Private Equity 3 Days

Last updated: May 28, 2026, 2:30 AM ET

Deal‑making surge – Modella Capital expanded its high‑street roll‑up by agreeing to acquire Flying Tiger Copenhagen, a move that adds a pan‑European retail brand to a platform already anchored by several UK chains. The transaction, valued at an undisclosed sum, follows a series of cross‑border roll‑ups that have become a staple of mid‑market private equity. In North America, DigitalBridge announced a $1.05bn acquisition of ArcLight, mixing a $650 m cash payment with up to $400 m of contingent consideration, underscoring the growing appetite for infrastructure assets that can support data‑intensive workloads. Meanwhile, Blackstone Life Sciences committed up to $1.3bn in royalty and debt financing to Apogee Therapeutics, a deal that blends long‑term royalty streams with senior debt, reflecting the sector’s shift toward hybrid capital structures to fund late‑stage biotech pipelines.

Strategic exits and refinancings – CVC Capital Partners sold its 13.8% stake in Naturgy for roughly €4bn, ending an eight‑year holding and delivering a sizeable cash return that will likely be redeployed into new European energy assets. At the same time, CVC Credit reinforced its position in Curium through a combined debt‑equity package, providing the nuclear‑medicine specialist with refinancing that supports its expansion into personalized radiopharmaceuticals. These moves illustrate how firms are balancing portfolio turnover with the need to sustain capital‑intensive growth businesses, especially in health‑care and clean‑energy niches.

Capital‑raising dynamics – Placement agents raised a record $82bn for GP clients in 2025, indicating strong LP appetite for new commitments despite recent market volatility. The trend is echoed by CPP Investments reporting C$793.3bn in assets and a 7.8% return, with private‑equity allocations at 22% of the fund, highlighting the dominance of sovereign‑wealth funds in the PE ecosystem. In Europe, APG broadened its impact focus to chase a €10bn impact‑PE target, signaling that mission‑aligned capital is becoming a material component of institutional portfolios. Together, these data points suggest that fundraising pipelines remain robust, driven by both financial returns and ESG considerations.

Sector‑specific thrusts – I Squared Capital pledged up to $1bn to launch a U.S. AI‑inference data‑centre platform, a clear bet on the infrastructure demand generated by generative‑AI workloads. Similarly, Hg invested $500 m in Rightsline, a rights‑and‑royalties management software provider, reinforcing the firm’s emphasis on recurring‑revenue tech assets. In the HR‑software arena, Carlyle’s Ian Fujiyama highlighted opportunities in ADG services, citing government focus on cyber and AI‑enabled capabilities, a narrative that aligns with the broader trend of private equity targeting defense‑adjacent software platforms. These sector bets illustrate how capital is being steered toward high‑margin, technology‑enabled businesses with defensible moats.

Leadership changes and portfolio support – EIV Capital promoted Jason Tracton to partner, recognizing his role in scaling the firm’s resources segment since joining in 2022. Across the Atlantic, Omni Partners added Roald Hunvik as its first partner outside the UK, expanding its Scandinavian footprint and signaling a push into the Nordic mid‑market space. On the operational side, Fortress acquired IPValue, a licensing firm with over 20,000 patents, adding a valuable IP‑monetization capability to its portfolio. These appointments and add‑ons reflect a continued focus on deepening sector expertise and building infrastructure that can generate sustainable cash flows for investors.