Private Equity 24 Hours

Last updated: June 26, 2026, 2:30 AM ET

Fundraising & Strategy

Main Capital Partners has closed two new funds totaling more than €5.25bn in under six months, marking the largest private equity buyout fundraise ever completed in the Netherlands. The firm's success signals a continued appetite for specialized software investments. In a strategic shift, Carlyle launched a dedicated defence and reindustrialisation fund, registered in June, reflecting a growing focus on geopolitical and industrial resilience. Meanwhile, the secondaries market faces a potential benchmarking problem, raising questions about how the strategy should be measured against traditional private equity benchmarks. Ohio Teachers pension fund is prioritizing liquidity, setting its private equity pacing for FY 2027 with a plan to address a $4bn annual deficit.

Deal Activity & Exits

KKR has flagged accelerating exits, with income from monetization activity exceeding $900m between March 31 and June 24, indicating a pickup in capital returns to clients. In a significant carve-out, Bain Capital is acquiring a 51% majority stake in Everllence, a provider of propulsion and decarbonization products, from the Volkswagen Group in a €7.4bn deal. Blackstone and Bain Capital have advanced to the second round of bidding for Fuji Media's $6.3bn property arm, a transaction that could become Japan's largest-ever property deal. Advent International is set to acquire Japanese home care operator JWB from MBK Partners, marking its debut in the Japanese market.

In other transactions, Permira and Warburg Pincus-led investor group is taking Clearwater Analytics private for $8.4bn, with support from Francisco Partners and Temasek. CVC Capital Partners plans to invest in the online chess platform Chess.com, with existing backer General Atlantic retaining a stake. Quadrivio & Pambianco and Capdesia Group are acquiring Alice Pizza, Italy's largest fast-casual pizza chain, which operates 231 sites internationally. Southfield Capital-backed Osprey Landscape Group has acquired commercial landscape services firm LandGraphics. Platinum Equity is buying Tangent from The Sterling Group, while Reverence Capital is backing CPA firm Eide Bailly. Omni-backed Infoshare has acquired 3C Consultants and Infoboss, which provide data governance software.

Industry Focus & Valuations

Patronus AI, a startup focused on stress-testing AI agents, has secured $50M in funding. The company, founded by former Meta AI researchers, is experiencing "nearly insatiable demand," according to its investors. This surge highlights the growing importance of AI safety and validation. In the EU, scaling AI effectively remains a challenge, with founders prioritizing long-term vision over immediate funding rounds. The private equity sector is increasingly looking to leverage AI, with operators being key to unlocking its potential as capabilities and use cases constantly evolve.

Carlyle has launched a dedicated defence and reindustrialisation fund, signaling strategic adjustments in response to global geopolitical shifts. In the music industry, HarbourView has acquired publishing rights to songs written by the Wolf Cousins collective. HSG has completed its acquisition of luxury footwear brand Golden Goose, with Temasek and True Light Capital joining as minority shareholders. Bessemer-backed Mas Restaurant Group, a Taco Bell franchisee, has sold 43 Ohio locations to Southpaw.

Emerging & Niche Markets

EQT has secured a sustainability-linked fund finance facility, catering to an era where materiality and impact are paramount in investment decisions. This development points to the increasing integration of ESG factors into financial instruments. Tikehau is exiting its investment in Aubert & Duval, a complex metallic materials producer, selling it to Airbus and Safran. Blue Owl Capital is in advanced talks to acquire a minority stake in the NBA's Cleveland Cavaliers.

The European tech scene is seeing activity, with N26 hitting profitability following a leadership shakeup, and health unicorn Alan raising €480m in a Series G round led by Prosus. Brent Hoberman has raised concerns about the potential impact of future UK tax policies on the tech sector. In the startup ecosystem, while large deals like SpaceX’s $60 billion acquisition of Anysphere dominate headlines, numerous other multibillion-dollar transactions are contributing to what appears to be a record year for startup M&A in the U.S. . Notably, voice-controlled drones have emerged as a focus for investors like Lakestar and Seedcamp.