Private Equity 3 Days

Last updated: May 11, 2026, 2:30 AM ET

Private Equity Dealmaking & Sector Focus

Private equity interest in healthcare continues to intensify, evidenced by Amulet Capital's acquisition of TFP Fertility Group, which operates an integrated network spanning 10 clinics across the UK and Poland, alongside several firms, including Goldman Sachs and Avesi Partners, zeroing in on telehealth demand with five reported deals this period. This sector focus contrasts with challenges in defense M&A, where the ‘war effect’ is complicating valuations, leading to the rejection of EQT’s third offer for assurance services provider Intertek. Further illustrating sector specialization, Siris Capital Group is poised to triple its investment upon the sale of its portfolio company Equiniti, benefiting from the sustained demand pulling capital into remote healthcare solutions.

In technology and infrastructure, FH Capital is moving to acquire a majority stake in JinkoSolar’s US subsidiary, with the solar manufacturer retaining a minority stake, while European deal flow remains concentrated in specific niches; robotics deals are proving hottest across the continent, despite broader macroeconomic headwinds. Separately, Blackstone arranged a $1.2 billion credit facility for Air Trunk's expansion into Japanese data centers, part of a broader push by private equity into AI infrastructure assets across Asia-Pacific. Furthermore, the deployment of capital is shifting toward impact investing, as Montana Capital Partners plans to deploy $40m across fund, secondary, and co-investments specifically targeting climate and social impact mandates.

Venture Capital & AI Spending

The venture ecosystem remains heavily skewed toward artificial intelligence, with Nvidia committing $40bn to equity AI deals already this year, reinforcing the trend seen in last week’s funding rounds which were topped by enterprise AI and space technology investments according to Crunchbase data. Startups are seeing capital inflows across functional areas, where companies in sales, marketing, and CRM categories have collectively pulled in approximately $2.7 billion globally in 2026 funding rounds, suggesting an AI makeover for sales and marketing. Meanwhile, early-stage funding reveals specialized investment theses emerging, such as Mother Ventures raising a $10M debut fund focused exclusively on supporting businesses targeting mothers as consumers, reflecting a granular approach to identifying untapped economic engines.

Early-stage software development is witnessing a technological pivot, where the focus in legal tech is moving beyond basic AI toward what is being termed 'Agentic Law', signaling a new phase in automation capabilities. Supporting this high-tech trajectory, quantum software firm Algorithmiq successfully raised €18M and concurrently relocated its operations to Italy, while European defense startups are concurrently being viewed as the new wave of investment amid ongoing geopolitical tensions. Analysis of nearly 2,800 recent funding rounds indicates that startup spending patterns are evolving, though specific details on expenditure categories remain proprietary to the companies involved as revealed by Sifted analysis.

Investor Strategy & Geographic Shifts

Global institutional investors are adjusting their risk appetites, with South Korean manager Kiwoom Asset Management indicating a preference for a relatively risk-averse deployment strategy across potential North American and Western European fund allocations. In contrast, Europe is seeing capital deployed into traditionally less VC-heavy sectors; while investment in trades is lagging due to tools not being designed for the sector according to Sifted reporting, there is a notable shift in hardware and defense. Furthermore, regulatory considerations abroad could influence asset allocation, as proposed Australian performance test overhauls might drive greater adoption of Total Portfolio Approach benchmarking for superfund returns, moving away from segregated asset class measurements.