Private Equity 3 Days

Last updated: June 23, 2026, 11:30 AM ET

Private Equity Dealmaking & Fund Activity

Private equity firms continue to actively deploy capital across diverse sectors, with notable investments in live events, consumer health, and specialized industries. Apollo, Hellman & Friedman, and Platinum Equity are among those investing in the live events sector, anticipating continued growth as the global market is projected to exceed $1.2 trillion by 2032. In consumer health, CVC Capital Partners is reportedly exploring a €6 billion exit from Cooper Consumer Health, with Cap Vest-owned Stada emerging as a potential bidder. Meanwhile, L Catterton has taken a significant minority stake in the clean haircare brand RŌZ, and Berkshire Partners is set to invest C$1.775 billion in Harbourfront Wealth Group. Juniper Capital is backing AV systems design firm Bug ID, and Incline Equity has invested in medical imaging testing provider West Physics. Platinum Equity is also acquiring manufacturer Tangent Technologies, while HIG-backed Axis CLC has acquired Fieldway Group. Greybull Stewardship has snapped up manufacturer Genesys Industries, and LDC is investing in Nu-Style Products.

Sector Focus: Live Events, Sports & Healthcare

The live events and sports sectors are experiencing a surge of private equity interest, driven by strong consumer demand and growth projections. KKR-owned Arctos Partners is forming a development partnership to build mixed-use entertainment districts adjacent to college sports stadiums, underscoring the increasing involvement of PE in college athletics. This follows earlier investments by firms like Apollo and Platinum Equity in the live events space, which is expected to reach over $1.2 trillion by 2032. In healthcare, AI is accelerating drug discovery, with firms like Mérieux keen to invest in the sector. PE-backed Life Science Connect is expanding its biopharma outsourcing platform through the acquisitions of Pharma Source and CDMO Live.

Secondaries Market & Fund Growth

The private equity secondaries market is seeing significant fund growth, with major players surpassing their fundraising targets. Pantheon and Ardian have launched infrastructure secondaries funds that rank among the largest in the market ahead of their final closes. ADIC, the indirect investments arm of Mubadala, has hired senior staff to oversee its secondaries portfolio, having deployed $19 billion in 2025. INVL Family Office has launched a private equity secondaries fund with Adams Street Partners, offering clients access to the global secondary market. Flexstone Partners is set to acquire Glouston Capital Partners, creating a $15 billion private markets platform. Meanwhile, Swedish insurer LF is exploring entry into private debt secondaries, following similar moves by other European insurers like NN Group looking to diversify illiquid credit portfolios.

LP Concerns & Fund Structures

Limited Partners are increasingly expressing concerns about "zombie funds," or tail-end vehicles holding assets longer than anticipated, amid liquidity pressures and difficulties for General Partners in differentiating themselves. Investors anticipate a rise in such funds as GPs struggle to exit assets. This sentiment is echoed by the Virginia state pension system, which has cut its private equity target for the first time in over 15 years due to volatility concerns. LPs are also observing a doubling in the proportion of GPs utilizing side letters and bespoke Special Purpose Vehicles (SPVs), which are creating back-office complexities. Despite these challenges, around 40% of LPs expect continued growth in portfolio company (CV) activity even as exits improve, with some adopting a more concentrated approach to this market segment.

European Tech & AI Ambitions

Europe is focusing on rebuilding its technology stack and developing its own AI infrastructure, aiming to reduce reliance on external providers. The region is emphasizing the need to "own and control the entire AI stack", signaling a strategic shift towards domestic capabilities. This includes efforts to foster AI talent by potentially reforming non-compete clauses. Despite these ambitions, some AI companies are facing challenges; Unlikely AI is undergoing a strategic shakeup amid widening losses and senior staff departures. In the early-stage investment space, European investor Seedcamp has closed on $320 million across two funds to support seed startups, expanding its US footprint and reaching $1 billion in assets under management. The firm, which has backed companies like Revolut and Wise, is now focusing on US expansion after 18 years concentrating on Europe.

Exits & Valuations

Private equity firms are pursuing various exit strategies, with mixed results and evolving market conditions. CVC Capital Partners has agreed to sell its entire stake in Philippine logistics leader Fast Logistics Group to the founding family, concluding a five-year holding period. TPG Capital is exiting its investment in Australian drinks producer Made Group through a $1.4 billion sale to Danone. Separately, TPG has appointed Axel André as Partner and Chief Financial Officer, with Jack Weingart transitioning to lead the firm's growing private wealth arm. MBK Partners' Godiva Japan is seeking an extension on its $464 million buyout loan, highlighting potential liquidity challenges for some portfolio companies. In a notable IPO attempt, Italian software acquirer Bending Spoons is seeking to raise as much as $1.62 billion, alongside some of its backers. Data analytics company Apps Flyer has reportedly secured over $1 billion in a Series E funding round at a $2.7 billion valuation, signaling potential public market aspirations.

Infrastructure & Specialized Investments

Private equity continues to explore opportunities in infrastructure and specialized sectors. Pantheon and Ardian's latest infrastructure secondaries funds are among the largest ahead of their final closes. Castlelake has taken its takeover proposal for easy Jet directly to shareholders after the airline's board rejected three previous approaches, with its $6.3 billion offer facing scrutiny. Investcorp is acquiring a majority stake in UK facilities management firm Smart Managed Solutions for over $200 million. In other deals, HIG Capital is among several firms investing in the laundry services sector, which is seen as less vulnerable to AI disruption. Northleaf Capital Partners is also active in this space, alongside Cornell Capital and Surge Private Equity.

Fund Management & Operational Shifts

Firms are making strategic adjustments to their leadership and fund structures. TPG has named Axel André as its new Partner and Chief Financial Officer, while Jack Weingart will focus on leading the firm's wealth solutions business. Littlejohn has promoted Charles Leung to managing director. Clearlake Capital successfully closed its eighth flagship fund at $14.8 billion, with a focus on artificial intelligence. Apollo is managing redemption requests for its retail credit fund, satisfying only a portion of requests as exits reached 17%. Brookfield is seeking a A$750 million ($525 loan to fund a dividend recapitalization for its Australian non-bank lender La Trobe Financial and to refinance existing debt.