Private Equity 24 Hours

Last updated: August 13, 2026, 8:45 AM ET

Mega-Deals and Exits

Thoma Bravo has agreed to take specialty insurance risk exchange Accelerant private for more than $4bn, with Altamont Capital Partners and founders retaining equity. Apax is selling food supply chain logistics provider Tosca to Goldman Sachs Alternatives, a deal that will recycle capital from its 2017 acquisition. Bank of America will invest up to $1.9bn for a 49.9% stake in Jio Credit, the lending arm of Mukesh Ambani’s Jio Financial Services. TDR Capital is exploring a sale of Arrow Global, the British private credit manager it took private five years ago, as private credit deals heat up. One Rock will sell environmental services firm Enviro Serve to Clean Harbors for $470m, expected to close in H2 2026. Mountaingate has exited healthcare commercialization platform Relevate, which it first partnered with in 2020. Goldman Sachs is acquiring ETF provider Neos Investments for $2.25bn; Neos manages $30bn in assets across 19 options-based income ETFs. WestBridge has agreed to buy a majority stake in Beckett Investment Management from Foresight Group, while Beckett itself has grown AUM from £800m to £2.1bn since 2021.

Fundraising and IPO Activity

Shein is targeting a $30bn–$40bn Hong Kong IPO, a steep discount to its near-$100bn private valuation. Anthropic expects to go public at a valuation of $2tn or more in October, a figure that would surpass SpaceX and rank as the largest IPO on record. Legora is in talks to raise funding at a $10bn valuation. Thrive Holdings, backed by OpenAI, has raised $2bn at a $12bn valuation from SoftBank, D1 Capital and Altimeter Capital to bring AI to the enterprise. Index Ventures is in talks to lead a $500m round for a new AI lab founded by a Deep Mind researcher. Multiverse Computing, a Spanish quantum-AI startup, is nearing a $500m Series C round.

LP Activity and Pension Allocations

Korea’s NPS added another $1bn of secondaries exposure, pushing its secondary funds and co-investments to ~$3.7bn, a 36% jump. The pension’s PE AUM rose 12%, though its share of the total portfolio fell to 7.2% from 7.8%, according to its latest annual report. The LA Fire and Police Pension, a $38bn system, reaffirmed its conviction in lower mid-market and emerging managers, citing strong distributions. HarbourVest revealed its deployment strategy for its $4.75bn flagship fund, while PE firms Bain, Platinum Equity and Monogram lead recent beverage deals. A former APG PE veteran, John Renkema, argues that internal asset class evaluations and specific goal assessments are key for pension performance benchmarks.

Regulatory and Compliance

The SEC is zeroing in on private funds valuations, with examiners asking about funds by name and enforcement picking up the scent. A separate Side Letter notes that valuations face scrutiny on multiple fronts, and tail-end specialist Hollyport has parted with an equity stake.

Thematic Investments and Innovation

Investors are shifting to local economy themes in PE, according to a former heavyweight LP turned consultant. A London Docklands venture lab is quietly building deeptech startups aimed at saving the planet. Trunk Tools, an AI construction startup founded by a teenage carpenter-turned-founder, has raised venture funding.

Sector-Specific Deals: Insurance, Healthcare, and More

Reverence Capital-backed insurance broker Sunstar has acquired RJR Faribo. Marlin’s portfolio company Radar Healthcare completed the add-on acquisition of Cemplicity, a patient experience platform operating in Australia, New Zealand, the Middle East and the UK. Riverside-backed Western Botanicals has invested in dietary supplement developer Yellow Emperor.