Private Equity 24 Hours

Last updated: August 27, 2026, 8:34 PM ET

Deal Flow

Private equity dealmaking accelerated across sectors, headlined by Apollo's acquisition of a significant stake in Atlantic Aviation, a transaction valuing the private aviation infrastructure platform at nearly $10bn. The deal allows existing investor KKR to double its money while retaining an ownership position. In a separate transaction, KKR and a consortium of Korean investors committed $2.23bn to SK Horizon, a new AI data centre company being spun out of SK Telecom. The firm also agreed to pay a record $250m penalty to settle a US Justice Department lawsuit alleging repeated violations of federal merger-filing rules, marking the largest civil penalty ever imposed for such infractions.

In a blockbuster AI infrastructure move, Anthropic struck a $45bn deal with Nscale to rent compute capacity, while Nvidia reportedly agreed to acquire AI platform Hugging Face for $12.9bn. Identity verification company Socure raised $156m at a $5.2bn valuation and simultaneously acquired AI fraud investigation startup Fravity, according to Crunchbase News. In Canada, CVC DIF's portfolio company Aurora Towers agreed to acquire American Tower's Canadian business of 255 communication sites, scaling its wireless tower platform.

PE-Backed Acquisitions

Several PE-backed platforms expanded through strategic acquisitions. Leeds Equity-backed engage2learn acquired Instructional Coaching Group, a North Loup, Nebraska-based provider of professional development and research-based coaching frameworks for educators. BV Investment-backed Imagenet purchased data firm Analytica Consulting, which works with US government agencies across healthcare, life sciences, manufacturing and education. Great Point-backed VetnCare acquired Geary Veterinary Hospital, a nearly five-decade-old practice in Walnut Creek, California. Authentic Brands, backed by CVC Capital Partners, General Atlantic and Leonard Green & Partners, acquired the intellectual property of Drake's lifestyle brand OVO. GHK-backed WSB acquired Austin-based engineering firm Foresight Planning & Engineering Services, and Continuim took a majority stake in Resodyn, which will serve as its strategic platform in industrial mixing and materials processing.

FTV Capital made a growth investment in Kingsview Partners, an integrated wealth management platform serving more than 15,000 households through more than 100 advisors.

Fundraising & Secondaries

Gen Nx360 Capital Partners closed its fourth flagship fund at $865m, exceeding its target and marking the largest fundraise in the firm's two-decade history, according to PE Insights. The oversubscribed vehicle will target lower-mid-market services buyouts. Meanwhile, the secondaries market continues to attract attention as a solution to private equity's liquidity crunch, with volumes potentially reaching $1trn within four years, according to PE International. The question of whether secondaries can scale quickly enough to meet investor demand remains central to the market's trajectory.

Foundations are increasing their private equity allocations, with institutional investors seeking higher returns amid a challenging fundraising environment, as reported by PE International. Partners Group is leaning into developed Asia-Pacific markets, seeking to add relationships in Australia's mid-market after completing a similar process in Japan, managing director Martin Liew told PEI.

Sector Spotlight: Fire Safety & Aviation

Fire safety platform valuations are forecast to hold their heights despite elevated pricing, according to JPMorgan business services banker David Sweet. The total addressable market for fire safety add-ons is $150bn, split evenly between fire safety and alarm systems, JPMorgan estimates. Sweet described the "battleship defensibility" of fire safety platforms, noting that PE firms continue to pay high multiples for companies in the space. In a related move, KKR's Industrial Physics scooped up an electrical testing firm from Branford Castle.

Healthcare & Travel

Healthcare private equity is weathering what Bain & Company terms the "Saa Spocalypse," with disclosed healthcare buyout value falling to $51bn in H1 2026 from around $60bn a year earlier, according to a Bain report. Pressures from AI disruption and the Iran war contributed to the slowdown, though the sector remains resilient relative to other areas of the market.

In travel and leisure, AI adaptation and increased consumer spending are driving private equity firms to target the sector. Altor, BGF, Nazca Capital and TDR Capital are among the firms transacting in tourism and travel, betting on continued growth in the sector.

Startups & Talent

Fashion startup Atorie raised $9.5m to bring consumers luxury goods without the markup, allowing shoppers to buy handbags or clothes made from the same materials and factories used in high-end goods. In a profile of non-tech founders, Craft CEO Ilya Levtov — a Juilliard-trained cellist who never learned to code — built a supply chain software company that has raised significant venture funding, according to Crunchbase News.

Industry Commentary

Private equity's operating business needs fewer ornamental experts and more teeth, writes Lee McCabe of Claymore Partners in a commentary piece criticizing the proliferation of fashionable titles without substantive impact. The piece argues that firms should focus on operational value creation rather than hiring operating partners as window dressing.

In the banking sector, Starling Bank's AI gamble is sparking staff concerns over the company's reliance on artificial intelligence following compliance failures, according to Sifted. The concerns highlight the tension between technological innovation and regulatory compliance in financial services.