Private Equity 24 Hours

Last updated: August 5, 2026, 8:31 PM ET

Dealmaking Activity and Valuations

Bain Capital set to acquire Gong cha, a tea beverage chain, from TA Associates. The acquisition of Gong cha, which offers milk tea, fruit tea, and other cold drinks, marks another significant move in the consumer sector. KKR-backed FGS acquired Rich Feuer Anderson, a bipartisan government affairs firm, in its second such deal following the September 2025 acquisition of Tarplin, Downs & Young. Veritas Capital is acquiring Trinity Consultants, an environmental consulting firm, from Oak Hill Capital. Oak Hill previously acquired Trinity in 2021 from LLCP. ContextLogic, a private equity-backed entity, is purchasing chemicals manufacturer gChem from Eagle Tree for $850 million. gChem will become Context Logic's second operating business, following its early 2026 acquisition of US Salt.

In the sports franchise world, Clearlake co-founder José Feliciano is nearing a record $3.9 billion deal to acquire the San Diego Padres, which would be the most expensive sale in Major League Baseball history. Bodycote plc has confirmed receiving two competing conditional cash offer proposals, one from CVC and another from Veritas Capital Fund IX, in a Rule 2.4 statement. These proposals are valued at £1.56 billion.

Fundraising and Investment Trends

Nextalia has raised over €1.1 billion for its second flagship fund, Nextalia Private Equity II (NPE , securing commitments from more than 200 investors since its February fundraising launch. This brings the total value of the Italian platform to over €3.4 billion. EQT's Scaleup Europe Fund has debuted with its first investment, co-leading a €450 million round into Finnish satellite imaging company ICEYE, which was valued at €10 billion. TPG is targeting $17 billion for its third healthcare fund, TPG X, with the two funds launched in mid-2025 being part of TPG’s $94 billion Capital platform for global private equity investing.

Singapore's sovereign wealth fund GIC is preparing to sell approximately $1 billion worth of private equity fund stakes on the secondary market, indicating continued sovereign wealth fund activity in this area. Ryan Moore seed investor in Draft Kings, has closed on $78.5 million for Revenant Ventures' debut fund, according to a regulatory filing. Boston Retirement has issued a request for proposal (RFP) for a private equity mandate valued at up to $85 million.

Technology and AI Investments

Moove has raised $250 million to expand its role as a backbone for the robotaxi industry, with plans to eventually own Waymo robotaxis rather than just manage them. WindBorne Systems secured $37 million in Series B funding to scale its weather balloons and AI-powered forecasts. Lightspeed partners Machiz and Claire Zau discussed their social media strategies and podcast, Lightwork, on the Equity studio. Legaltech firm Wordsmith has raised a $14 million Series B extension, with participation from Index and FT Ventures.

Magic School AI an edtech startup founded by an educator interested in Chat GPT's potential, has secured $63 million from venture capitalists. Despite the perceived benefits of integrating AI into a startup's product strategy, tech strategic advisor Itay Sagie argues that it can inadvertently diminish exit value. Njord Partners' Arvid Trolle stated that AI is now a "natural part" of how the firm operates and is a "key part" of operational improvements, noting resilience in the value and exit markets. an independent wealth management banking and infrastructure provider in Germany, has agreed to be acquired by Advent.

Market Dynamics and Investor Strategies

Carlyle's chief executive Harvey Schwartz noted that the firm's US buyout strategy distributed capital at more than double the industry rate, contributing to strong earnings for the quarter. Schwartz also indicated that Carlyle increasingly views Alp Invest as a corporate finance business rather than a standalone secondaries unit. Some investors have been holding capital in evergreen funds before redeeming to fund a Hamilton Lane Separately Managed Account (SMA), according to co-chief Erik Hirsch.

The music industry is experiencing an "exceptionally active" market, with PE firms such as Blackstone, TPG, and EQT actively partnering with AI businesses. Josh Love of Reed Smith highlighted that AI has "enormous potential to improve administration, metadata management, royalty processing and licensing efficiency" within the music sector, contributing to some of the largest deals the industry has ever seen. Robinhood is launching a fund that will allow retail investors to back Y Combinator startups.

Tech Layoffs and Industry Shifts

Over 127,000 workers at U.S.-based tech companies were laid off in mass job cuts during 2025, and these layoffs have continued into 2026, according to a Crunchbase News tally. Fintech startup Moss has achieved unicorn status with a €30 million Series C funding round. Oxylabs reached a valuation of $3.6 billion after a decade of declining venture capital funding, with the company citing "right timing, right partner" for its success. Europe has seen 144 new funds launched this year, reflecting trends in the region's investment market.