Private Equity 24 Hours

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

Major Portfolio Transactions

A consortium led by Blackstone secured control of customer-experience software group Medallia from Thoma Bravo, with Apollo and KKR participating alongside the buyout giant in a transaction that saw the seller absorb approximately $5 billion in losses. The move comes as Nordic Capital completed its $8.9 billion exit of Clario Holdings to Thermo Fisher Scientific, marking one of the largest private equity exits globally in 2024 and underscoring the premium for healthcare data assets. Meanwhile, TPG acquired waste management companies Waste Eliminator and Liberty Waste Solutions from Allied Industrial Partners, expanding the firm's environmental services footprint, and Arcline took AstroNova private at $29 per share in a roughly $272 million transaction valuing the technology company.

Technology & Healthcare Investments

General Atlantic entered discussions to lead a funding round exceeding $2 billion for Kling AI, the video generation subsidiary of China's Kuaishou Technology, representing the first external capital raise for the artificial intelligence venture. In the cybersecurity arena, Clearlake-backed Quest Software acquired Anetac to bolster its data management and security offerings, while Montagu purchased BMC Helix from BMC Software in a carveout transaction involving the agentic AI Service Ops platform. Investcorp took a strategic stake in UAE-based IT distributor Metra, which serves more than 6,500 partners across the GCC and MENA region, and Stephens Group-backed Aptus Aero acquired aircraft repair firm EMC Aerospace in its second acquisition following Atlas Aerospace Accessories earlier this year.

Infrastructure & Energy Platform Expansion

CPP Investments committed up to $715 million to Ctrl S Datacenters in India, deepening the Canadian pension fund's exposure to the rapidly expanding digital infrastructure market where data center demand continues to outpace supply. Separately, I Squared Capital formed a $3 billion platform with the U.S. International Development Finance Corporation to develop critical energy infrastructure across South and Southeast Asia, reflecting growing private capital interest in the region's power sector. New Mountain Capital invested in Commonwealth Associates, a power engineering firm that will deploy the capital to meet rising electricity demand and infrastructure investment needs, and KKR committed an additional $1.4 billion to aircraft leasing transactions through its Altavair partnership, bringing total commitments to more than $8 billion since 2018.

Healthcare Services M&A

Belmont Medical Technologies acquired health technology firm Arcos Inc, expanding the Audax-backed company's portfolio of fluid-resuscitation and patient-temperature management solutions. Rochester Midland purchased water treatment services firm Clarity Chem, adding to Peak Rock Capital's platform in specialty chemical products and technical services across water treatment and food safety verticals. These transactions reflect sustained private equity interest in healthcare services companies that benefit from aging demographics and increased outsourcing of clinical functions.

Secondaries Market Activity

Singapore's GIC neared completion of a private credit asset sale worth up to $2 billion, capitalizing on the robust secondaries market for private debt instruments. Flexstone acquired Glouston Capital Partners in a transaction that will create a combined platform managing more than $15 billion in assets, with Glouston's U.S. focus complementing Flexstone's geographic footprint in the secondaries market. The deals highlight how institutional investors are recycling capital through secondary transactions amid extended fundraising cycles and heightened investor scrutiny.

Fundraising Environment & Manager Performance

Clearlake Capital closed its eighth flagship fund at $14.8 billion, demonstrating how capital continues flowing to established managers despite challenging fundraising conditions that have seen limited partners extend due diligence timelines and demand greater transparency. CVC Catalyst acquired a majority stake in Willow Wood, one of the leading U.S. manufacturers of prosthetic limbs and components, from Blue Sea, representing the mid-market arm's latest healthcare investment. The transactions come as fund managers navigate what Lavanya Raghavan and colleagues describe as one of the toughest fundraising environments in years, with investors scrutinizing every aspect of the process more closely than ever before.

Corporate Venture Consolidations

PayPal shuttered its corporate venture arm after a decade of investing across 80 portfolio companies, joining a wave of corporate venture capital consolidations amid broader restructuring efforts. The closure reflects shifting priorities among technology companies that are reassessing non-core investment activities amid margin pressure and focus on core business operations. Despite the shutdown, PayPal Ventures' portfolio companies continue operating independently, and the firm's investments spanned fintech, commerce, and enterprise software sectors throughout its operating history.