Private Equity 3 Days

Last updated: May 15, 2026, 8:30 PM ET

Defense Tech & Infrastructure Fundraising

Defense technology continues to attract outsized capital as geopolitical tensions sustain demand for military hardware and autonomous systems. Anduril Industries raised $5 billion at a $61 billion valuation, doubling its previous valuation and cementing its position as the year's most funded startup. The round followed a broader trend of record venture cash flowing into defense tech, with the company leading a week of large financings across sectors focused on physical-world applications. Separately, Blackstone and Airbus are anchoring a roughly €600 million round for German drone maker Quantum Systems, which could value the business at approximately €7 billion. European defense startups are also drawing attention, as Dutch dronemaker Destinus is in €200 million funding talks, while a London-based 11-person startup promises to make AI 100 times cheaper every year, signaling the sector's appetite for automation technologies. The momentum is prompting calls for smarter capital policy in the UK, where policymakers risk repelling the very capital needed to compete globally on defense investment.

PE Buyouts, Take-Privates & Public Listings

Private equity dealmakers were active on both sides of the public-private divide. Blackstone and CD&R are evaluating take-private bids for Magnum Ice Cream Company, which trades below its IPO price, while Blackstone and KKR seized control of Affordable Care through a restructuring that will write off roughly 70% of the company's debt. On the public market side, KKR-backed Global Medical Response priced its IPO at a $3.3 billion valuation after cutting the offering price, raising $479 million, and PE-backed GMR also completed its own public listing. In Europe, Brookfield Asset Management is acquiring World Freight Company from EQT and PAI in a $1.2 billion deal, and EQT completed its take-private of Intertek, a London-listed testing and inspection provider, part of a broader wave of activity in the TICC sector that is attracting firms including Ardian, Blackstone, Bridgepoint and EQT due to revenue predictability. Verdane's acquisition of Augmentum Fintech marked a rare UK investment trust buyout, while American Securities sold processing equipment provider CPM to Rosebank for $2.1 billion, having invested in the company in 2018. Meanwhile, Blackstone is laying groundwork for a third vintage of its long-dated private equity strategy, and Welsh Carson is targeting $5 billion for its 15th flagship vehicle focused on mid-market North American buyouts.

Industry-Specific PE Deal Flow

Healthcare, aerospace and consumer services saw a steady stream of transactions. Charlesbank-backed Tecomet merged with Nordic-backed Orchid Orthopedic Solutions under the Tecomet name, while HIG Capital acquired International Aerospace Coatings, which serves OEMs and major airlines. In insurance, Aquiline-backed Relation acquired Crop Rx Insurance Services, and HIG Capital-backed Avanta Salud is acquiring Vitaly Group, an Iberian occupational health provider. Consumer and industrial portfolios expanded through Gallant Capital's investment in food labeling manufacturer NCCO, and Quad-C Management's investment in furniture and wallcovering designer Thibaut. Life sciences remains a hot vertical, with Eir Partners backing QuartzBio, a clinical-stage biomarker intelligence firm, and