amid a broader slowdown in the alt‑net sector, signaling that investors are reassessing infrastructure exposure as telecom margins compress. In a parallel move, Blackstone agreed to sell Interplex’s ICT unit to Taiwan’s Bizlink for $850m, a deal that reflects the firm’s shift toward monetising non‑core technology assets. Across the Atlantic, Sycamore Partners considered a $10bn sale of Boots, a transaction that would cancel the retailer’s planned London flotation and reshape the UK consumer‑goods landscape.

Mid‑Market M&A Activity Astorg‑backed IPCOM acquired a majority stake in French distributor Le Froid Pecomark, expanding its footprint in the refrigeration and heat‑pump market and positioning the platform for cross‑border growth. Dwyer Omega, supported by Arcline, bought precision‑measurement maker Lake Shore Cryotronics, adding cryogenic expertise to its portfolio and targeting OEM customers in aerospace and life‑sciences. Similarly, Bain‑backed Parts Source snapped up health‑tech firm SkillNet, a move that broadens its clinical‑technology platform and accelerates entry into the digital‑health services space.

Growth Capital & Sector Funding General Atlantic led a $1.15bn raise for satellite‑imaging firm ICEYE, valuing the Finnish company at $12bn and underscoring renewed investor appetite for space‑based data amid rising geopolitical demand for real‑time intelligence. In Europe, Blume Equity invested up to €49m in AI‑driven telematics startup CameraMatics, supporting its expansion across the UK, Ireland and the US, while Blue Five took a 49% stake in UAE fleet‑management firm LeasePlan Emirates, giving it access to a 7,000‑vehicle fleet and a fast‑growing Gulf corporate‑leasing market. Pictet Alternative Advisors closed a $1.53bn sixth co‑investment fund, its largest to date, reflecting strong LP confidence in secondary‑market opportunities.

Portfolio Reinforcement & Debt Solutions Partners Group poised to inject $231m into debt‑laden Emeria, aiming to stabilise the German specialty‑chemicals producer as its leverage outpaces earnings, a move that may set a precedent for PE‑driven recapitalisations in the sector. Bain Capital secured a majority stake in aerospace‑defence supplier FDH Aero, while Audax retained a significant holding, indicating confidence in the firm’s supply‑chain resilience amid rising defence spending. HIG‑backed Coriant acquired UK service provider Wescott, adding coatings, rope‑access and fire‑protection capabilities that complement its existing infrastructure maintenance portfolio.

Talent Moves & Operational Add‑ons Ocean Sound appointed Kenneth Wolff as partner and chief legal officer, bringing former Skadden private‑equity expertise to bolster its deal‑making capacity. In the industrial space, HIG’s Coriant added Wescott as an operational add‑on, while Mutares sold F.lli Ferrari’s Netherlands distribution arm to HMF Group, streamlining its crane‑manufacturing business. These personnel and add‑on strategies illustrate how firms are sharpening operational focus to drive value creation in increasingly competitive markets.