Private Equity 24 Hours

Last updated: August 3, 2026, 8:31 PM ET

Private Equity Dealmaking and Fundraisings

Williams has agreed to acquire Momentum Midstream from EnCap Flatrock for $5.5 billion. Momentum operates an extensive natural gas system spanning over 4,000 miles of pipelines in east Texas and the Gillis Hub in Louisiana. In another significant transaction, CVC and Partners Group are set to fully exit their investment in Żabka Group, as Alimentation Couche-Tard has made an $8.6 billion bid. This voluntary offer will allow CVC and Partners Group to tender their entire holdings in Poland's largest convenience retailer. Permira has agreed to sell Bio Catch, a fraud intelligence provider protecting over 760 million consumers globally, to Visa for $2.4 billion. Permira also achieved a partial exit from its investment in Reformation, a sustainable fashion company, which raised $210.9 million in an IPO priced at the lower end of its range. KKR is also set to acquire a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion. KKR's acquisition of Total Energies' North American solar business for $1.25 billion in late 2025. The European transaction involves a 1.2 GW portfolio of onshore solar and wind assets across the continent. KKR is reportedly exploring the launch of a GP-led strategy, believing it can establish a leading business in this market segment, according to CFO Robert Lewin.

Adams Street Partners has raised over $5 billion in capital commitments for its latest Secondaries Investment Program, highlighted by the $2.7 billion close of its Global Secondary Fund. The secondary market has seen significant activity, clearing approximately $200 billion. In a related development, a specialist impact investing firm has raised an additional $100 million and held a second close for its debut dedicated secondaries fund, with US investors driving this initiative. Ardian has arranged new unitranche financing for Arche MC2, supporting a shareholding reorganization that will place Montefiore Investment and Activa in joint control of the French software publisher. Cortec Group is preparing to sell A1 Garage Door Service, a portfolio company specializing in residential garage door maintenance services acquired in 2019. McNally Capital announced a majority investment in Tenica, capitalizing on growing demand for defense and intelligence services.

Venture Capital and Technology Investments

Menlo Ventures' Matt Murphy indicated that the firm is increasingly focused on larger deals driven by advancements in artificial intelligence, and plans to deploy $3 billion in new capital. The firm has learned from its relationship with Anthropic and sees significant future opportunities in the AI space. Index Ventures doubled down on its AI focus by raising a fresh $2 billion fund. June, a startup focused on simplifying AI adoption, has emerged from stealth with a $20 million pre-seed funding round. This round was backed by Marc Benioff. The question of how "neolabs" will generate revenue remains a key point of discussion.

Institutional Investor Activity and Market Trends

NYSTRS, a public pension fund, intends to commit up to $2.7 billion to private equity for its fiscal year 2027. Industry participants are outlining the potential uses, investment timelines, fee structures, and likely adopters of Hong Kong’s newly established listed alternative investment trusts. OMERS PE's funds czar is a subject of recent analysis, alongside strategies for engaging with GPs and the current state of Singapore's alternative investment community, which appears to be treading water with a caveat. Top commercial law firms are considering private equity investment amidst concerns surrounding artificial intelligence, according to Lincoln. Easyjet extended the PUSU deadline for Castlelake, one of the firms pursuing the company, to synchronize with Apollo's deadline on August 7.

Emerging Themes and Leadership in Tech

The pipeline from product manager to CEO is highlighted as an underrated yet crucial pathway for leadership development in the technology sector. Traditional research overlooks the valuable skills gained in product management roles when examining CEO career trajectories, focusing instead on titles like COO, CFO, and divisional president. VCs are closely watching 13 technical founders across Europe, signaling a dynamic landscape of innovation. Amerit Fleet Solutions is expanding its Canadian presence through the acquisition of Triple Diamond Truck and Trailer Repair, a provider of commercial truck and trailer maintenance services certified by the MTO. PE Club by Nicolas Paulmier, is transforming a network of former private equity executives into a limited partner (LP) platform, attracting serial entrepreneurs, ex-CEOs, and former partners from major European PE firms.