Private Equity 24 Hours

Last updated: August 25, 2026, 2:51 PM ET

Deal Flow

Private equity activity remained brisk across sectors and geographies over the past 24 hours. H.I.G. Capital has agreed a strategic growth investment in HBK, one of the largest integrated accounting and wealth management firms in the US, marking the firm's first institutional partnership. In a bet on the fast-emerging market for securing artificial intelligence, Apax Digital led a $140m funding round in Alice, the AI trust, safety and security company formerly known as Active Fence. Meanwhile, KKR agreed to acquire Ci FLAVORS, one of Japan's leading beauty and lifestyle brand platforms, from a group of shareholders led by consumer specialist L Catterton, capitalising on the country's beauty boom.

The Vistria Group has agreed to invest in Curi Capital, a Chicago-headquartered registered investment adviser with more than $14bn in assets under advisement, operating 12 offices across eight states and Washington, DC. KM Capital, a Mexico-based private investment firm, has become Papa Johns' new franchise partner in Mexico, taking over 44 existing restaurants and signalling plans to grow the brand. Fiat Ventures has combined its venture and advisory divisions into a new brand, raising a $35M Fund II under the FGV Capital name, betting that a differentiated venture model can lure limited partners in a tough fundraising environment.

Home Services & Facilities Management

The home services sector continued to consolidate. Gryphon-backed Presidential Heating has acquired Shipley Plumbing, Heating & Air Conditioning, a Montgomery County, Maryland-based provider offering plumbing, drain clearing and water heater repair and installation. Quad-C-backed Flow Service Partners has acquired Altman Air Conditioning, a commercial HVAC and mechanical services provider serving South Florida founded in 1985. Great Point Partners-backed Vetn Care has acquired Geary Veterinary Hospital in Walnut Creek, California, a practice founded in 1979 offering wellness, diagnostics, surgery and senior pet care.

The janitorial sector is drawing renewed attention from private equity, with KKR, GI Partners and O2 Investments all targeting cleaning companies, a sign of the growing appeal of the business. The sector has drawn investments from firms of all sizes, according to PE Hub. In a related facilities management move, Windjammer Capital is planning to sell IPS Group, a San Diego-headquartered provider of parking infrastructure, to Nayax. Elsewhere, Fort Point-backed NewBold Technologies has completed its buyout of Spencer Technologies, a retail technology firm. PE-backed 360training.com has acquired select assets from Electronic Medical Certification, expanding its healthcare training offerings from its Austin headquarters.

Infrastructure & Secondaries

Copenhagen Infrastructure Partners has bolstered its liquidity capabilities, hiring Ben Plant as head of capital solutions, who will spearhead liquidity solutions for the firm's funds and oversee semi-liquid fund strategies at the Denmark-headquartered infrastructure manager. Luton Rising, the company that owns Luton Airport on behalf of Luton Council, is preparing to put the right to operate Britain's fifth-busiest airport out to tender, with infrastructure investors circling.

Trophy assets are commanding premiums in the secondaries market, according to PE International's latest edition, which also notes that Moelis has tapped Lazard for its private capital advisory buildout and that Temasek-linked Azalea has raised a smaller fund of funds. The UK's proposed tax reform offers clarity to secondaries buyers, with the new legislation set to bring buyers' offshore execution to an end, eliminating grey areas around stamp duty in a digital age, according to Hogan Lovells' Elliot Weston. The private-market divide is widening, with Equity Zen co-founder Phil Haslett discussing why startups are offering employees liquidity through secondary sales in a Crunchbase News Q&A.

Exits & Returns

Foresight Group has announced the exit of Plantexpand, selling the outsourced fleet maintenance business to Premius Capital in a deal generating a 3x return. Plantexpand, founded in 1987, provides outsourced maintenance, statutory compliance and asset management services for fleet vehicles and specialist plant equipment across the UK's critical infrastructure sector. The deal was also covered alongside Warburg Pincus' Peter Deming's views on European banking opportunities, with Foresight's exit to Premius marking a notable realisation.

People Moves & Leadership

Edmond de Rothschild Asset Management has made two senior appointments, promoting Alain Krief to global CIO and recruiting Charles Lilford as co-head of equities. LDR Partners has tapped Paul B. Murphy Jr as partner; Murphy began his career in commercial lending at Allied Bank of Texas in 1981. Warburg Pincus' Peter Deming has "fresh eyes" on banking deals amid AI disruption, saying "I think of banks as having incredibly rich data. AI is going to be an opportunity for them to move up the value chain as a service provider," according to his comments as co-lead of European financial and business services. The firm sees AI opportunity in European banking as investment memos stack up.

Venture & Startups

Revolut has launched an AI research unit to build models in-house, marking a significant push into artificial intelligence by the fintech giant. Lunar founders have raised €8.2m to launch Repodo, an AI-native audit startup. The top 10 European robotics startups raised the biggest rounds in H1 2026, according to Sifted's analysis of funding data. Serbian startups are gaining VC attention, with investors highlighting the ecosystem's potential.

Market Insights

Private equity-backed companies generally create more new jobs than their public peers, employing more than 13.3m people in the US alone, according to new data. The traditional VC model funds a risky search for product-market fit, argues guest author Richard de Silva of Lateral Investment Management, while bootstrapped founders typically start with known customers, making them more relevant than ever. India's first listed GP will use some of the proceeds to fund GP commitments in new and existing strategies, according to PE International's analysis of the landmark listing. For founders considering an exit, Sifted offers advice on how to avoid exit regret, a common pitfall in the current M&A environment.