Private Equity 24 Hours

Last updated: July 24, 2026, 2:30 AM ET

Major Transactions and Fundraises Dominate PE Landscape

Blackstone set its battery storage developer Aypa Power to Brookfield for $7 billion, encompassing operating, under-construction, and contracted projects, as well as the development platform. In a separate energy-focused deal, Matador Resources Company plans to acquire EnCap-backed Paloma Permian for nearly $1.3 billion, including undeveloped acreage in the Woodford play. Ridgewood Infrastructure-backed MN8 will acquire power producer Greenbacker for $375 million, expanding its portfolio of energy assets.

Blackstone also its latest flagship fundraise, crossing the $14 billion mark, while Step Stone's venture capital secondaries fund has surpassed $1 billion, attracting investment from the Ohio public school employees' pension with a $50 million commitment. Nordic Capital is preparing to sell life sciences software provider Aris Global, a company serving pharmaceutical, biotech, and regulatory authorities.

Sectoral Focus and Strategic Investments

AI, dual-use technologies, and spacetech are emerging as key areas for debt funding, reflecting evolving investment trends. Decathlon has invested in health tech firm Health Endeavors, while New Spring-backed Vybe Urgent Care has acquired two centers from Liberty Urgent Care in the Philadelphia market. Coalesce Capital is acquiring Workstreet, a cybersecurity provider, capitalizing on increased spending in the sector and growing regulatory complexities. Tinicum is backing specialty chemicals distributor Graco Roberts, previously supported by CM Equity Partners.

Advisors acquired aerial services operator Blue Sky Helicopters, which serves utility, government, and public safety clients in the Western US. Vesterra Capital has acquired facilities maintenance platform PHFM, establishing it as an independent provider. Bowmark Capital will become a shareholder in building standards software platform SFG20.

Emerging Trends and Investor Sentiment

The great venture capital exodus sees 14 investors joining startups, signaling a shift in career paths. European startups are offering increasingly competitive salaries, with AI and spacetech among the sectors driving this trend. Tocqueville Asset growth capital from Leon Financial Network to foster long-term enterprise value.

Investors are expressing a "risk-on" stance but demand managers, with a keen eye on AI, defense, and liquidity. Private real estate managers are rewriting the playbook with secondaries, with continuation vehicles now a significant part of the market, shedding its former reputation as a distress-driven strategy. The Chinese RMB secondaries market has completed its first full cycle, presenting opportunities alongside risks for achieving desired returns.

Secondary Market Activity and Deal Structures

The secondaries market continues to break records, with Europe amassing significant capital. Astorg is achieving notable exits, while IK Partners is selling MDT technologies to Bregal Unternehmerkapital. Bregal Sagemount will take a majority stake in Luxembourg’s ATOZ Services, an administration and governance provider for private equity, credit, and real estate clients.

Leverage in continuation funds remains a point of discussion, with varying opinions among lenders and buyers on its appropriate use. The potential for carry payouts to represent a small fraction of an executive's net worth raises questions about incentive structures when stratospheric net worth meets LP-GP alignment.

Education and Technology Sector Investments

An edtech platform, Imagi, has raised $4.5 million in seed funding from investors including Brighteye Ventures and Day One Capital. Camden-backed Triumph Higher Education has acquired the Culinary Institute of Barcelona. Meanwhile, discussions around on-premise versus cloud solutions persist, with some decision-makers now favoring localized systems for enhanced long-term security.