Private Equity 24 Hours

Last updated: July 1, 2026, 8:30 PM ET

Tech & IPO Activity

Bending Spoons surged 40% on its Nasdaq debut, valuing the Italian software firm at $2.2 billion after pricing its IPO at $29.00 per share, above the marketed range pricing at $1.68bn. The company, which has acquired and revamped legacy tech brands, defied the broader Saa S market slump. Meanwhile, Ashton Kutcher is launching a new venture capital firm with Morgan Beller, shifting focus from concentrated AI bets to the infrastructure layer beneath them.

Dealmaking & Acquisitions

KKR is acquiring EDF's North American renewables arm for $4.2 billion, marking a significant bet on clean energy and potentially adding up to $390 million in further payments. The firm also took control of a $1.3 billion SK renewables platform in South Korea to support the nation's AI build-out. In automotive services, Monomoy Capital acquired Jiffy Lube from a Shell USA subsidiary for $1.3 billion, while WILsquare-backed Automotive Color & Ohio Paint Supply to expand its regional distribution network. Elsewhere, Inflexion sold manufacturer Avantus Aerospace to Arcline, and Peak Rock divested geospatial services firm SAM to New Mountain.

Fundraising & Investor Activity

Hamilton Lane closed its sixth direct equity fund at $3.8 billion, its largest to date. Ardian is packaging approximately $1 billion of secondhand fund stakes into debt through a collateralized fund obligation. On the LP side, the Massachusetts Water Resources Authority (MWRA) has issued an RFP for a private equity buyout mandate, planning to commit up to $20 billion for the mandate. The latest Global Investor 150 ranking shows the 10 largest investors collectively hold $1.1 trillion in private equity, with an average allocation of 21% among top allocators.

Sector Investments & Trends

In the artificial intelligence sector, Brookfield is expanding its financing with Bloom Energy to $25 billion, a fivefold increase, to build and finance power infrastructure for AI. Ardian Semiconductor invested in French AI chip designer VSORA, focusing on next-generation inference accelerators for data centers taking a minority stake. The medical device sector is showing signs of recovery, with Houlihan Lokey noting sustained growth for independent service organizations focused on hospital equipment presenting PE opportunities. Similarly, the medical education gap is also proving a tailwind for PE investors in the sector.

Venture Capital & Early Stage

Tapestry VC closed an $80 million third fund aimed at backing repeat European founders, anticipating a wave of AI-driven exits to create new entrepreneurial talent targeting repeat founders. Ex-Speedinvest partner Rick Hao has launched a $50 million solo GP fund for deeptech startups. Meanwhile, DeepMind Gensyn angels backed Xylo in a £2.8 million raise. In other venture news, an AI founder opted for a $17 million deal with 20VC opting for funding.

Platform & Growth Investments

FPE has backed utility software business BMA, which offers decision intelligence for utility companies and infrastructure operators. Truelink invested in mechanical, electrical, and plumbing services firm Horwitz, focusing on commercial and industrial facilities. Verlinvest and Five Seasons are backing pet nutrition company Years, which produces ambient-stored, fresh-ingredient dog meals. Balance Point invested in Aqua Verse, a platform designed to unify and grow pool service brands.

Other Notable Deals & Developments

KKR is set to acquire the US and Canada operations of EDF power solutions for $4.2 billion. William Blair acquired investment bank Inner Circle Sports, which serves a range of clients including team owners, leagues, and media companies. Harvest Partners acquired Integra Testing Services from Keystone Capital Management. In a strategic move, Blue Wolf tapped Vanessa Generelli as its new CFO, with Eve Mongiardo continuing as a partner and chief compliance officer. Behrman completed a $250 million continuation fund for Shurco, with Coller Capital leading the investment. IVEST and Cloverlay are selling Care Bears to Authentic, with the deal expected to close in the third quarter of 2026.

Market Commentary & Analysis

Despite over 127,000 tech workers laid off in the U.S. in 2025 and continued cuts into 2026 tracking mass job cuts, private equity investors are showing strong conviction in the asset class, according to the latest Global Investor 150 ranking. Secondaries buyers are increasingly comfortable with fund financing options to optimize returns seeking fund financing. The PE industry is also grappling with the impact of AI on its software investments, as detailed in the latest issue of Private Equity International discussing AI's impact.