Private Equity 24 Hours

Last updated: August 10, 2026, 11:47 AM ET

Dealflow and Market Trends

Private equity dealflow slumped to its worst second quarter since 2020, with the TMT sector recording the steepest decline in transaction count. A separate analysis described a déjà vu all over again as macro turbulence crushed momentum for a second consecutive year. Meanwhile, the secondaries market showed a sharp divergence, with continuation funds outstripping traditional secondary activity, according to the latest Side Letter.

M&A and Buyouts

Bernhard Capital agreed to take Bowman Consulting private in a $1bn deal that includes a 35-day go-shop period. New Mountain is buying fire safety and engineering provider Jensen Hughes from Gryphon, while Provectus Capital made its Romanian debut by acquiring a majority stake in Seatbelt Consulting, the country’s largest occupational health and safety services firm. In Australia, I Squared Capital agreed to buy oOh!media for $631m in equity, while oOh!media was valued at $733m on an enterprise basis in a separate report. VSS closed a minority investment in Cordoba, betting on infrastructure transformation and noting that AI cannot replace physical assets. Separately, KKR took a strategic equity stake in Crowe’s advisory business, strengthening the accounting sector’s private equity appeal.

Fundraising and Capital Formation

Brookfield gathered a record $77bn in the second quarter, driven by its private equity, infrastructure, and credit franchises. On the institutional side, Korea’s Employment Insurance Fund plans to commit 120bn Korean won to blind-pool private equity and venture capital funds. The startup ecosystem rebounded sharply: new unicorn counts in the first half of 2026 reached, already surpassing the full-year total for 2025. A wave of AI IPOs could return significant liquidity to limited partners, fueling a new venture fundraising cycle rather than merely shifting public-market valuations.

Geographic and Sector Expansions

Dealmakers are increasingly targeting the Spanish mid-market, where family-owned companies face succession decisions and seek external partners to professionalize and scale. In the UK, a DeepMind shakeup has raised questions about the country’s AI ambitions, and DeepMind’s future has become increasingly critical for the broader tech ecosystem. Fintech giant Revolut secured a French banking licence, a major regulatory milestone easing its European expansion. Healthtech startup Nabla installed Brian Manning as CEO, who stated unequivocally that the company is not seeking an acquisition.