Private Equity 24 Hours

Last updated: August 26, 2026, 2:35 PM ET

Deal Flow

Private equity activity remained brisk across sectors, with Hull Street Energy acquiring a 1,263 MW power portfolio from Rockland Capital. The Grid Flex Portfolio includes the Lee County Generating Station, a 677 MW natural gas facility in Illinois, and the Tait Electric Generating Station, a 586 MW dual-fuel plant in Ohio. In the fire-safety niche, Hidden Harbor Capital Partners acquired Escape Fire Protection, a Vadnais Heights, Minnesota-based provider that designs, installs and maintains fire sprinkler systems for commercial and industrial clients.

In Europe, Soho Square is closing in on a significant minority stake in luxury handbag maker Strathberry at a £100m valuation, according to Sky News. Meanwhile, the takeover battle for Australian vehicle leasing group Fleet Partners has drawn a fourth bidder, with Japan's Sumitomo Corporation lodging an A$813.1m ($582m) offer, joining Pacific Equity Partners in the fray.

Healthcare deals also featured prominently. Radiology Partners, backed by Whistler Capital, is set to acquire Livingbridge's Everlight Radiology, an international teleradiology provider with more than 800 radiologists across 40-plus countries operating on a follow-the-sun model. In fintech, Accel-KKR-backed Basware signed a binding agreement to acquire Trustpair, pairing its invoice lifecycle management platform with Trustpair's payment fraud prevention technology. Trustpair verifies suppliers' bank account details for finance teams using ERP platforms such as SAP, Oracle and Coupa. Separately, Falfurrias-backed capSpire acquired Fin Tark, a London-based commodity trading and risk management consultancy focused on European energy and global metals markets.

Fundraising & Capital Formation

Venture fundraising showed notable momentum. Capital F, one of the few all-female-led VC firms, announced the $17 million close of its debut fund, backing companies building in the "female economy." Pan-African venture firm Ventures Platform raised $84 million for its second fund and plans to invest beyond its home market of Nigeria.

In the secondaries space, StepStone has doubled its target for its debut infrastructure raise to reach $1.5bn, with the firm's total infrastructure secondaries programme securing $1.7bn. Swiss LP adviser InPact is entering infrastructure secondaries while eyeing further opportunities in private equity and real estate secondaries, according to founder and CEO Antoine Prudent.

In the UK, fund managers are battling to run the £1bn Scale-up Fund, a government-backed initiative. The broader secondaries market hit a record $166bn in fundraising in 2024, according to new research and rankings from Secondaries Investor.

People Moves

USS, the UK's largest private pension scheme, has hired Robert Ross from the California State Teachers' Retirement System to lead its private equity programme. Ross replaces Geoffrey Geiger, who left USS last year, and will report to Ben Levenstein, head of the private markets group. The appointment brings veteran LP experience to the £70bn+ scheme's private equity operations. Separately, Star Mountain tapped Adam Fitzner as managing director and strategic portfolio partner, where he will support the firm's growth by leveraging his expertise in private equity investing and operational value creation.

Sports & Special Situations

Scarcity value is driving sports deals as Apollo, Joshua Kushner and José E. Feliciano pursue opportunities in professional teams. The market is seeing rapid movement in 2026 with elevated valuations, with Apollo, Arctos and Blue Owl among the firms making deals. In a related development, Genstar is selling First Eagle to Victory Capital Holdings for $7bn.

In Asia, Hong Kong real estate tycoon Peter Woo's family office is exploring a sale of around $1bn of private equity fund stakes on the secondary market. The move reflects growing LP appetite for liquidity amid stretched distributions. Indeed, a $62bn pension is seeking leverage for liquidity, while a sovereign wealth fund's PE allocation has fallen to a nine-year low, and Chinese PE activity is rebounding. Meanwhile, QIC is targeting shorter plays amid the liquidity crunch, with co-investments and single-asset CVs offering investors "greater control," according to partner Zach Jackson.

AI & Technology

The AI investment landscape continues to evolve, with Brookfield arguing that operational know-how provides the edge in AI investing. However, an MIT report reveals that only 5% of AI pilots succeed, underscoring the gap between hype and value creation. The technology is nonetheless transforming private markets operations, from fundraising to exits, with broader implications for alternative assets by 2030.

In payments, agentic shopping could raise the bar for investments, according to Apis Partners' Matteo Stefanel, who notes that financial institutions will need to participate in "lightspeed discussion between the various agents to facilitate the whole interaction." VCs are also tracking 12 AI safety startups to watch, while nine university spinouts landed Tier-1 seed cheques in 2026. Legal tech funding reached $2.2bn in 2026, slightly down from its all-time high, with AI driving growth after venture investors poured more than $7bn into the space over the past two years.

Regional Ecosystems

Stockholm's founder network, from the "Spotify Mafia" to the "Lovable Mafia," is producing outsized outcomes. Lovable just raised $400 million at a $13.3 billion valuation, roughly doubling its worth in eight months. Meanwhile, Scotland's deeptech ecosystem is maturing, with a huge change happening according to local founders and investors.

Industry Analysis & Rankings

The secondaries market continues to attract attention from investors and regulators alike. Secondaries Investor has launched its Global Market Survey 2026 to capture buyer sentiment and market trends, while the editor's view examines market growth and regulatory challenges. The SI 50 ranks the world's top secondaries firms, and the publication has announced its Next Gen Leaders of Secondaries for 2025. The Law Firm Survey provides insights into the legal landscape, while Women of Influence offer perspectives on AI's impact on alternatives. Private Markets 2030 identifies trends shaping alternative assets, and the Global Secondaries Survey reveals buyer sentiment across the market.

Technology & Privacy

The debate over Meta's smart glasses at tech events is intensifying as privacy concerns grow. Event organizers are weighing whether to ban the devices, which can record video and audio inconspicuously, raising questions about consent and confidentiality in professional settings.