Private Equity 24 Hours

Last updated: June 23, 2026, 8:30 PM ET

Venture Capital & Fundraising

Menlo Ventures has successfully raised $3 billion across two new funds, marking the largest capital infusion in its 50-year history. This substantial capital raise, which includes a significant allocation to back AI startups from seed to growth stages, solidifies Menlo's reputation as a prominent AI investor, notably following its $750 million bet on Anthropic Menlo Ventures raises $3B. Meanwhile, venture capital discussions are grappling with the potential for an "AI bubble," as experts debate current valuations and the inflation of Annual Recurring Revenue (ARR) metrics in the rapidly expanding sector VCs on AI valuations. In a separate development, Allianz Global Investors (Allianz GI) has held the first close of its third Asia Pacific private credit fund, securing $744 million in commitments for its Allianz Asia Pacific Secured Lending Fund III Allianz GI gathers $744m.

Dealmaking & Acquisitions

Private equity firms continue to be active across various sectors. Acorn Capital is set to sell Berry Aviation for $105 million to Bristow Group, a Houston-based provider of vertical flight solutions Acorn Capital to sell Berry Aviation. Teleo Capital has acquired Modersys, a pharmaceutical manufacturing intelligence platform, from Applied Materials, Inc. Teleo Capital scoops up Modersys. Mangrove Equity has launched a new platform, Peak Pavement Group, incorporating HD Sealcoating & Paving Solutions and Maintain It All Mangrove Equity rolls out platform. Apheon is acquiring Easi, a Belgian provider of business software and managed IT services, which serves over 1,500 clients Apheon to acquire managed IT biz. Brightstar Capital has acquired Erdman, a healthcare architecture firm, which will operate as an add-on to its portfolio company KZF Design Brightstar Capital snaps up Erdman. Juniper Capital is backing AV systems design firm Bug ID, with founder Matt Lavine retaining a significant equity stake Juniper Capital backs Bug ID. HIG-backed Axis CLC has acquired Fieldway Group, which specializes in fire safety and compliance services HIG-backed Axis CLC picks up Fieldway. PE-backed Life Science Connect is expanding its biopharma outsourcing platform by acquiring Pharma Source and CDMO Live PE-backed Life Science Connect picks up brands. Incline Equity has invested in West Physics, a provider of testing services for medical imaging equipment like MRI and CT scanners Incline Equity invests in West Physics. Great Hill has invested in the pet grooming franchise Woof Gang Bakery & Grooming, with Garnett Station Partners remaining a significant investor Great Hill invests in Woof Gang. PE-backed Hyve has acquired the C-suite community platform Virtuosi League PE-backed Hyve acquires Virtuosi League.

Sector Focus & Strategic Investments

Private equity interest in the live events sector is surging, with the global market projected to exceed $1.2 trillion by 2032. Firms such as Apollo, Hellman & Friedman, and Platinum Equity are making significant investments in this area, capitalizing on its growing popularity PE firms banking on live events. Platinum Equity is also reportedly the sole bidder for Nestlé's water business after CD&R withdrew from negotiations Platinum Equity sole bidder for Nestlé water unit. Additionally, Platinum Equity is in the process of acquiring manufacturer Tangent Technologies, with the transaction expected to close in the third quarter of 2026 Platinum Equity to acquire Tangent Technologies. CVC Capital Partners is considering a potential €6 billion exit from Cooper Consumer Health, with Cap Vest-owned Stada emerging as a possible buyer CVC weighs €6bn exit from Cooper Consumer Health. L Catterton has taken a significant minority stake in the clean haircare brand RŌZ L Catterton takes stake in RŌZ. Berkshire Partners is set to invest in Harbourfront Wealth Group in a deal valued at C$1.775 billion Berkshire Partners to invest in Harbourfront Wealth. KKR-owned Arctos Partners is backing a $288 million Tennessee stadium district development in a move to expand its college sports investment portfolio KKR-owned Arctos backs stadium district. Reverence Capital is investing in the CPA firm Eide Bailly to accelerate its strategy and expand client services Reverence Capital to invest in Eide Bailly.

Fundraising & Asset Management

Pantheon's infrastructure secondaries funds have surpassed their targets, with both Pantheon's and Ardian’s latest flagship funds positioning themselves among the largest in the sector ahead of their final closes Pantheon's infra secondaries surpass targets. In a notable capital raise, Bending Spoons, an Italian software acquirer operating with a private equity playbook, is seeking to raise up to $1.62 billion in an initial public offering alongside some of its backers Bending Spoons seeks up to $1.62bn in IPO. ADIC, Mubadala's indirect investments arm, has hired a senior professional to oversee its secondaries portfolio, having launched its secondaries unit in 2024 and deployed $19 billion in 2025 ADIC makes senior secondaries hire.

Market Trends & Regulatory Considerations

The Virginia pension system has reduced its private equity target allocation for the first time in over 15 years, citing concerns over market volatility Virginia pension cuts PE target. Discussions around European tech stacks suggest a rebuilding phase is underway within the region's technology sector Europe is rebuilding its tech stack, while global hiring strategies are increasingly being adopted by European businesses for growth Global hiring as growth strategy. Japan's tax overhaul could influence private equity's succession opportunities, potentially boosting M&A transactions in the short term before 2027 tax changes are enacted Japan tax overhaul could impact PE. The increasing use of side letters by limited partners (LPs) is becoming more prevalent, with the proportion of general partners (GPs) utilizing such mechanisms doubling, leading to potential back-office challenges related to bespoke special purpose vehicles (SPVs) LPs reckon CVs are here to stay. In the financial management sector, TPG has appointed Axel André as its new Chief Financial Officer, effective July 27, 2026, freeing up the current finance chief to lead the firm's rapidly expanding private wealth division TPG names Axel André as CFO. Apollo's flagship retail credit fund is meeting only 5% of redemption requests, as redemptions have significantly exceeded the fund's quarterly limit, impacting its exit rates Apollo's retail credit fund meets 5% of redemptions.

Industry Commentary & AI Impact

The integration of Artificial Intelligence (AI) is transforming various industries, including healthcare, though its adoption pace varies. Jean-François Billet, head of buyout at Mérieux, highlighted AI's accelerating drug discovery capabilities by enabling faster screening of compounds AI impacting all of healthcare. Separately, the chief executive of Tandem Health stated the company is not reliant on AI models from major players like OpenAI or Anthropic Tandem Health CEO on AI dependence. Drones startup Stark has confirmed a €500 million fundraising round backed by Sequoia and Founders Fund Drones startup Stark confirms €500m raise. CVC is exiting its stake in Philippine logistics leader Fast as the founding family regains full control after a five-year holding period CVC exits Philippine logistics leader.