Private Equity 3 Days

Last updated: May 11, 2026, 8:30 PM ET

Mega-Deals and AI Infrastructure Funding

The private equity sphere saw major technology and infrastructure investments, highlighted by a massive capital raise for a new OpenAI deployment vehicle led by TPG, Advent, Bain Capital, and Brookfield, which collectively injected over $4bn. This activity contrasts with other major tech investments, such as Blackstone and Halliburton teaming up to commit $1bn toward Volta Grid to accelerate the deployment of behind-the-meter power solutions essential for data centers and industrial applications. Further evidence of private capital flowing into AI ecosystems comes from Nvidia committing $40bn to equity AI deals this year alone, underscoring the intense focus on foundational technology infrastructure.

Platform Building and Strategic Acquisitions

Platform creation through strategic bolt-on acquisitions remains a core PE strategy across various sectors. AnaCap launched its Italian professional services platform named Titan, immediately agreeing to acquire a majority stake in Cattaneo Dall’Olio Rho Tax & Legal Group to build out its footprint. Similarly, in the automated retail space, Dominus-backed Seaga Manufacturing snapped up Three Square Market, a provider of intelligent inventory control solutions, while Providence Equity’s portfolio company, 365 Retail Markets, acquired retail technology firm Cantaloupe. In biopharma consulting, Five Arrows-backed BioPhorum acquired Pharma X Solutions, seeking to expand its London-based advisory capabilities.

Exits and Continuation Vehicles

Firms are actively managing portfolio lifecycles, with both new exits and the utilization of continuation vehicles gaining traction. LDC finalized its exit from construction data provider BCIS, selling the firm to Bowmark Capital, while Paceline anticipates closing the sale of its railroad equipment leasing unit, RELAM, by the end of May 2026. On the capital recycling front, Verdane successfully closed a €635 million multi-asset continuation vehicle, with Coller emerging as the sole lead on that transaction, which also involved Step Stone as a co-underwriter, marking the second time a PE firm has moved assets into a CV structure for the Arrive Group.

Sector-Specific Deals: Media, Energy, and Industrials

Apollo Global Management is moving to take two live events firms private, announcing its intention to acquire Emerald Holding and Questex for a combined total of $1.5bn, signaling interest in the live entertainment sector. In energy services, Altor is taking a majority stake in Sertion, a Nordic specialist in complex pipework crucial for industrial and infrastructure markets. Meanwhile, the energy retail sector saw a planned divestiture, as Mayfair Equity Partners is selling the OVO retail energy business, including customers and the brand name, to EON. Furthermore, a new home services entity is forming as Pollen Street moves to acquire a majority stake in a new provider combining Hometree with the OVO Energy Home Services division.

Sports Investing and Industry Commentary

Private equity interest continues to deepen within the sports ecosystem, driven by improving business models that finally align with fan passion. Dynasty Equity’s CEO, Don Cornwell, noted that the business models for sports-adjacent assets are catching up to the high levels of existing fan engagement, pointing to Dynasty’s portfolio which includes Unrivaled Sports and Liverpool FC. Cornwell also stressed the importance of governance, advising dealmakers to never skip an Annual General Meeting. Separately, European dealmaking saw activity in specialized technology, with Altor launching an offer for the AI-powered sleep tracking application, Sleep Cycle.

European Markets and Talent Moves

Activity in European markets shows specific geographic and sector focus, although mid-market firms are reportedly facing some stress, while larger firms like Carlyle tout their liquidity credentials. In the Nordic region, Altor's bid for Sleep Cycle contrasts with broader trends where robotics deals appear concentrated in specific European cities. Talent acquisition remains active, as Calera Capital appointed Michael O’Brien, previously of Valspring Capital, as its new managing director and head of business development. Meanwhile, M&G’s private markets CIO suggested that private capital is poised to play a role in bolstering Europe’s defense capabilities and financing the conversion of manufacturing facilities to enhance energy resilience.

Sovereign Capital and Investor Intentions

Sovereign wealth funds and large institutional investors are solidifying commitments to established growth equity managers. The Qatar Investment Authority committed $500m to General Atlantic’s global growth investment strategies, establishing a collaboration framework for thematic research and market insights to sharpen investment conviction. On the institutional investor side, DBJ Asset Management is actively pursuing new general partner partnerships, signaling plans to expand its overall private equity exposure starting in 2026. This demand for established managers persists even as the market grapples with deadlines looming over dealmaking processes, as noted by CSC.