Private Equity 3 Days

Last updated: June 13, 2026, 11:31 PM ET

Fundraising Activity

Carlyle Group kicked off its ninth flagship buyout fund targeting approximately $15 billion in commitments, seeking to match the $14.8 billion gathered by its predecessor fund. San Francisco-based Base10 Partners closed two funds totaling $850 million to invest in real economy automation across logistics, payroll, construction and other sectors. Partners Group secured more than $650 million at first close for its fifth real estate secondaries program, putting it on track toward a $1.5 billion target. TPG and Creative Artists Agency committed $250 million to a new fund backing online creators, marking a unique partnership between the private equity giant and Hollywood's talent agency.

Deal Flow Across Sectors

SK Capital-backed Spectrum Vascular acquired medical device firm Piccolo Medical as the vascular access provider expands its medication management portfolio. Nordic Capital bought water infrastructure specialist Flowa from Swedish industrial group Vestum, adding engineered water solutions across the UK and Nordics to its portfolio. Warburg Pincus is nearing acquisition of Japanese housing group JSB in a deal that would give the firm exposure to Kyoto-based residential real estate assets. Permira made its first Energy Transition investment by taking a stake in CDP, the world's largest environmental disclosure system, as the firm diversifies beyond traditional buyouts.

Healthcare-focused transactions continued with KKA and Winterberg-backed Healthcare Holding Schweiz acquiring Compet Medical for harm reduction and prevention products, while Odyssey-backed Levata snapped up tech firm Posdata Group to expand its data capture and management services across North America and Europe. Rox Capital scooped up manufacturer Interstate Threaded Products serving critical industrial end markets, and Allied Industrial-backed Liberty Waste Solutions picked up Bill's Trash Services to strengthen its integrated waste and recycling platform in North Carolina.

Strategic Investments and Portfolio Moves

KKR invested in CPA firm Crowe's advisory business, becoming the accounting firm's first institutional capital partner as private equity expands into professional services. L Catterton led a Series A round in Remedy Science, the dermatologist-developed skincare brand, reflecting continued private equity appetite for clinically-grounded beauty products. Stonepeak and Energy Equation Partners struck a deal to buy Poland's Anwim, the largest independent fuel marketer operating the MOYA station network, for an undisclosed amount.

Encore sold beverages manufacturer Twang Foodservice to Solina, the US division of European custom ingredient manufacturer, while Falfurrias-backed Woven Solutions acquired cybersecurity software developer Insignis to enhance its AI-enabled mission software for national security clients. Lead Edge Capital invested in Advancing Analytics, a European data and AI Databricks consultancy helping organizations navigate complex data challenges.

Personnel and Leadership Changes

CalPERS promoted Anton Orlich to deputy chief investment officer for private markets, elevating him after the public pension fund delivered top-ranked private equity returns. Great Hill tapped Lauren Reddy as head of people, bringing her experience from L.E.K. Consulting where she led talent functions for the Americas. Paul Murphy left Lightspeed Venture Partners while indicating plans to continue investing, and NIF hired an ex-EIB investor to run its fund of funds programme.

Market Sentiment and Trends

Pleo laid off 50 employees in its latest round of cuts as European fintechs grapple with challenging fundraising conditions. Mistral is reportedly in talks to raise at a €20 billion valuation, signaling continued investor confidence in European AI companies despite broader market concerns. Samsung backed industrial robotics startup Theker in an €85 million round, while Neura CEO discussed raising Europe's largest robotics round at approximately €600 million, calling it "not science fiction."

BlackRock capped redemptions on its $13 billion private credit fund for a second consecutive quarter as retail investors continue exiting the asset class. The US Supreme Court ruled in favor of BlackRock funds against activist litigation, determining that private investors cannot use federal securities law to challenge fund bylaws in court.

Secondaries and Liquidity Markets

Partners Group's real estate secondaries fund gained momentum amid growing LP interest in continuation vehicles, though some investors express scepticism about LP-led secondaries. Secondaries funds have been targeting 15-20% Saa S exposure in LP-led deals, down from previous levels of up to 40% as buyers reduce software risk. The market is seeing increased activity from emerging managers seeking partnerships with weighty LPs to navigate extended fund life cycles.

Special Situations and IPO Activity

FSN Capital listed InstallatørGruppen at a $695 million market cap after the technical installation services provider was established in 2023. EQT gained additional time to firm up its £9.4 billion Intertek take-private, extending the deadline for a binding offer. Mutares agreed to sell NEM Energy to Hyundai Heavy Industries Power Systems, divesting the heat transfer technology specialist serving power generation and energy transition markets.

British Business Bank plans to deploy £2 billion annually to venture capital and growth investments, outlining a fivefold increase in the development bank's investment pace. The move comes as venture capital firms reduce software exposure targets and seek diversification across sectors. Meanwhile, $100 million funding rounds have become typical late-stage financings rather than standout events, reflecting the normalization of large venture capital rounds.

Industrial Services Consolidation

Multiple private equity firms are testing the market for industrial service providers, with Audax, Harvest, MSouth, Olympus and Snowdon preparing assets for sale. Halle Capital-backed Pass Co acquired Southeastern Overhead Door, Fairborn Northeast and Communication Concepts to build its perimeter security platform. Clearlake added 31 collateralized loan obligations and over $5 billion in assets under management through its LCM deal, expanding credit business exposure.