Private Equity 24 Hours

Last updated: June 17, 2026, 2:31 AM ET

Major M&A Transactions

Private equity activity surged with several blockbuster deals and significant stake acquisitions. SpaceX secured the year's largest startup M&A deal by acquiring AI coding tool Cursor for $60 billion, marking a strategic entry into enterprise software development where AI-assisted coding has reshaped corporate development workflows. Meanwhile, Long Range Capital agreed to take on Pizza Hut in a $2.7 billion transaction with Yum! Brands, though conflicting reports cite valuations of $1.5 billion and $1.2 billion, highlighting market uncertainty around the brand's turnaround prospects. The deal adds to a wave of food service consolidations, as Nordic Leisure Travel Group drew $846 million in exits for Altor, Strawberry, and TDR Capital across its portfolio of European leisure brands.

Sector-Specific Acquisitions

Industrial and healthcare deals dominated the acquisition landscape. CVC moved to take majority stake in Willow Wood, a prosthetic products manufacturer, while CAI Capital-backed Green Arrow expanded into electrical contracting through its purchase of HBC Company. In healthcare technology, Cleargate Capital invested in Fellow Health Partners, supporting over 500 clinicians across 50 healthcare organizations. The fintech sector saw Chronograph secure over $140 million from Sixth Street Growth, joining a broader trend where Francisco Partners acquired EfficientIP, a provider of DNS and IP address management security software, reflecting continued appetite for cybersecurity infrastructure.

Secondary Market Activity

Infrastructure-focused secondary activity gained momentum across Asia-Pacific and Europe. Japan Science and Technology Agency began investing in infrastructure secondaries, with senior manager Keigo Yumino noting the university endowment's infrastructure portfolio is "fully diversified" despite personnel shortages in building direct investment capabilities. EQT drew £5 billion in bank financing proposals for a potential take-private of Intertek, demonstrating strong debt market appetite for large leveraged transactions. In Asia, Jardine Matheson pivoted to a private equity model with a $500 million buyback and asset sales, transforming the 194-year-old Hong Kong conglomerate into an active investor more akin to a PE fund.

Funding & New Investments

New capital deployment reflected growing confidence in specialized sectors. Lead Edge Capital acquired electric components procurement platform Elektrik, aligning with broader PE investment themes around data center infrastructure support. LGP acquired the Cumming Group from New Mountain, gaining advisory capabilities serving over 4,000 clients including 41 Fortune 100 companies. The secondary market also showed strength, with CalPERS' new alternatives head Anton Orlich taking a sophisticated approach to secondaries, now overseeing private credit, real estate, infrastructure, and other alternative programs alongside private equity.

Strategic Moves & Market Positioning

Several firms repositioned for evolving market conditions. Carlyle sought a private equity comeback, with global head John Redett noting improved performance following the firm's U.S. overhaul. Cathay Capital acquired majority stake in Equadis, a product data Saa S firm serving Procter & Gamble, Unilever, and Nestlé, underscoring the importance of data infrastructure in modern consumer goods operations. LDC invested in accountancy business Fortus, adding a 115-strong team specializing in accountancy, audit, and tax advisory services. These moves coincided with increased focus on founder development, as Sifted highlighted four critical mistakes first-time founders should avoid, suggesting the market is preparing for a new generation of entrepreneurs entering the private equity ecosystem.