Private Equity 24 Hours

Last updated: August 3, 2026, 11:31 PM ET

Deal Activity and Valuations

Williams has agreed to acquire Momentum Midstream from EnCap Flatrock for $5.5 billion. Momentum operates an extensive natural gas system encompassing over 4,000 miles of gathering and transmission pipelines in east Texas and the Gillis Hub in Louisiana. In a significant transaction within the convenience retail sector, Alimentation Couche-Tard is set to acquire Żabka Group for $8.6 billion. This deal represents a full exit for CVC and Partners Group from Poland's largest convenience retailer. KKR is acquiring a 50% stake in Total Energies’ European onshore solar and wind business for €1.8 billion. This transaction follows KKR's late 2025 acquisition of Total Energies' North American solar business for $1.25 billion. Permira has agreed to sell its portfolio company Bio Catch to Visa for $2.4 billion. BioCatch is a fraud intelligence provider that safeguards over 760 million consumers across more than 350 financial institutions globally.

Private Equity Fundraises and Strategies

Adams Street Partners has successfully raised over $5 billion in capital commitments for its latest Secondaries Investment Program. This program was anchored by the close of Global Secondary Fund, which secured $2.7 billion. The specialist impact investing firm Blue Earth has raised an additional $100 million and held a second close for its debut dedicated secondaries fund. KKR is reportedly considering the launch of a GP-led strategy, with CFO Robert Lewin indicating the firm's belief in building a "world-class" business in this sub-segment. Hong Kong's new listed alternative investment trusts are expected to see potential use cases, specific investment horizons, varied fee models, and likely adopters, according to industry participants. New York State Teachers’ Retirement System (NYSTRS) plans to allocate up to $2.7 billion in commitments to the private equity asset class for its fiscal year 2027. PE Club is transforming a network of former private equity executives into an investor (LP) platform. The LPs within PE Club primarily consist of serial entrepreneurs, former CEOs, and partners or former partners from large European private equity firms.

Sector Focus and Emerging Trends

Ardian has arranged a new unitranche financing for Arche MC2, supporting a shareholding reorganization that will result in Montefiore Investment and Activa jointly controlling the French software publisher. Amerit Fleet Solutions is expanding its Canadian presence through the acquisition of Triple Diamond Truck and Trailer Repair, a provider of MTO-certified commercial truck and trailer maintenance and repair services. Cortec Group is preparing to sell A1 Garage Door Service, a portfolio company from 2019 specializing in residential garage door maintenance. McNally Capital has announced a majority investment in Tenica, driven by growing demand for defense and intelligence services. Permira has realized a partial exit from its investment in Reformation, a sustainable fashion company, as the company and its shareholders raised $210.9 million in an initial public offering. The IPO for Reformation was priced at the lower end of its marketed range. Tech Crunch Venture reported that June, a startup focused on simplifying AI adoption, has secured $20 million in pre-seed funding. Index Ventures doubled down on its AI focus by raising a fresh $2 billion fund. Menlo Ventures' Matt Murphy indicated that the firm is increasingly pursuing larger deals due to the momentum in artificial intelligence, and is looking to deploy $3 billion in new capital. The product manager to CEO career path is being highlighted as an underrated training ground for leadership in the technology sector, with skills developed in product management considered as relevant as traditional executive roles like COO or CFO.

Market Dynamics and Legal Considerations

Top commercial law firms are considering private equity investment amidst concerns about artificial intelligence. Easyjet extended the PUSU deadline for Castlelake, one of the firms pursuing the company, to synchronize the timeframe with Apollo’s existing deadline of August 7. The secondaries market has seen significant activity, with total market volume clearing $200 billion. In the venture capital space, 13 technical founders across Europe have been identified as ones to watch by venture capitalists. The question of how "neolabs" will generate revenue remains a key point of discussion within the industry.